Needham & Company LLC Cuts Digimarc (NASDAQ:DMRC) Price Target to $10.00
by Michael Walen · The Markets DailyDigimarc (NASDAQ:DMRC – Free Report) had its target price cut by Needham & Company LLC from $20.00 to $10.00 in a report released on Monday,Benzinga reports. They currently have a buy rating on the information technology services provider’s stock.
A number of other analysts have also recently issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Digimarc in a research report on Wednesday, January 21st. Wall Street Zen raised Digimarc from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Digimarc currently has a consensus rating of “Hold” and a consensus target price of $10.00.
Get Our Latest Stock Analysis on DMRC
Digimarc Stock Down 6.7%
DMRC stock opened at $5.81 on Monday. The company has a 50 day moving average of $5.59 and a two-hundred day moving average of $7.54. The company has a market cap of $128.34 million, a price-to-earnings ratio of -3.87 and a beta of 1.70. Digimarc has a 12-month low of $4.07 and a 12-month high of $15.18.
Digimarc (NASDAQ:DMRC – Get Free Report) last posted its quarterly earnings results on Wednesday, March 11th. The information technology services provider reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.07. Digimarc had a negative net margin of 95.27% and a negative return on equity of 38.41%. The business had revenue of $8.91 million for the quarter, compared to analysts’ expectations of $8.22 million.
Institutional Investors Weigh In On Digimarc
Several institutional investors and hedge funds have recently modified their holdings of the business. Steward Partners Investment Advisory LLC bought a new stake in Digimarc in the second quarter worth $65,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Digimarc in the first quarter worth about $128,000. Engineers Gate Manager LP acquired a new stake in shares of Digimarc in the second quarter worth about $132,000. Invesco Ltd. bought a new stake in shares of Digimarc during the 4th quarter worth about $78,000. Finally, Jump Financial LLC bought a new stake in shares of Digimarc during the 2nd quarter worth about $163,000. Institutional investors and hedge funds own 66.85% of the company’s stock.
About Digimarc
Digimarc Corporation is a technology company specializing in digital identification and authentication solutions. Its core offering centers on embedding imperceptible digital watermarks into images, audio, video and packaging materials. These watermarks carry unique identifiers that enable secure tracking, brand protection and content provenance across print and digital channels.
The company’s product suite includes software development kits and cloud-based services that allow enterprises to integrate digital watermarking into their existing workflows.