Digimarc Corp. (NASDAQ:DMRC) – Imperial Capital increased their FY2016 earnings per share estimates for Digimarc Corp. in a report released on Monday. Imperial Capital analyst J. Kessler now anticipates that the brokerage will post earnings per share of ($2.36) for the year, up from their prior estimate of ($2.49). Imperial Capital currently has a “Buy” rating and a $47.00 target price on the stock. Imperial Capital also issued estimates for Digimarc Corp.’s Q4 2016 earnings at ($0.56) EPS, Q1 2017 earnings at ($0.52) EPS, Q2 2017 earnings at ($0.52) EPS, Q3 2017 earnings at ($0.52) EPS, Q4 2017 earnings at ($0.52) EPS and FY2017 earnings at ($2.08) EPS.
Digimarc Corp. (NASDAQ:DMRC) last released its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.55) earnings per share for the quarter, topping the consensus estimate of ($0.58) by $0.03. Digimarc Corp. had a negative net margin of 98.10% and a negative return on equity of 38.75%. The business had revenue of $5.60 million for the quarter, compared to analysts’ expectations of $5.61 million. During the same period in the previous year, the company earned ($0.54) earnings per share. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year.
DMRC has been the subject of several other reports. Zacks Investment Research upgraded shares of Digimarc Corp. from a “sell” rating to a “hold” rating in a research note on Friday, July 29th. Needham & Company LLC decreased their price target on shares of Digimarc Corp. from $46.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, November 3rd. Finally, B. Riley reiterated a “buy” rating and issued a $44.00 price target on shares of Digimarc Corp. in a research note on Saturday, August 20th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Digimarc Corp. currently has an average rating of “Buy” and an average price target of $42.60.
Digimarc Corp. (NASDAQ:DMRC) opened at 32.40 on Wednesday. The company’s 50-day moving average is $31.97 and its 200 day moving average is $32.89. The stock’s market capitalization is $326.69 million. Digimarc Corp. has a 12-month low of $25.04 and a 12-month high of $44.94.
A number of hedge funds have recently added to or reduced their stakes in the stock. Lagoda Investment Management L.P. purchased a new stake in Digimarc Corp. during the third quarter worth $25,000,000. Hood River Capital Management LLC purchased a new stake in Digimarc Corp. during the third quarter worth $10,269,000. AWM Investment Company Inc. purchased a new stake in Digimarc Corp. during the third quarter worth $3,068,000. BlackRock Fund Advisors raised its stake in Digimarc Corp. by 23.2% in the third quarter. BlackRock Fund Advisors now owns 267,574 shares of the company’s stock worth $10,261,000 after buying an additional 50,352 shares in the last quarter. Finally, Senvest Management LLC raised its stake in Digimarc Corp. by 6.0% in the third quarter. Senvest Management LLC now owns 850,839 shares of the company’s stock worth $32,630,000 after buying an additional 47,820 shares in the last quarter. Institutional investors and hedge funds own 49.73% of the company’s stock.
About Digimarc Corp.