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

Digimarc (NASDAQ:DMRC) posted its earnings results on Tuesday. The information technology services provider reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $10.38 million during the quarter.

Digimarc Stock Up 6.0 %

DMRC stock traded up $1.46 during midday trading on Thursday, reaching $25.61. The company’s stock had a trading volume of 47,003 shares, compared to its average volume of 132,051. The business’s 50-day simple moving average is $30.24 and its 200-day simple moving average is $29.48. The stock has a market cap of $547.36 million, a PE ratio of -11.61 and a beta of 1.73. Digimarc has a 52 week low of $21.00 and a 52 week high of $43.43.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DMRC. Craig Hallum reduced their target price on shares of Digimarc from $35.00 to $28.00 and set a “hold” rating on the stock in a research report on Friday, May 3rd. Needham & Company LLC restated a “buy” rating and set a $40.00 target price 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.