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

Nexxen International (NASDAQ:NEXN) had its target price lifted by Needham & Company LLC from $8.50 to $9.50 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts have also issued research reports about the stock. Lake Street Capital increased their price target on shares of Nexxen International from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Royal Bank of Canada raised their target price on Nexxen International from $9.00 to $11.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $9.30.

Nexxen International Trading Down 2.5 %

Shares of NEXN stock opened at $7.48 on Friday. The stock has a market cap of $498.32 million, a P/E ratio of 187.00 and a beta of 1.86. Nexxen International has a 1 year low of $3.37 and a 1 year high of $8.69. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.04. The stock has a 50 day simple moving average of $7.86 and a 200 day simple moving average of $6.95.

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

Institutional Trading of Nexxen International

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Guinness Atkinson Asset Management Inc acquired a new stake in shares of Nexxen International during the 3rd quarter valued at $31,000. Blue Trust Inc. raised 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 purchasing an additional 3,931 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Nexxen International during the third quarter valued at about $123,000. Marshall Wace LLP bought a new stake in shares of Nexxen International during the second quarter worth about $136,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of Nexxen International in the second quarter valued at approximately $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.