Digimarc (NASDAQ:DMRC) Earns Buy Rating from Needham & Company LLC

Digimarc (NASDAQ:DMRC)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a research note issued on Friday,Benzinga reports. They currently have a $40.00 price objective on the information technology services provider’s stock. Needham & Company LLC’s target price would indicate a potential upside of 32.80% from the stock’s current price.

Separately, StockNews.com raised Digimarc to a “sell” rating in a research report on Tuesday, September 17th.

Digimarc Stock Performance

Shares of NASDAQ DMRC opened at $30.12 on Friday. Digimarc has a fifty-two week low of $21.00 and a fifty-two week high of $43.43. The company has a market cap of $645.17 million, a PE ratio of -15.21 and a beta of 1.68. The business has a 50-day simple moving average of $29.67 and a two-hundred day simple moving average of $28.73.

Digimarc (NASDAQ:DMRC) last released its earnings results on Tuesday, August 13th. The information technology services provider reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.04. The company had revenue of $10.38 million for the quarter. Digimarc had a negative net margin of 105.98% and a negative return on equity of 41.60%.

Institutional Trading of Digimarc

Several institutional investors and hedge funds have recently bought and sold shares of the business. Kimelman & Baird LLC purchased a new position in shares of Digimarc during the second quarter worth $18,249,000. Beaconlight Capital LLC grew its holdings in Digimarc by 34.7% during the first quarter. Beaconlight Capital LLC now owns 778,017 shares of the information technology services provider’s stock worth $21,147,000 after acquiring an additional 200,251 shares during the period. Woodson Capital Management LP purchased a new position in Digimarc during the first quarter valued at approximately $2,718,000. Squarepoint Ops LLC acquired a new position in Digimarc in the second quarter valued at approximately $747,000. Finally, Vanguard Group Inc. boosted its position in Digimarc by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 1,169,976 shares of the information technology services provider’s stock worth $31,800,000 after purchasing an additional 19,460 shares in the last quarter. 66.85% of the stock is currently owned by institutional investors and hedge funds.

About Digimarc

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.