Digimarc (NASDAQ:DMRC) Announces Earnings Results, Beats Estimates By $0.04 EPS

Digimarc (NASDAQ:DMRC) issued its quarterly earnings data on Tuesday. The information technology services provider reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.04, Zacks reports. Digimarc had a negative net margin of 114.38% and a negative return on equity of 46.01%. The business had revenue of $10.38 million during the quarter.

Digimarc Stock Up 7.2 %

Shares of DMRC stock traded up $1.73 during trading hours on Thursday, hitting $25.88. 150,719 shares of the company’s stock traded hands, compared to its average volume of 132,712. The stock’s fifty day simple moving average is $30.24 and its two-hundred day simple moving average is $29.48. Digimarc has a 12-month low of $21.00 and a 12-month high of $43.43. The stock has a market cap of $553.13 million, a price-to-earnings ratio of -12.48 and a beta of 1.73.

Analysts Set New Price Targets

DMRC has been the subject of a number of research analyst reports. Craig Hallum lowered their target price on Digimarc from $35.00 to $28.00 and set a “hold” rating for the company in a research note on Friday, May 3rd. Needham & Company LLC reissued a “buy” rating and set a $40.00 price objective on shares of Digimarc in a research report on Wednesday.

About Digimarc

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.