Digimarc (NASDAQ:DMRC) Issues Quarterly Earnings Results

Digimarc (NASDAQ:DMRC) released its quarterly earnings data on Tuesday. The information technology services provider reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.04, Zacks reports. Digimarc had a negative return on equity of 46.01% and a negative net margin of 114.38%. The firm had revenue of $10.38 million for the quarter.

Digimarc Stock Up 6.0 %

Shares of DMRC traded up $1.46 during mid-day trading on Thursday, hitting $25.61. 47,003 shares of the company’s stock traded hands, compared to its average volume of 132,051. Digimarc has a 1 year low of $21.00 and a 1 year high of $43.43. The firm has a market capitalization of $547.36 million, a P/E ratio of -11.61 and a beta of 1.73. The business’s 50-day moving average price is $30.24 and its 200-day moving average price is $29.48.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on DMRC shares. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price objective on shares of Digimarc in a research report on Wednesday. Craig Hallum lowered their price objective on Digimarc from $35.00 to $28.00 and set a “hold” rating for the company in a research report on Friday, May 3rd.

Digimarc Company Profile

Digimarc Corporation, together with its subsidiaries, provides automatic identification solutions to commercial and government customers in the United States and internationally. The company offers Digimarc Validate protects, a cloud-based record of product authentication information; Digimarc Engage, an interactive communications channel connecting brands and consumers; and Digimarc Recycle.