Nexxen International (NASDAQ:NEXN) Price Target Raised to $9.50 at Needham & Company LLC

Nexxen International (NASDAQ:NEXN) had its target price upped by research analysts at Needham & Company LLC from $8.50 to $9.50 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 27.35% from the company’s previous close.

Several other brokerages also recently weighed in on NEXN. Lake Street Capital increased their price target on Nexxen International from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Royal Bank of Canada boosted their price objective on shares of 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 issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $9.30.

Nexxen International Stock Performance

Shares of NASDAQ NEXN traded down $0.21 during trading on Friday, reaching $7.46. 350,644 shares of the company traded hands, compared to its average volume of 65,418. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.04. Nexxen International has a 52-week low of $3.37 and a 52-week high of $8.69. The stock has a market capitalization of $496.99 million, a PE ratio of -106.56 and a beta of 1.86. The firm has a 50 day simple moving average of $7.86 and a 200-day simple moving average of $6.92.

Nexxen International (NASDAQ:NEXN) last posted its quarterly earnings data 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). The company had revenue of $88.58 million for the quarter, compared to analysts’ expectations of $85.75 million. Nexxen International had a negative net margin of 0.57% and a positive return on equity of 5.92%. During the same period in the previous year, the firm earned $0.03 earnings per share. Equities research analysts anticipate that Nexxen International will post 0.55 earnings per share for the current year.

Institutional Trading of Nexxen International

Hedge funds have recently made changes to their positions in the company. Guinness Atkinson Asset Management Inc acquired a new position in Nexxen International in the third quarter valued at about $31,000. Blue Trust Inc. lifted its holdings in shares of Nexxen International by 221.7% in the 3rd quarter. Blue Trust Inc. now owns 5,704 shares of the company’s stock worth $46,000 after acquiring an additional 3,931 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of Nexxen International during the 3rd quarter worth approximately $123,000. Marshall Wace LLP acquired a new stake in Nexxen International in the 2nd quarter valued at approximately $136,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in Nexxen International in the second quarter valued at approximately $141,000. Hedge funds and other 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.