Digimarc (NASDAQ:DMRC) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Digimarc (NASDAQ:DMRC) released its quarterly earnings results on Tuesday. The information technology services provider reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.04, Zacks reports. Digimarc had a negative return on equity of 46.01% and a negative net margin of 114.38%. The company had revenue of $10.38 million during the quarter.

Digimarc Stock Down 20.9 %

Shares of DMRC stock traded down $6.03 during mid-day trading on Wednesday, reaching $22.81. The stock had a trading volume of 305,663 shares, compared to its average volume of 130,824. The firm’s 50 day simple moving average is $30.34 and its 200 day simple moving average is $29.52. Digimarc has a one year low of $21.00 and a one year high of $43.43. The firm has a market cap of $487.52 million, a PE ratio of -12.70 and a beta of 1.73.

Analysts Set New Price Targets

Several analysts recently weighed in on DMRC shares. Craig Hallum decreased their target price on Digimarc from $35.00 to $28.00 and set a “hold” rating for the company in a research note 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 note 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.