Digimarc Corp. (NASDAQ:DMRC) has received an average recommendation of “Buy” from the five analysts that are covering the firm. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $44.75.
Several brokerages have commented on DMRC. Needham & Company LLC began coverage on Digimarc Corp. in a research note on Friday, September 9th. They set a “buy” rating and a $46.00 target price for the company. B. Riley reissued a “buy” rating and set a $44.00 target price on shares of Digimarc Corp. in a research note on Saturday, August 20th. Zacks Investment Research downgraded Digimarc Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, October 18th. Finally, Imperial Capital set a $47.00 target price on Digimarc Corp. and gave the stock a “buy” rating in a research note on Monday, November 21st.
Shares of Digimarc Corp. (NASDAQ:DMRC) opened at 31.40 on Tuesday. The firm’s 50-day moving average is $31.75 and its 200 day moving average is $32.91. The firm’s market capitalization is $316.61 million. Digimarc Corp. has a one year low of $25.04 and a one year high of $44.94.
Digimarc Corp. (NASDAQ:DMRC) last issued its earnings results on Wednesday, November 2nd. The company reported ($0.55) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.58) by $0.03. The firm earned $5.60 million during the quarter, compared to the consensus estimate of $5.61 million. Digimarc Corp. had a negative return on equity of 38.75% and a negative net margin of 98.10%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.54) earnings per share. Equities research analysts predict that Digimarc Corp. will post ($2.38) earnings per share for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in DMRC. Wells Fargo & Company MN increased its position in Digimarc Corp. by 27.8% in the third quarter. Wells Fargo & Company MN now owns 3,250 shares of the company’s stock valued at $124,000 after buying an additional 706 shares in the last quarter. American International Group Inc. increased its position in Digimarc Corp. by 7.4% in the second quarter. American International Group Inc. now owns 4,813 shares of the company’s stock valued at $154,000 after buying an additional 333 shares in the last quarter. Nationwide Fund Advisors increased its position in Digimarc Corp. by 5.1% in the second quarter. Nationwide Fund Advisors now owns 5,343 shares of the company’s stock valued at $171,000 after buying an additional 261 shares in the last quarter. BlackRock Advisors LLC increased its position in Digimarc Corp. by 43.6% in the third quarter. BlackRock Advisors LLC now owns 5,685 shares of the company’s stock valued at $218,000 after buying an additional 1,727 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in Digimarc Corp. during the third quarter valued at about $241,000. 49.73% of the stock is owned by institutional investors.