Nexxen International (NASDAQ:NEXN) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Nexxen International (NASDAQ:NEXN) had its target price raised by Needham & Company LLC from $8.50 to $9.50 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also recently issued reports on NEXN. Lake Street Capital lifted their price objective on shares of Nexxen International from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Royal Bank of Canada lifted their price objective on shares of Nexxen International from $9.00 to $11.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.30.

Nexxen International Stock Performance

NEXN opened at $9.03 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.47 and a current ratio of 1.47. Nexxen International has a 52-week low of $3.37 and a 52-week high of $9.32. The firm has a market cap of $601.58 million, a P/E ratio of 210.25 and a beta of 1.86. The business’s fifty day moving average is $7.86 and its 200-day moving average is $6.96.

Nexxen International (NASDAQ:NEXN) last announced its quarterly earnings data on Thursday, August 22nd. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The firm had revenue of $88.58 million for the quarter, compared to analyst estimates of $85.75 million. Nexxen International had a positive return on equity of 5.92% and a negative net margin of 0.57%. During the same quarter in the previous year, the company earned $0.03 earnings per share. Sell-side analysts expect that Nexxen International will post 0.55 EPS for the current fiscal year.

Institutional Trading of Nexxen International

A number of hedge funds have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd acquired a new stake in Nexxen International in the third quarter valued at approximately $123,000. Rice Hall James & Associates LLC acquired a new stake in Nexxen International in the third quarter valued at approximately $2,449,000. Blue Trust Inc. boosted its position in Nexxen International by 221.7% in the third quarter. Blue Trust Inc. now owns 5,704 shares of the company’s stock valued at $46,000 after buying an additional 3,931 shares in the last quarter. Guinness Atkinson Asset Management Inc acquired a new position in shares of Nexxen International during the third quarter worth $31,000. Finally, Marshall Wace LLP acquired a new position in shares of Nexxen International during the second quarter worth $136,000. Institutional investors and hedge funds own 54.24% of the company’s stock.

About Nexxen International

Nexxen International Ltd. provides end-to-end software platform that enables advertisers to reach publishers Israel. The company’s demand side platform (DSP) offers full-service and self-managed marketplace access to advertisers and agencies to execute their digital marketing campaigns in real time across various ad formats.