B.Riley FBR Keeps a Buy Rating on Digimarc Corp (DMRC)

By Jason Carr

B.Riley FBR analyst Josh Nichols maintained a Buy rating on Digimarc Corp (DMRCResearch Report) today and set a price target of $44. The company’s shares closed yesterday at $33.10, close to its 52-week high of $34.80.

Nichols wrote:

“PT) reported 1Q results AMC on 5/1 with revenue of $5.7M beating both our and consensus estimates of $5.5M and $5.4M, respectively. EBITDA of $(6.3M) came in below our and consensus $(6.0M) as a result of additional opex investment related to employee compensation adjustments. Barcode and Discover bookings in 1Q were up 60% Y/Y to $0.8M. The big news disclosed on the call was that the company entered into a multi- year contract with Walmart covering all private brand enhancement and thermal label products across Walmart’s 4.7k U.S. stores, representing the first implementation of dynamic pricing in physical retail stores. The contract has an unlimited duration and is subject to termination for convenience by Walmart.”

According to TipRanks.com, Nichols is a 4-star analyst with an average return of 10.7% and a 41.1% success rate. Nichols covers the Consumer Goods sector, focusing on stocks such as Adesto Technologies Corp, Pointer Telocation Ltd, and Immersion Corp.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Digimarc Corp with a $40.33 average price target.

See today’s analyst top recommended stocks >>

The company has a one-year high of $34.80 and a one-year low of $14.03. Currently, Digimarc Corp has an average volume of 95.91K.

Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is negative on the stock. Most recently, in March 2019, Bernard Whitney, a Director at DMRC sold 2,500 shares for a total of $74,075.

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.