Digimarc (NASDAQ:DMRC) Earns “Buy” Rating from Needham & Company LLC

Digimarc (NASDAQ:DMRC)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research note issued to investors on Friday,Benzinga reports. They presently have a $40.00 target price on the information technology services provider’s stock. Needham & Company LLC’s target price would suggest a potential upside of 47.22% from the stock’s current price.

Separately, StockNews.com raised shares of Digimarc to a “sell” rating in a research report on Tuesday, September 17th.

Digimarc Trading Down 9.8 %

NASDAQ DMRC opened at $27.17 on Friday. The stock has a market cap of $582.01 million, a P/E ratio of -13.93 and a beta of 1.68. The stock’s fifty day moving average price is $29.70 and its 200-day moving average price is $28.82. Digimarc has a 12 month low of $21.00 and a 12 month high of $43.43.

Institutional Investors Weigh In On Digimarc

Several institutional investors have recently modified their holdings of DMRC. Kimelman & Baird LLC bought a new position in Digimarc during the 2nd quarter valued at about $18,249,000. Vanguard Group Inc. raised its holdings 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 valued at $31,800,000 after purchasing an additional 19,460 shares during the last quarter. Silverberg Bernstein Capital Management LLC lifted its position in Digimarc by 4.0% during the third quarter. Silverberg Bernstein Capital Management LLC now owns 459,933 shares of the information technology services provider’s stock valued at $12,363,000 after purchasing an additional 17,880 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Digimarc in the second quarter worth approximately $439,000. Finally, Squarepoint Ops LLC purchased a new stake in Digimarc in the second quarter worth approximately $747,000. 66.85% of the stock is owned by hedge funds and other institutional investors.

Digimarc Company Profile

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.