Digimarc Corp (DMRC) Receives $43.00 Consensus PT from Analysts

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Shares of Digimarc Corp (NASDAQ:DMRC) have been given an average rating of “Buy” by the eight brokerages that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $43.00.

A number of equities research analysts have issued reports on the stock. ValuEngine lowered shares of Digimarc from a “hold” rating to a “sell” rating in a report on Thursday, May 17th. BidaskClub raised shares of Digimarc from a “hold” rating to a “buy” rating in a report on Tuesday. Needham & Company LLC cut their price objective on shares of Digimarc from $42.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Finally, National Securities set a $43.00 price objective on shares of Digimarc and gave the company a “buy” rating in a report on Thursday, February 22nd.

In other Digimarc news, CEO Bruce L. Davis sold 9,938 shares of the stock in a transaction that occurred on Friday, June 15th. The shares were sold at an average price of $32.51, for a total transaction of $323,084.38. Following the completion of the sale, the chief executive officer now directly owns 72,240 shares of the company’s stock, valued at approximately $2,348,522.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Bruce L. Davis sold 5,000 shares of the stock in a transaction that occurred on Friday, June 1st. The shares were sold at an average price of $29.65, for a total transaction of $148,250.00. Following the sale, the chief executive officer now directly owns 89,596 shares of the company’s stock, valued at $2,656,521.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,167 shares of company stock valued at $1,272,139. Insiders own 6.10% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Baillie Gifford & Co. grew its holdings in shares of Digimarc by 28.6% in the first quarter. Baillie Gifford & Co. now owns 411,475 shares of the information technology services provider’s stock valued at $9,855,000 after purchasing an additional 91,602 shares in the last quarter. Wolverine Trading LLC purchased a new position in shares of Digimarc in the fourth quarter valued at $338,000. Senvest Management LLC grew its holdings in shares of Digimarc by 7.1% in the first quarter. Senvest Management LLC now owns 892,156 shares of the information technology services provider’s stock valued at $21,367,000 after purchasing an additional 58,826 shares in the last quarter. Garelick Capital Partners LP grew its holdings in shares of Digimarc by 21.3% in the fourth quarter. Garelick Capital Partners LP now owns 332,863 shares of the information technology services provider’s stock valued at $12,033,000 after purchasing an additional 58,392 shares in the last quarter. Finally, Hood River Capital Management LLC grew its holdings in shares of Digimarc by 124.4% in the first quarter. Hood River Capital Management LLC now owns 567,726 shares of the information technology services provider’s stock valued at $13,597,000 after purchasing an additional 314,722 shares in the last quarter. 51.48% of the stock is owned by hedge funds and other institutional investors.

Digimarc traded down $0.60, hitting $31.30, during midday trading on Friday, Marketbeat reports. The stock had a trading volume of 1,595 shares, compared to its average volume of 63,846. The firm has a market capitalization of $378.52 million, a price-to-earnings ratio of -13.22 and a beta of -1.02. Digimarc has a 52-week low of $22.85 and a 52-week high of $41.75.

Digimarc (NASDAQ:DMRC) last released its earnings results on Wednesday, April 25th. The information technology services provider reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.81) by $1.53. The company had revenue of $5.61 million during the quarter, compared to analyst estimates of $5.48 million. Digimarc had a negative net margin of 111.85% and a negative return on equity of 35.03%. analysts predict that Digimarc will post -3.13 EPS for the current fiscal year.

About Digimarc

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.

Analyst Recommendations for Digimarc (NASDAQ:DMRC)

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