Digimarc Corp (DMRC) Receives $42.75 Consensus PT from Analysts

Digimarc Corp (NASDAQ:DMRC) has been assigned an average recommendation of “Buy” from the seven brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $42.75.

DMRC has been the subject of several recent research reports. BidaskClub cut Digimarc from a “buy” rating to a “hold” rating in a research report on Monday, June 25th. ValuEngine raised Digimarc from a “sell” rating to a “hold” rating in a research report on Thursday, July 5th. Zacks Investment Research raised Digimarc from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Wednesday, June 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $34.00 price objective (down from $35.00) on shares of Digimarc in a research report on Friday, August 3rd.

In other news, CEO Bruce L. Davis sold 5,000 shares of the company’s stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $27.00, for a total transaction of $135,000.00. Following the completion of the transaction, the chief executive officer now directly owns 77,240 shares of the company’s stock, valued at $2,085,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.10% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. Marathon Capital Management boosted its position in Digimarc by 2.3% during the second quarter. Marathon Capital Management now owns 76,275 shares of the information technology services provider’s stock valued at $2,044,000 after purchasing an additional 1,750 shares during the last quarter. Berson & Corrado Investment Advisors LLC boosted its position in Digimarc by 22.6% during the second quarter. Berson & Corrado Investment Advisors LLC now owns 12,375 shares of the information technology services provider’s stock valued at $331,000 after purchasing an additional 2,279 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Digimarc by 13.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 23,442 shares of the information technology services provider’s stock valued at $629,000 after purchasing an additional 2,700 shares during the last quarter. Wasatch Advisors Inc. boosted its position in Digimarc by 9.5% during the second quarter. Wasatch Advisors Inc. now owns 85,820 shares of the information technology services provider’s stock valued at $2,300,000 after purchasing an additional 7,476 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new position in Digimarc during the second quarter valued at approximately $203,000. 55.55% of the stock is owned by institutional investors.

Shares of Digimarc stock traded down $0.25 during trading hours on Friday, hitting $30.30. The company’s stock had a trading volume of 100 shares, compared to its average volume of 51,413. Digimarc has a 12 month low of $22.85 and a 12 month high of $39.95. The company has a market capitalization of $362.95 million, a P/E ratio of -12.42 and a beta of -1.18.

Digimarc (NASDAQ:DMRC) last announced its quarterly earnings results on Wednesday, August 1st. The information technology services provider reported ($0.71) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.81) by $0.10. Digimarc had a negative return on equity of 37.68% and a negative net margin of 116.98%. The company had revenue of $5.44 million during the quarter, compared to the consensus estimate of $5.28 million. equities research analysts expect that Digimarc will post -2.92 EPS for the current fiscal year.

Digimarc Company Profile

Digimarc Corporation provides media identification and management solutions to commercial entities and government customers in the United States and internationally. The company offers Digimarc Intuitive Computing Platform, a comprehensive set of technologies for identifying, discovering, and interacting with digitally-enhanced media, which includes Digimarc Barcode, a method for imperceptibly enhancing packaging, print, images, thermal labels, audio, and other objects with data that is detected by enabled devices, such as smart phones, computers, barcode scanners, and machine-vision equipment.

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