Digimarc (NASDAQ:DMRC - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $40.00 target price on the information technology services provider's stock. Needham & Company LLC's price objective indicates a potential upside of 47.22% from the company's previous close.
Separately, StockNews.com raised Digimarc to a "sell" rating in a research report on Tuesday, September 17th.
Check Out Our Latest Report on DMRC
Digimarc Stock Performance
Shares of DMRC stock traded down $2.95 during trading hours on Friday, hitting $27.17. The company had a trading volume of 509,347 shares, compared to its average volume of 121,588. Digimarc has a 12 month low of $21.00 and a 12 month high of $43.43. The firm has a market capitalization of $581.98 million, a price-to-earnings ratio of -14.15 and a beta of 1.68. The firm's fifty day moving average is $29.67 and its 200 day moving average is $28.73.
Digimarc (NASDAQ:DMRC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 13th. The information technology services provider reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.04. The business had revenue of $10.38 million for the quarter. Digimarc had a negative return on equity of 41.60% and a negative net margin of 105.98%.
Hedge Funds Weigh In On Digimarc
Several hedge funds have recently modified their holdings of DMRC. West Branch Capital LLC purchased a new position in Digimarc in the 2nd quarter valued at approximately $62,000. nVerses Capital LLC purchased a new position in Digimarc in the 2nd quarter valued at approximately $62,000. SG Americas Securities LLC purchased a new position in Digimarc in the 3rd quarter valued at approximately $106,000. FMR LLC grew its stake in Digimarc by 201.6% in the 3rd quarter. FMR LLC now owns 4,983 shares of the information technology services provider's stock valued at $134,000 after buying an additional 3,331 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Digimarc in the 2nd quarter valued at $148,000. Institutional investors own 66.85% of the company's stock.
Digimarc Company Profile
(
Get Free Report)
Digimarc Corporation, together with its subsidiaries, provides automatic identification solutions to commercial and government customers in the United States and internationally. The company offers Digimarc Validate protects, a cloud-based record of product authentication information; Digimarc Engage, an interactive communications channel connecting brands and consumers; and Digimarc Recycle.
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