GARP Research maintains a 'Buy' on Digimarc (DMRC); See Continued Growth
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Price: $21.88 -1.57%
Rating Summary:
4 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
Rating Summary:
4 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
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GARP Research maintains a 'Buy' on Digimarc (NASDAQ: DMRC) price target of $26.00.
Analyst, Rob Furlong, said, "Shares dropped more than 13% on Digimarc’s 1Q12
earnings announcement. A large settlement with Verance masked softness in the business. We think this pause is temporary.
"Revenue jumped 88% y/y for 1Q12, largely due to the $8 million settlement received from Verance for royalty payments past due. Excluding this, sales would have been roughly flat. Last quarter, the Verance litigation was settled and Digimarc received $8 million in back payments. Excluding this, payment from Verance was down 25% from 1Q11, but the terms of the new contract should be reflected in 2Q12 revenue. We expect organic top-line growth from this customer to return then, which we think should be roughly in line with Blu-ray unit shipments."
For an analyst ratings summary and ratings history on Digimarc click here. For more ratings news on Digimarc click here.
Shares of Digimarc closed at $26.05 yesterday.
Analyst, Rob Furlong, said, "Shares dropped more than 13% on Digimarc’s 1Q12
earnings announcement. A large settlement with Verance masked softness in the business. We think this pause is temporary.
"Revenue jumped 88% y/y for 1Q12, largely due to the $8 million settlement received from Verance for royalty payments past due. Excluding this, sales would have been roughly flat. Last quarter, the Verance litigation was settled and Digimarc received $8 million in back payments. Excluding this, payment from Verance was down 25% from 1Q11, but the terms of the new contract should be reflected in 2Q12 revenue. We expect organic top-line growth from this customer to return then, which we think should be roughly in line with Blu-ray unit shipments."
For an analyst ratings summary and ratings history on Digimarc click here. For more ratings news on Digimarc click here.
Shares of Digimarc closed at $26.05 yesterday.
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