Needham & Company LLC Reaffirms “Buy” Rating for Digimarc (NASDAQ:DMRC)

Needham & Company LLC reaffirmed their buy rating on shares of Digimarc (NASDAQ:DMRC) in a research note released on Wednesday, Marketbeat Ratings reports. Needham & Company LLC currently has a $40.00 price objective on the information technology services provider’s stock.

Separately, 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 report on Friday, May 3rd.

Digimarc Stock Up 0.2 %

NASDAQ:DMRC opened at $26.07 on Wednesday. The firm has a market capitalization of $557.19 million, a PE ratio of -12.53 and a beta of 1.73. The stock’s 50-day simple moving average is $30.13 and its 200 day simple moving average is $29.32. Digimarc has a twelve month low of $21.00 and a twelve month high of $43.43.

Digimarc (NASDAQ:DMRC) last posted its earnings results on Tuesday, August 13th. The information technology services provider reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.04. 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 for the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in DMRC. Vanguard Group Inc. increased its position in shares of Digimarc by 1.7% during the first quarter. Vanguard Group Inc. now owns 1,169,976 shares of the information technology services provider’s stock worth $31,800,000 after buying an additional 19,460 shares during the period. Beaconlight Capital LLC boosted its position in Digimarc by 34.7% during the first quarter. Beaconlight Capital LLC now owns 778,017 shares of the information technology services provider’s stock valued at $21,147,000 after acquiring an additional 200,251 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Digimarc by 1,834.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 547,966 shares of the information technology services provider’s stock worth $19,793,000 after acquiring an additional 519,643 shares during the period. Silverberg Bernstein Capital Management LLC raised its position in shares of Digimarc by 2.1% in the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 442,053 shares of the information technology services provider’s stock worth $13,708,000 after acquiring an additional 9,000 shares in the last quarter. Finally, Private Advisor Group LLC lifted its stake in shares of Digimarc by 4.4% in the 2nd quarter. Private Advisor Group LLC now owns 351,908 shares of the information technology services provider’s stock valued at $10,913,000 after purchasing an additional 14,884 shares during the period. Institutional investors own 66.85% of the company’s stock.

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.