Digimarc Corporation (DMRC) Given Buy Rating at B. Riley

B. Riley restated their buy rating on shares of Digimarc Corporation (NASDAQ:DMRC) in a research note released on Friday. The brokerage currently has a $44.00 target price on the information technology services provider’s stock.

A number of other research firms also recently commented on DMRC. Zacks Investment Research upgraded shares of Digimarc Corporation from a sell rating to a hold rating in a research report on Tuesday, July 11th. Cowen and Company restated a buy rating and set a $50.00 price target on shares of Digimarc Corporation in a research report on Sunday, September 17th. BidaskClub downgraded shares of Digimarc Corporation from a buy rating to a hold rating in a research report on Tuesday, July 11th. Needham & Company LLC restated a buy rating and set a $42.00 price target on shares of Digimarc Corporation in a research report on Monday, July 10th. Finally, Craig Hallum downgraded shares of Digimarc Corporation from a buy rating to a hold rating in a research report on Friday, July 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. Digimarc Corporation presently has a consensus rating of Hold and an average price target of $45.75.

Digimarc Corporation (DMRC) opened at 35.25 on Friday. The stock’s market capitalization is $379.64 million. Digimarc Corporation has a 12-month low of $24.20 and a 12-month high of $41.75. The company’s 50-day moving average is $34.72 and its 200 day moving average is $32.71.

Digimarc Corporation (NASDAQ:DMRC) last issued its quarterly earnings data on Thursday, October 26th. The information technology services provider reported ($0.39) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.69) by $0.30. The firm had revenue of $8.68 million for the quarter, compared to the consensus estimate of $5.72 million. Digimarc Corporation had a negative net margin of 90.69% and a negative return on equity of 31.33%. Digimarc Corporation’s quarterly revenue was up 55.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.55) EPS. On average, analysts predict that Digimarc Corporation will post ($2.53) EPS for the current year.

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Several hedge funds have recently added to or reduced their stakes in the business. Baillie Gifford & Co. raised its position in shares of Digimarc Corporation by 3.4% during the 3rd quarter. Baillie Gifford & Co. now owns 261,462 shares of the information technology services provider’s stock worth $9,570,000 after buying an additional 8,564 shares in the last quarter. Kimelman & Baird LLC raised its position in shares of Digimarc Corporation by 1.1% during the 2nd quarter. Kimelman & Baird LLC now owns 291,958 shares of the information technology services provider’s stock worth $11,722,000 after buying an additional 3,180 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Digimarc Corporation by 6.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,339 shares of the information technology services provider’s stock worth $334,000 after buying an additional 540 shares in the last quarter. State Street Corp raised its position in shares of Digimarc Corporation by 4.7% during the 2nd quarter. State Street Corp now owns 167,370 shares of the information technology services provider’s stock worth $6,718,000 after buying an additional 7,581 shares in the last quarter. Finally, Lagoda Investment Management L.P. raised its position in shares of Digimarc Corporation by 9.5% during the 2nd quarter. Lagoda Investment Management L.P. now owns 666,546 shares of the information technology services provider’s stock worth $26,762,000 after buying an additional 58,053 shares in the last quarter. Institutional investors own 52.84% of the company’s stock.

Digimarc Corporation 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, Digimarc Barcode and Intuitive Computing Platform are designed to optimize the identification of consumer brand impressions, facilitating mobile-centric shopping.

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