Digimarc’s (DMRC) Buy Rating Reaffirmed at Needham & Company LLC

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Needham & Company LLC reissued their buy rating on shares of Digimarc (NASDAQ:DMRC) in a research note released on Tuesday. The brokerage currently has a $34.00 price objective on the information technology services provider’s stock, up from their prior price objective of $32.00.

A number of other equities analysts have also recently issued reports on the stock. BidaskClub raised shares of Digimarc from a hold rating to a buy rating in a research note on Thursday, February 14th. ValuEngine raised shares of Digimarc from a hold rating to a buy rating in a research report on Saturday, February 23rd. Finally, Zacks Investment Research raised shares of Digimarc from a hold rating to a buy rating and set a $34.00 price target on the stock in a research report on Tuesday, February 26th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and an average price target of $37.00.

Shares of DMRC stock opened at $29.86 on Tuesday. Digimarc has a 52-week low of $14.03 and a 52-week high of $33.40. The company has a market capitalization of $354.10 million, a price-to-earnings ratio of -10.44 and a beta of 0.86.

Digimarc (NASDAQ:DMRC) last announced its quarterly earnings data on Thursday, February 21st. The information technology services provider reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.07. Digimarc had a negative net margin of 153.39% and a negative return on equity of 46.77%. The firm had revenue of $5.23 million for the quarter, compared to analysts’ expectations of $5.33 million. On average, equities research analysts predict that Digimarc will post -2.89 EPS for the current year.

In other Digimarc news, EVP Aimee Arana sold 2,760 shares of Digimarc stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $30.74, for a total value of $84,842.40. Following the sale, the executive vice president now directly owns 36,065 shares in the company, valued at approximately $1,108,638.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bernard Whitney sold 2,500 shares of Digimarc stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $29.63, for a total transaction of $74,075.00. Following the completion of the sale, the director now owns 21,318 shares in the company, valued at $631,652.34. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the business. Northern Trust Corp grew its position in shares of Digimarc by 10.8% in the 2nd quarter. Northern Trust Corp now owns 155,051 shares of the information technology services provider’s stock valued at $4,155,000 after acquiring an additional 15,098 shares during the period. Cutler Group LP grew its position in shares of Digimarc by 2,006.7% in the 3rd quarter. Cutler Group LP now owns 6,320 shares of the information technology services provider’s stock valued at $198,000 after acquiring an additional 6,020 shares during the period. Janus Henderson Group PLC grew its position in shares of Digimarc by 18.0% in the 3rd quarter. Janus Henderson Group PLC now owns 1,083,953 shares of the information technology services provider’s stock valued at $34,090,000 after acquiring an additional 165,356 shares during the period. BlackRock Inc. grew its position in shares of Digimarc by 0.9% in the 3rd quarter. BlackRock Inc. now owns 721,938 shares of the information technology services provider’s stock valued at $22,705,000 after acquiring an additional 6,457 shares during the period. Finally, Dimensional Fund Advisors LP bought a new position in shares of Digimarc in the 3rd quarter valued at about $245,000. Hedge funds and other institutional investors own 62.59% 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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