Digimarc Corporation (NASDAQ:DMRC) announced its earnings results on Thursday, October 26th. The information technology services provider reported ($0.39) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.69) by $0.30, Briefing.com reports. The company had revenue of $8.68 million for the quarter, compared to analyst estimates of $5.72 million. Digimarc Corporation had a negative return on equity of 30.98% and a negative net margin of 90.69%. The firm’s quarterly revenue was up 55.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.55) earnings per share.
Digimarc Corporation (DMRC) traded up $0.15 during trading on Friday, reaching $35.50. The company’s stock had a trading volume of 31,700 shares, compared to its average volume of 65,811. Digimarc Corporation has a 12-month low of $24.20 and a 12-month high of $41.75.
In other Digimarc Corporation news, EVP Joel Meyer sold 7,000 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $35.03, for a total value of $245,210.00. Following the sale, the executive vice president now owns 63,551 shares of the company’s stock, valued at approximately $2,226,191.53. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Bruce L. Davis sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $35.30, for a total value of $176,500.00. Following the completion of the sale, the chairman now directly owns 108,677 shares in the company, valued at approximately $3,836,298.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,000 shares of company stock worth $596,710. Company insiders own 7.50% of the company’s stock.
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A number of equities analysts have recently weighed in on DMRC shares. Zacks Investment Research lowered Digimarc Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. B. Riley restated a “buy” rating and set a $44.00 price objective on shares of Digimarc Corporation in a research note on Monday, July 24th. BidaskClub lowered Digimarc Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Finally, Cowen and Company set a $50.00 price objective on Digimarc Corporation and gave the stock a “buy” rating in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Digimarc Corporation has a consensus rating of “Hold” and an average price target of $45.75.
About Digimarc Corporation
Digimarc Corporation (Digimarc) enables governments and enterprises to give digital identities to media and objects that computers can sense and recognize. The Company’s Digimarc Discover, Digimarc Barcode and Intuitive Computing Platform are designed to optimize the identification of consumer brand impressions, facilitating mobile-centric shopping.
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