Destiny Media Technologies Inc. (DSNY) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Destiny Media Technologies Inc. (OTCMKTS:DSNY) from a hold rating to a buy rating in a research note issued to investors on Friday, July 21st. Zacks Investment Research currently has $0.25 target price on the technology company’s stock.

According to Zacks, “Destiny Media Technologies Inc. is a software development company which provides tools that some of the world’s largest media companies use to distribute their content on the Internet. Products include Play MPE, Clipstream and Radio Destiny. The Company develops technologies that allow for the distribution over the Internet of digital media files in either a streaming or digital download format. The technologies are proprietary. The Company operates out of Vancouver, BC, Canada and serves customers predominantly located in the United States and Canada. Destiny operates through its wholly owned subsidiaries, Destiny Software Productions Inc. and MPE Distribution, Inc. The Company has two main product lines: MPE, which enables content to be transferred permanently to authorized recipients, and Clipstream, an analogous to radio or television where content is streamed to the viewer in a transient manner. “

Separately, ValuEngine lowered Destiny Media Technologies from a hold rating to a sell rating in a research note on Thursday, July 13th.

Destiny Media Technologies (OTCMKTS:DSNY) remained flat at $0.25 during mid-day trading on Friday. The company’s stock had a trading volume of 1,000 shares. The stock’s 50-day moving average is $0.24 and its 200-day moving average is $0.22. The firm has a market capitalization of $13.75 million, a price-to-earnings ratio of 62.50 and a beta of 2.20. Destiny Media Technologies has a 12 month low of $0.13 and a 12 month high of $0.28.

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About Destiny Media Technologies

Destiny Media Technologies, Inc develops and markets services that enable the secure distribution of digital media content over the Internet. The Company’s services are based around security, watermarking and instant play streaming media technologies. The Company’s products and services include Clipstream Online Video Platform (OVP), Clipstream Online Video Platform and Play MPE.

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