Digimarc (DMRC) Upgraded by BidaskClub to Buy

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BidaskClub upgraded shares of Digimarc (NASDAQ:DMRC) from a hold rating to a buy rating in a research report sent to investors on Saturday.

Other analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Digimarc from a hold rating to a buy rating and set a $32.00 target price for the company in a research report on Monday, August 6th. National Securities restated a buy rating and set a $43.00 target price on shares of Digimarc in a research report on Monday, August 6th. Needham & Company LLC restated a buy rating and set a $34.00 target price (down from $35.00) on shares of Digimarc in a research report on Friday, August 3rd. Finally, ValuEngine upgraded shares of Digimarc from a hold rating to a buy rating in a research report on Friday, September 7th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $38.25.

Shares of NASDAQ DMRC opened at $26.32 on Friday. The company has a market cap of $318.39 million, a P/E ratio of -10.79 and a beta of -1.22. Digimarc has a 12-month low of $22.85 and a 12-month high of $39.95.

Digimarc (NASDAQ:DMRC) last announced its earnings results on Wednesday, August 1st. The information technology services provider reported ($0.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.81) by $0.10. The company had revenue of $5.44 million during the quarter, compared to analyst estimates of $5.28 million. Digimarc had a negative net margin of 116.98% and a negative return on equity of 37.68%. On average, equities analysts predict that Digimarc will post -2.92 EPS for the current fiscal year.

In other Digimarc news, CEO Bruce L. Davis sold 8,930 shares of the company’s stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $30.27, for a total value of $270,311.10. Following the completion of the transaction, the chief executive officer now directly owns 60,887 shares in the company, valued at $1,843,049.49. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 6.10% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System bought a new position in shares of Digimarc in the second quarter worth approximately $203,000. Handelsinvest Investeringsforvaltning bought a new position in shares of Digimarc in the third quarter worth approximately $315,000. Berson & Corrado Investment Advisors LLC boosted its position in shares of Digimarc by 22.6% in the second quarter. Berson & Corrado Investment Advisors LLC now owns 12,375 shares of the information technology services provider’s stock worth $331,000 after purchasing an additional 2,279 shares during the period. Handelsbanken Fonder AB bought a new position in shares of Digimarc in the third quarter worth approximately $431,000. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Digimarc by 13.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 23,442 shares of the information technology services provider’s stock worth $629,000 after purchasing an additional 2,700 shares during the period. Institutional investors and hedge funds own 55.65% of the company’s stock.

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.

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