Digimarc (NASDAQ:DMRC) Given New $10.00 Price Target at Needham & Company LLC

Digimarc (NASDAQ:DMRC) had its price target trimmed by Needham & Company LLC from $20.00 to $10.00 in a research report released on Monday,Benzinga reports. The brokerage currently has a buy rating on the information technology services provider’s stock.

A number of other equities analysts have also weighed in on DMRC. Wall Street Zen raised Digimarc from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Digimarc in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.00.

Digimarc Price Performance

DMRC opened at $6.19 on Monday. The firm has a market capitalization of $134.68 million, a price-to-earnings ratio of -4.13 and a beta of 1.70. The company’s 50 day simple moving average is $5.63 and its two-hundred day simple moving average is $7.57. Digimarc has a 1-year low of $4.07 and a 1-year high of $15.18.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in DMRC. Millennium Management LLC increased its stake in Digimarc by 123.1% during the fourth quarter. Millennium Management LLC now owns 268,986 shares of the information technology services provider’s stock worth $1,765,000 after acquiring an additional 148,435 shares during the last quarter. Silverberg Bernstein Capital Management LLC lifted its stake in shares of Digimarc by 11.6% in the 3rd quarter. Silverberg Bernstein Capital Management LLC now owns 693,182 shares of the information technology services provider’s stock valued at $6,773,000 after purchasing an additional 72,050 shares during the last quarter. Kimelman & Baird LLC lifted its stake in shares of Digimarc by 11.4% in the 2nd quarter. Kimelman & Baird LLC now owns 640,851 shares of the information technology services provider’s stock valued at $8,466,000 after purchasing an additional 65,609 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Digimarc by 915.0% during the 1st quarter. Jane Street Group LLC now owns 69,538 shares of the information technology services provider’s stock worth $891,000 after purchasing an additional 62,687 shares during the period. Finally, BNP Paribas Financial Markets increased its position in shares of Digimarc by 163.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 65,196 shares of the information technology services provider’s stock worth $637,000 after purchasing an additional 40,483 shares during the last quarter. 66.85% of the stock is currently owned by institutional investors and hedge funds.

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.