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.

Several other equities research analysts have also recently commented on NEXN. Royal Bank of Canada boosted their target price on Nexxen International from $9.00 to $11.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Lake Street Capital raised their target price on shares of Nexxen International from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $9.30.

Nexxen International Stock Up 20.7 %

Shares of NASDAQ NEXN opened at $9.03 on Friday. The stock has a market cap of $601.58 million, a P/E ratio of 210.25 and a beta of 1.86. The firm has a 50 day moving average price of $7.86 and a 200 day moving average price of $6.96. 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.

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

Institutional Trading of Nexxen International

Hedge funds and other institutional investors have recently modified their holdings of the stock. Guinness Atkinson Asset Management Inc acquired a new position in Nexxen International in the 3rd quarter valued at $31,000. Blue Trust Inc. boosted its position in shares of 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 acquiring an additional 3,931 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Nexxen International in the third quarter valued at about $123,000. Marshall Wace LLP bought a new position in Nexxen International during the second quarter worth about $136,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in Nexxen International in the 2nd quarter worth about $141,000. Institutional investors own 54.24% of the company’s stock.

Nexxen International Company Profile

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.