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

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

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

Digimarc Stock Performance

Shares of NASDAQ:DMRC opened at $30.12 on Friday. The firm has a market cap of $645.17 million, a PE ratio of -15.21 and a beta of 1.68. The firm’s 50 day simple moving average is $29.67 and its 200-day simple moving average is $28.73. Digimarc has a one year low of $21.00 and a one year high of $43.43.

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

Institutional Trading of Digimarc

A number of hedge funds have recently bought and sold shares of DMRC. West Branch Capital LLC bought a new position in shares of Digimarc in the 2nd quarter worth $62,000. nVerses Capital LLC bought a new position in Digimarc in the second quarter worth about $62,000. SG Americas Securities LLC bought a new position in Digimarc in the third quarter worth about $106,000. FMR LLC lifted its position in shares of Digimarc by 201.6% during the third 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 during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Digimarc in the 2nd quarter valued at about $148,000. Hedge funds and other institutional investors own 66.85% of the company’s stock.

Digimarc Company Profile

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.