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

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

A number of other research firms also recently commented on NEXN. Royal Bank of Canada lifted their target price on shares of Nexxen International from $9.00 to $11.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Lake Street Capital upped their price objective on Nexxen International from $7.00 to $9.00 and gave the company a “buy” rating in a research report 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.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.30.

Nexxen International Stock Down 2.5 %

NEXN stock traded down $0.19 during midday trading on Friday, hitting $7.48. The company’s stock had a trading volume of 382,318 shares, compared to its average volume of 65,562. The company has a market cap of $498.32 million, a PE ratio of -106.84 and a beta of 1.86. The firm’s 50-day moving average is $7.86 and its 200-day moving average is $6.94. Nexxen International has a 12 month low of $3.37 and a 12 month 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.

Nexxen International (NASDAQ:NEXN) last released its quarterly earnings data on Thursday, August 22nd. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.02). The business had revenue of $88.58 million during the quarter, compared to the consensus estimate 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 business posted $0.03 earnings per share. On average, equities research analysts forecast that Nexxen International will post 0.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nexxen International

A number of hedge funds have recently modified their holdings of the business. Guinness Atkinson Asset Management Inc bought a new stake in Nexxen International during the third quarter valued at about $31,000. Blue Trust Inc. grew its stake in shares of Nexxen International by 221.7% during the 3rd 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 bought a new stake in Nexxen International during the 3rd quarter worth approximately $123,000. Marshall Wace LLP bought a new stake in Nexxen International during the 2nd quarter worth approximately $136,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of Nexxen International in the second quarter worth approximately $141,000. Institutional investors 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.