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

Needham & Company LLC restated their buy rating on shares of Digimarc Corporation (NASDAQ:DMRC) in a research report report published on Monday, July 10th. They currently have a $42.00 target price on the information technology services provider’s stock.

DMRC has been the subject of several other reports. Craig Hallum cut shares of Digimarc Corporation from a buy rating to a hold rating in a research report on Friday, July 7th. Zacks Investment Research upgraded shares of Digimarc Corporation from a sell rating to a hold rating in a research report on Tuesday, March 21st. ValuEngine upgraded shares of Digimarc Corporation from a sell rating to a hold rating in a research report on Friday, June 2nd. Cowen and Company raised their price objective on shares of Digimarc Corporation from $45.00 to $50.00 and gave the stock an outperform rating in a research report on Tuesday, June 27th. Finally, B. Riley reaffirmed a buy rating and set a $44.00 target price on shares of Digimarc Corporation in a research note on Tuesday, April 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $45.75.

Digimarc Corporation (NASDAQ DMRC) traded down 6.73% during mid-day trading on Monday, hitting $30.50. 205,945 shares of the stock were exchanged. The stock’s market cap is $310.61 million. The stock’s 50 day moving average is $35.61 and its 200 day moving average is $29.65. Digimarc Corporation has a 52-week low of $24.20 and a 52-week high of $41.75.

Digimarc Corporation (NASDAQ:DMRC) last released its quarterly earnings data on Wednesday, April 26th. The information technology services provider reported ($0.61) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.66) by $0.05. Digimarc Corporation had a negative net margin of 100.68% and a negative return on equity of 34.25%. The firm had revenue of $6.10 million during the quarter, compared to analysts’ expectations of $5.61 million. During the same period last year, the business earned ($0.64) earnings per share. Digimarc Corporation’s revenue was up 9.3% compared to the same quarter last year. Analysts forecast that Digimarc Corporation will post ($2.64) EPS for the current fiscal year.

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In other news, insider Tony Rodriguez sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $35.30, for a total value of $70,600.00. Following the completion of the transaction, the insider now owns 31,887 shares of the company’s stock, valued at $1,125,611.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Joel Meyer sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $31.77, for a total transaction of $222,390.00. Following the completion of the transaction, the executive vice president now directly owns 70,121 shares of the company’s stock, valued at approximately $2,227,744.17. The disclosure for this sale can be found here. In the last three months, insiders sold 17,000 shares of company stock valued at $601,820. Insiders own 7.50% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new position in shares of Digimarc Corporation during the fourth quarter worth about $422,000. State Street Corp increased its position in shares of Digimarc Corporation by 10.7% in the fourth quarter. State Street Corp now owns 143,696 shares of the information technology services provider’s stock worth $4,311,000 after buying an additional 13,930 shares in the last quarter. RMB Capital Management LLC purchased a new position in shares of Digimarc Corporation during the fourth quarter worth about $309,000. Teachers Advisors LLC increased its position in shares of Digimarc Corporation by 6.8% in the fourth quarter. Teachers Advisors LLC now owns 13,884 shares of the information technology services provider’s stock worth $417,000 after buying an additional 881 shares in the last quarter. Finally, WealthTrust Arizona LLC increased its position in shares of Digimarc Corporation by 3.9% in the first quarter. WealthTrust Arizona LLC now owns 5,285 shares of the information technology services provider’s stock worth $143,000 after buying an additional 200 shares in the last quarter. Institutional investors own 54.53% of the company’s stock.

About Digimarc Corporation

Digimarc Corporation (Digimarc) enables governments and enterprises to give digital identities to media and objects that computers can sense and recognize. The Company’s Digimarc Discover, Digimarc Barcode and Intuitive Computing Platform are designed to optimize the identification of consumer brand impressions, facilitating mobile-centric shopping.

Analyst Recommendations for Digimarc Corporation (NASDAQ:DMRC)

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