Shares of Digimarc Corp (NASDAQ:DMRC) have received an average recommendation of “Buy” from the six analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $54.50.
A number of brokerages have recently issued reports on DMRC. Craig Hallum raised Digimarc from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research note on Thursday, May 2nd. ValuEngine upgraded shares of Digimarc from a “hold” rating to a “buy” rating in a report on Saturday, February 23rd. Zacks Investment Research lowered shares of Digimarc from a “hold” rating to a “sell” rating in a report on Monday, May 6th. BidaskClub upgraded shares of Digimarc from a “hold” rating to a “buy” rating in a report on Thursday, February 14th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $34.00 target price (up from $32.00) on shares of Digimarc in a report on Tuesday, March 12th.
In other news, EVP Tony Rodriguez sold 1,398 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $63.02, for a total transaction of $88,101.96. Following the completion of the sale, the executive vice president now directly owns 53,890 shares in the company, valued at $3,396,147.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Bruce L. Davis sold 15,000 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $47.90, for a total transaction of $718,500.00. Following the sale, the chief executive officer now owns 41,799 shares of the company’s stock, valued at $2,002,172.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,373 shares of company stock valued at $2,381,804. 6.38% of the stock is currently owned by company insiders.
Shares of NASDAQ:DMRC traded up $0.43 on Friday, reaching $64.10. 176,410 shares of the company traded hands, compared to its average volume of 141,110. Digimarc has a 52 week low of $14.03 and a 52 week high of $65.91. The stock has a market capitalization of $777.41 million, a P/E ratio of -22.41 and a beta of 1.15.
Digimarc (NASDAQ:DMRC) last announced its quarterly earnings data on Wednesday, May 1st. The information technology services provider reported ($0.74) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.72) by ($0.02). Digimarc had a negative net margin of 154.70% and a negative return on equity of 55.04%. The company had revenue of $5.66 million for the quarter, compared to the consensus estimate of $5.48 million. As a group, research analysts expect that Digimarc will post -3.01 EPS for the current fiscal year.
Digimarc Corporation provides media identification and management solutions to government and commercial customers in the United States and internationally. It 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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