Needham & Company LLC Cuts Digimarc (NASDAQ:DMRC) Price Target to $10.00

Digimarc (NASDAQ:DMRC) had its target price lowered by analysts at Needham & Company LLC from $20.00 to $10.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the information technology services provider’s stock. Needham & Company LLC’s price objective points to a potential upside of 53.14% from the company’s current price.

A number of other research analysts also recently weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Digimarc in a research report on Wednesday, January 21st. Wall Street Zen upgraded shares of Digimarc from a “sell” rating to a “hold” rating in a research note on Saturday. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $10.00.

Digimarc Price Performance

Digimarc stock opened at $6.53 on Monday. Digimarc has a one year low of $4.07 and a one year high of $15.18. The business’s fifty day moving average is $5.64 and its 200 day moving average is $7.59. The stock has a market capitalization of $144.25 million, a PE ratio of -4.35 and a beta of 1.70.

Digimarc (NASDAQ:DMRC) last issued its earnings results on Wednesday, March 11th. The information technology services provider reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.07. The business had revenue of $8.91 million during the quarter, compared to analyst estimates of $8.22 million. Digimarc had a negative return on equity of 38.41% and a negative net margin of 95.27%.

Institutional Investors Weigh In On Digimarc

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Samjo Management LLC lifted its position in shares of Digimarc by 3.8% in the second quarter. Samjo Management LLC now owns 37,075 shares of the information technology services provider’s stock valued at $490,000 after acquiring an additional 1,350 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Digimarc by 25.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 13,866 shares of the information technology services provider’s stock valued at $91,000 after purchasing an additional 2,800 shares during the period. Occudo Quantitative Strategies LP lifted its holdings in Digimarc by 18.4% in the 3rd quarter. Occudo Quantitative Strategies LP now owns 24,977 shares of the information technology services provider’s stock worth $244,000 after purchasing an additional 3,880 shares in the last quarter. Turim 21 Investimentos Ltda. boosted its stake in Digimarc by 4.1% in the 3rd quarter. Turim 21 Investimentos Ltda. now owns 98,475 shares of the information technology services provider’s stock worth $962,000 after purchasing an additional 3,922 shares during the period. Finally, Private Advisor Group LLC grew its holdings in Digimarc by 1.1% during the 3rd quarter. Private Advisor Group LLC now owns 466,358 shares of the information technology services provider’s stock valued at $4,556,000 after buying an additional 4,890 shares in the last quarter. 66.85% of the stock is owned by institutional investors.

Digimarc Company Profile

Digimarc Corporation is a technology company specializing in digital identification and authentication solutions. Its core offering centers on embedding imperceptible digital watermarks into images, audio, video and packaging materials. These watermarks carry unique identifiers that enable secure tracking, brand protection and content provenance across print and digital channels.

The company’s product suite includes software development kits and cloud-based services that allow enterprises to integrate digital watermarking into their existing workflows.