Northland Securities Begins Coverage on Digimarc (NASDAQ:DMRC)

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Northland Securities started coverage on shares of Digimarc (NASDAQ:DMRC) in a research report released on Thursday, The Fly reports. The firm issued an outperform rating and a $55.00 target price on the information technology services provider’s stock.

DMRC has been the subject of several other research reports. ValuEngine cut shares of Digimarc from a buy rating to a hold rating in a research report on Wednesday, September 4th. BidaskClub upgraded shares of Digimarc from a strong sell rating to a sell rating in a research report on Friday, September 6th. Needham & Company LLC cut shares of Digimarc from a buy rating to a hold rating in a research report on Thursday, May 30th. They noted that the move was a valuation call. B. Riley cut shares of Digimarc from a buy rating to a neutral rating and boosted their price objective for the stock from $44.00 to $57.50 in a research report on Thursday, May 30th. Finally, Zacks Investment Research cut shares of Digimarc from a hold rating to a sell rating in a research report on Wednesday, June 12th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Digimarc has a consensus rating of Hold and an average target price of $49.75.

DMRC stock opened at $44.57 on Thursday. The company has a 50 day moving average price of $42.50 and a 200 day moving average price of $42.12. Digimarc has a fifty-two week low of $14.03 and a fifty-two week high of $66.50. The stock has a market capitalization of $554.03 million, a PE ratio of -15.58 and a beta of 0.11.

Digimarc (NASDAQ:DMRC) last posted its quarterly earnings data on Wednesday, July 24th. The information technology services provider reported ($0.68) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.07. Digimarc had a negative net margin of 149.00% and a negative return on equity of 56.59%. The firm had revenue of $6.18 million during the quarter. On average, equities research analysts anticipate that Digimarc will post -2.83 earnings per share for the current year.

Several institutional investors have recently modified their holdings of DMRC. D. E. Shaw & Co. Inc. raised its position in shares of Digimarc by 158.9% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 121,383 shares of the information technology services provider’s stock valued at $5,388,000 after acquiring an additional 74,502 shares during the last quarter. RMB Capital Management LLC raised its position in shares of Digimarc by 259.1% during the 2nd quarter. RMB Capital Management LLC now owns 83,274 shares of the information technology services provider’s stock valued at $3,697,000 after acquiring an additional 60,086 shares during the last quarter. Wasatch Advisors Inc. raised its position in shares of Digimarc by 49.9% during the 1st quarter. Wasatch Advisors Inc. now owns 140,094 shares of the information technology services provider’s stock valued at $4,396,000 after acquiring an additional 46,632 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Digimarc during the 2nd quarter valued at $1,878,000. Finally, BlackRock Inc. raised its position in shares of Digimarc by 4.7% during the 2nd quarter. BlackRock Inc. now owns 781,427 shares of the information technology services provider’s stock valued at $34,687,000 after acquiring an additional 35,124 shares during the last quarter. Institutional investors own 62.05% of the company’s stock.

About Digimarc

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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