Digimarc (NASDAQ:DMRC) Price Target Cut to $10.00 by Analysts at Needham & Company LLC

Digimarc (NASDAQ:DMRC) had its price target reduced by research analysts at Needham & Company LLC from $20.00 to $10.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the information technology services provider’s stock. Needham & Company LLC’s price objective indicates a potential upside of 53.14% from the company’s current price.

Several other research firms have also recently issued reports on DMRC. Wall Street Zen upgraded Digimarc from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Digimarc in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $10.00.

Digimarc Price Performance

Shares of NASDAQ:DMRC opened at $6.53 on Monday. Digimarc has a 1 year low of $4.07 and a 1 year high of $15.18. The company has a market cap of $144.25 million, a PE ratio of -4.35 and a beta of 1.70. The stock’s 50-day moving average is $5.64 and its 200 day moving average is $7.59.

Digimarc (NASDAQ:DMRC) last released its quarterly earnings results on Wednesday, March 11th. The information technology services provider reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.07. Digimarc had a negative return on equity of 38.41% and a negative net margin of 95.27%.The business had revenue of $8.91 million during the quarter, compared to analyst estimates of $8.22 million.

Institutional Investors Weigh In On Digimarc

Hedge funds and other institutional investors have recently bought and sold shares of the business. Samjo Management LLC lifted its holdings in shares of Digimarc by 3.8% during the second quarter. Samjo Management LLC now owns 37,075 shares of the information technology services provider’s stock valued at $490,000 after purchasing an additional 1,350 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Digimarc by 25.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 13,866 shares of the information technology services provider’s stock valued at $91,000 after buying an additional 2,800 shares during the last quarter. Occudo Quantitative Strategies LP increased its position in shares of Digimarc by 18.4% during the third quarter. Occudo Quantitative Strategies LP now owns 24,977 shares of the information technology services provider’s stock valued at $244,000 after acquiring an additional 3,880 shares in the last quarter. Turim 21 Investimentos Ltda. raised its holdings in Digimarc by 4.1% in the 3rd quarter. Turim 21 Investimentos Ltda. now owns 98,475 shares of the information technology services provider’s stock worth $962,000 after acquiring an additional 3,922 shares during the last quarter. Finally, Private Advisor Group LLC raised its holdings in Digimarc by 1.1% in the 3rd quarter. Private Advisor Group LLC now owns 466,358 shares of the information technology services provider’s stock worth $4,556,000 after acquiring an additional 4,890 shares during the last quarter. Hedge funds and other institutional investors own 66.85% of the company’s stock.

About Digimarc

Digimarc Corporation is a technology company specializing in digital identification and authentication solutions. Its core offering centers on embedding imperceptible digital watermarks into images, audio, video and packaging materials. These watermarks carry unique identifiers that enable secure tracking, brand protection and content provenance across print and digital channels.

The company’s product suite includes software development kits and cloud-based services that allow enterprises to integrate digital watermarking into their existing workflows.