Digimarc Corp. (DMRC) Receives $44.75 Consensus PT from Analysts
Digimarc Corp. (NASDAQ:DMRC) has been assigned a consensus rating of “Buy” from the five brokerages that are currently covering the stock. One research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $44.75.
DMRC has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Digimarc Corp. from a “sell” rating to a “hold” rating in a research note on Friday, July 29th. B. Riley reiterated a “buy” rating and issued a $44.00 price objective on shares of Digimarc Corp. in a research note on Saturday, July 30th. Needham & Company LLC initiated coverage on shares of Digimarc Corp. in a research note on Friday, September 9th. They issued a “buy” rating and a $46.00 price objective for the company. Finally, Imperial Capital set a $47.00 price objective on shares of Digimarc Corp. and gave the company a “buy” rating in a research note on Monday.
Digimarc Corp. (NASDAQ:DMRC) opened at 32.40 on Tuesday. The firm’s market capitalization is $326.69 million. Digimarc Corp. has a 12-month low of $25.04 and a 12-month high of $44.94. The firm has a 50-day moving average of $31.97 and a 200 day moving average of $32.89.
Digimarc Corp. (NASDAQ:DMRC) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported ($0.55) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.58) by $0.03. Digimarc Corp. had a negative net margin of 98.10% and a negative return on equity of 38.75%. The firm earned $5.60 million during the quarter, compared to analysts’ expectations of $5.61 million. During the same quarter last year, the business earned ($0.54) earnings per share. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities analysts predict that Digimarc Corp. will post ($2.38) EPS for the current year.
Institutional investors have recently bought and sold shares of the stock. Senvest Management LLC increased its position in Digimarc Corp. by 6.0% in the third quarter. Senvest Management LLC now owns 850,839 shares of the company’s stock valued at $32,630,000 after buying an additional 47,820 shares during the period. Lagoda Investment Management L.P. purchased a new stake in shares of Digimarc Corp. during the third quarter worth approximately $25,000,000. Vanguard Group Inc. increased its stake in shares of Digimarc Corp. by 5.1% in the second quarter. Vanguard Group Inc. now owns 314,325 shares of the company’s stock worth $10,045,000 after buying an additional 15,346 shares during the period. Primecap Management Co. CA increased its stake in shares of Digimarc Corp. by 3.6% in the second quarter. Primecap Management Co. CA now owns 304,000 shares of the company’s stock worth $9,716,000 after buying an additional 10,600 shares during the period. Finally, Hood River Capital Management LLC purchased a new stake in shares of Digimarc Corp. during the third quarter worth approximately $10,269,000. Hedge funds and other institutional investors own 49.73% of the company’s stock.
Digimarc Corp. Company Profile
Digimarc Corporation (Digimarc) enables governments and enterprises to give digital identities to media and objects that computers can sense and recognize. The Company’s Digimarc Discover and Digimarc Barcode Intuitive Computing Platform are designed to optimize the identification of consumer brand impressions, facilitating mobile-centric shopping.
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