Digimarc (NASDAQ:DMRC) Price Target Raised to $15.00 at Needham & Company LLC

Digimarc (NASDAQ:DMRC) had its price target boosted by investment analysts at Needham & Company LLC from $10.00 to $15.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the information technology services provider’s stock. Needham & Company LLC’s target price would indicate a potential upside of 50.91% from the stock’s previous close.

DMRC has been the subject of several other research reports. Wall Street Zen upgraded Digimarc from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Weiss Ratings restated a “sell (e+)” rating on shares of Digimarc in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $15.00.

Digimarc Trading Down 5.9%

NASDAQ:DMRC traded down $0.62 during trading hours on Thursday, reaching $9.94. 176,364 shares of the company traded hands, compared to its average volume of 235,084. The business’s 50-day moving average price is $6.38 and its two-hundred day moving average price is $6.80. The stock has a market capitalization of $219.57 million, a P/E ratio of -7.83 and a beta of 1.88. Digimarc has a 1 year low of $4.07 and a 1 year high of $14.64.

Digimarc (NASDAQ:DMRC) last announced its quarterly earnings data on Tuesday, May 12th. The information technology services provider reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.29. The business had revenue of $7.58 million during the quarter, compared to analysts’ expectations of $7.05 million. Digimarc had a negative return on equity of 20.71% and a negative net margin of 85.75%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Invesco Ltd. purchased a new position in shares of Digimarc in the fourth quarter worth $78,000. IMC Chicago LLC bought a new stake in shares of Digimarc in the first quarter worth $82,000. Janney Montgomery Scott LLC grew its holdings in shares of Digimarc by 25.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 13,866 shares of the information technology services provider’s stock worth $91,000 after acquiring an additional 2,800 shares during the period. Verition Fund Management LLC bought a new stake in shares of Digimarc in the fourth quarter worth $96,000. Finally, Inscription Capital LLC bought a new stake in shares of Digimarc in the fourth quarter worth $109,000. Hedge funds and other institutional investors own 66.85% of the company’s stock.

Digimarc Company Profile

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.