Needham & Company LLC Reaffirms Buy Rating for Digimarc (DMRC)

Needham & Company LLC restated their buy rating on shares of Digimarc (NASDAQ:DMRC) in a research report report published on Tuesday. Needham & Company LLC currently has a $34.00 price target on the information technology services provider’s stock, up from their previous price target of $32.00.

DMRC has been the topic of a number of other research reports. ValuEngine raised Digimarc from a hold rating to a buy rating in a research report on Saturday, February 23rd. BidaskClub raised Digimarc from a hold rating to a buy rating in a research report on Thursday, February 14th. Finally, Zacks Investment Research raised Digimarc from a hold rating to a buy rating and set a $34.00 price target on the stock in a research report on Tuesday, February 26th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $37.00.

Shares of NASDAQ:DMRC opened at $30.06 on Tuesday. The company has a market cap of $364.78 million, a P/E ratio of -10.51 and a beta of 1.20. Digimarc has a 1 year low of $14.03 and a 1 year high of $33.40.

Digimarc (NASDAQ:DMRC) last issued its quarterly earnings results on Thursday, February 21st. The information technology services provider reported ($0.70) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.77) by $0.07. The business had revenue of $5.23 million for the quarter, compared to the consensus estimate of $5.33 million. Digimarc had a negative return on equity of 49.05% and a negative net margin of 153.39%. Analysts forecast that Digimarc will post -2.89 EPS for the current fiscal year.

In other Digimarc news, Director Bernard Whitney sold 2,500 shares of the firm’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $29.63, for a total value of $74,075.00. Following the sale, the director now owns 21,318 shares of the company’s stock, valued at approximately $631,652.34. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Aimee Arana sold 2,760 shares of the firm’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $30.74, for a total value of $84,842.40. Following the completion of the sale, the executive vice president now directly owns 36,065 shares in the company, valued at approximately $1,108,638.10. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.

Several hedge funds have recently modified their holdings of the business. MetLife Investment Advisors LLC boosted its holdings in shares of Digimarc by 66.7% in the 3rd quarter. MetLife Investment Advisors LLC now owns 6,573 shares of the information technology services provider’s stock valued at $207,000 after purchasing an additional 2,630 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Digimarc by 17.5% in the 4th quarter. Bank of America Corp DE now owns 23,737 shares of the information technology services provider’s stock valued at $344,000 after purchasing an additional 3,541 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Digimarc by 45.9% in the 4th quarter. Rhumbline Advisers now owns 15,042 shares of the information technology services provider’s stock valued at $218,000 after purchasing an additional 4,732 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in shares of Digimarc by 12.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 47,547 shares of the information technology services provider’s stock valued at $689,000 after purchasing an additional 5,228 shares in the last quarter. Finally, Cutler Group LP boosted its holdings in shares of Digimarc by 2,006.7% in the 3rd quarter. Cutler Group LP now owns 6,320 shares of the information technology services provider’s stock valued at $198,000 after purchasing an additional 6,020 shares in the last quarter. 58.43% of the stock is currently owned by hedge funds and other institutional investors.

Digimarc Company Profile

Digimarc Corporation provides media identification and management solutions to government and commercial customers in the United States and internationally. It 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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