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Digital watermarking firm Digimarc (NASDAQ: DMRC) rose after funding agency Needham upgraded the inventory citing expectations of robust recurring income progress.
The inventory was buying and selling on the time ~9.49% It was buying and selling greater at $28.73 noon Monday.
Needham analyst Joshua Reilly took over protection of the corporate and provided his tackle the Shares are purchased from maintain. The goal worth is $40.
DMRC has “developed a novel platform based mostly on its historic management in watermarking know-how” and supplies its prospects with a compelling ROI. The corporate’s annual recurring income is predicted to indicate robust progress over the subsequent 5 years.
The corporate’s relationship with Walmart, its recycling platform in Europe and “engaging unit economics” have been additionally seen as constructive.
The common sell-side analyst score on the inventory is a Maintain, with 2 analysts score the inventory a Maintain up to now 90 days.
In search of Alpha’s Quantitative Rankings system additionally charges DMRC a Maintain, with a rating of three.19 out of 5. is A+.
