Zacks: Brokerages Expect Digimarc Corp (DMRC) Will Announce Quarterly Sales of $5.27 Million

Wall Street brokerages expect that Digimarc Corp (NASDAQ:DMRC) will report sales of $5.27 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Digimarc’s earnings, with the lowest sales estimate coming in at $5.26 million and the highest estimate coming in at $5.28 million. Digimarc reported sales of $5.18 million in the same quarter last year, which indicates a positive year over year growth rate of 1.7%. The firm is expected to announce its next quarterly earnings results after the market closes on Wednesday, February 28th.

On average, analysts expect that Digimarc will report full year sales of $5.27 million for the current year, with estimates ranging from $25.61 million to $25.64 million. For the next fiscal year, analysts anticipate that the firm will post sales of $23.10 million per share, with estimates ranging from $22.92 million to $23.27 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Digimarc.

A number of brokerages have recently weighed in on DMRC. BidaskClub upgraded Digimarc from a “sell” rating to a “hold” rating in a research report on Wednesday, January 10th. Zacks Investment Research upgraded Digimarc from a “sell” rating to a “hold” rating in a research report on Tuesday, January 23rd. B. Riley restated a “buy” rating and issued a $44.00 price target on shares of Digimarc in a research report on Friday, October 27th. Finally, Cowen set a $50.00 price target on Digimarc and gave the company a “buy” rating in a research report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $45.33.

In related news, CEO Bruce L. Davis sold 9,444 shares of Digimarc stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $35.78, for a total transaction of $337,906.32. Following the completion of the sale, the chief executive officer now owns 87,014 shares in the company, valued at approximately $3,113,360.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Bernard Whitney sold 5,000 shares of Digimarc stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $37.20, for a total value of $186,000.00. Following the sale, the director now owns 33,630 shares of the company’s stock, valued at approximately $1,251,036. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,444 shares of company stock valued at $1,036,556. 7.50% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. Lagoda Investment Management L.P. increased its position in Digimarc by 3.1% during the 3rd quarter. Lagoda Investment Management L.P. now owns 687,296 shares of the information technology services provider’s stock worth $25,155,000 after purchasing an additional 20,750 shares in the last quarter. BlackRock Inc. increased its position in Digimarc by 1.3% during the 4th quarter. BlackRock Inc. now owns 609,488 shares of the information technology services provider’s stock worth $22,033,000 after purchasing an additional 7,896 shares in the last quarter. Vanguard Group Inc. increased its position in Digimarc by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 444,335 shares of the information technology services provider’s stock worth $17,840,000 after purchasing an additional 11,296 shares in the last quarter. Kimelman & Baird LLC increased its position in Digimarc by 1.1% during the 2nd quarter. Kimelman & Baird LLC now owns 291,958 shares of the information technology services provider’s stock worth $11,722,000 after purchasing an additional 3,180 shares in the last quarter. Finally, Baillie Gifford & Co. boosted its stake in Digimarc by 3.4% in the 3rd quarter. Baillie Gifford & Co. now owns 261,462 shares of the information technology services provider’s stock worth $9,570,000 after buying an additional 8,564 shares during the last quarter. Hedge funds and other institutional investors own 57.49% of the company’s stock.

Shares of Digimarc (NASDAQ DMRC) traded down $0.10 during mid-day trading on Friday, hitting $28.75. The stock had a trading volume of 120,307 shares, compared to its average volume of 89,979. Digimarc has a twelve month low of $24.20 and a twelve month high of $41.75. The stock has a market capitalization of $326.85, a PE ratio of -12.78 and a beta of -1.35.

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Digimarc Company Profile

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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Earnings History and Estimates for Digimarc (NASDAQ:DMRC)

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