Digimarc Corp Receives a Buy from Needham

By Ryan Adsit

Needham analyst James Ricchiuti reiterated a Buy rating on Digimarc Corp (NASDAQ: DMRC) today and set a price target of $42. The company’s shares closed last Friday at $37.

According to TipRanks.com, Ricchiuti is a 5-star analyst with an average return of 14.0% and a 64.0% success rate. Ricchiuti covers the Consumer Goods sector, focusing on stocks such as Teledyne Technologies Inc, Electronics for Imaging, and Samsung Electronics.

Digimarc Corp has an analyst consensus of Moderate Buy, with a price target consensus of $42.

Based on Digimarc Corp’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $6.09 million and GAAP net loss of $6.22 million. In comparison, last year the company earned revenue of $5.58 million and had a GAAP net loss of $5.44 million.

Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Robert Chamness, the CLO of DMRC sold 14,583 shares for a total of $501,075.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Digimarc Corp. engages in the provision of media identification and management solutions. It develops solutions, license intellectual property and provides development services. It also connects print, audio and packaging to brand-defined online content; protects, identifies, and tracks digital files; and confirms content and objects are genuine, unaltered, and from an authorized source. Its products include Digimarc Discover and Digimarc Barcode. The company was founded on June 18, 2008 and is headquartered in Beaverton, OR.