Digimarc (NASDAQ:DMRC) Raised to Hold at Wall Street Zen

Key Points

• Digimarc was upgraded to Hold by Wall Street Zen, adding to a mixed analyst picture that currently includes one Buy and one Sell rating, with an overall consensus target price of $15.00.
• The stock opened at $5.99, well below its 52-week high of $17.47, and the company has a market cap of about $134.24 million.
• In its latest quarterly report, Digimarc beat earnings and revenue estimates, posting ($0.07) EPS versus expectations of ($0.36) and revenue of $7.58 million versus $7.05 million expected.

Digimarc (NASDAQ:DMRC - Get Free Report) was upgraded by Wall Street Zen to a "hold" rating in a research note issued on Saturday.

A number of other brokerages have also recently weighed in on DMRC. Needham & Company LLC increased their price target on Digimarc from $10.00 to $15.00 and gave the stock a "buy" rating in a research report on Thursday, May 14th. Weiss Ratings restated a "sell (e+)" rating on shares of Digimarc in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $15.00.

Digimarc Stock Performance

NASDAQ DMRC opened at $5.99 on Friday. Digimarc has a one year low of $4.07 and a one year high of $17.47. The company has a 50-day simple moving average of $10.13 and a 200-day simple moving average of $7.43. The firm has a market capitalization of $134.24 million, a PE ratio of -4.72 and a beta of 2.27.

Digimarc (NASDAQ:DMRC - Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The information technology services provider reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.29. Digimarc had a negative net margin of 85.75% and a negative return on equity of 21.81%. The firm had revenue of $7.58 million for the quarter, compared to analyst estimates of $7.05 million.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Silverberg Bernstein Capital Management LLC raised its holdings in shares of Digimarc by 7.6% during the first quarter. Silverberg Bernstein Capital Management LLC now owns 779,255 shares of the information technology services provider's stock valued at $3,826,000 after buying an additional 55,110 shares during the last quarter. Quantinno Capital Management LP boosted its position in shares of Digimarc by 179.6% during the first quarter. Quantinno Capital Management LP now owns 293,249 shares of the information technology services provider's stock worth $1,440,000 after buying an additional 188,361 shares during the period. Renaissance Technologies LLC bought a new position in Digimarc in the 1st quarter worth approximately $820,000. IMC Chicago LLC bought a new position in Digimarc in the 1st quarter worth approximately $82,000. Finally, Bryant Woods Investment Advisors LLC increased its position in Digimarc by 34.2% in the 1st quarter. Bryant Woods Investment Advisors LLC now owns 95,904 shares of the information technology services provider's stock valued at $471,000 after acquiring an additional 24,438 shares during the period. Institutional investors own 66.85% of the company's stock.

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.

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