Digimarc (NASDAQ:DMRC) Announces Quarterly Earnings Results

Digimarc (NASDAQ:DMRC) posted its quarterly earnings results on Thursday. The information technology services provider reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.24, FiscalAI reports. Digimarc had a negative net margin of 99.80% and a negative return on equity of 34.31%. The business had revenue of $6.45 million for the quarter, compared to analysts’ expectations of $6.25 million.

Digimarc Price Performance

NASDAQ DMRC traded down $0.25 on Thursday, reaching $7.43. The company had a trading volume of 172,141 shares, compared to its average volume of 204,652. The firm has a 50-day moving average of $6.46 and a 200-day moving average of $7.14. Digimarc has a 1 year low of $4.07 and a 1 year high of $17.47. The firm has a market capitalization of $166.48 million, a PE ratio of -5.20 and a beta of 2.18.

Analysts Set New Price Targets

Several equities analysts recently weighed in on DMRC shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Digimarc in a research note on Thursday, October 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 target price on shares of Digimarc in a research note on Friday, August 14th. Finally, Wall Street Zen downgraded shares of Digimarc from a “hold” rating to a “sell” rating in a research note on Sunday. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $15.00.

Digimarc Company Profile

Digimarc Corporation (NASDAQ: DMRC) develops digital watermarking and product identification technologies. Its platform embeds imperceptible, machine-readable identifiers into images, audio, video, printed materials and product packaging, enabling businesses and devices to recognize, authenticate and track physical and digital objects. The company’s solutions support applications including brand protection, product authentication, supply-chain visibility, media management, content monetization and recycling.