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

Nexxen International (NASDAQ:NEXN) had its price target raised by stock 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 would suggest a potential upside of 27.35% from the stock’s current price.

Several other research firms have also recently issued reports on NEXN. Royal Bank of Canada lifted their price objective 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 lifted 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. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $9.30.

Nexxen International Stock Down 2.7 %

Shares of NASDAQ:NEXN traded down $0.21 during trading on Friday, hitting $7.46. The company’s stock had a trading volume of 350,644 shares, compared to its average volume of 65,418. The company has a market capitalization of $496.99 million, a PE ratio of -106.56 and a beta of 1.86. 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 fifty-two week low of $3.37 and a fifty-two week high of $8.69. The business has a 50 day moving average price of $7.86 and a two-hundred day moving average price of $6.92.

Nexxen International (NASDAQ:NEXN) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $85.75 million. During the same quarter last year, the company earned $0.03 EPS. As a group, research 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 and other institutional investors have recently made changes to their positions in NEXN. Guinness Atkinson Asset Management Inc purchased a new position in Nexxen International during the 3rd quarter worth approximately $31,000. Blue Trust Inc. raised its holdings in Nexxen International by 221.7% during the third quarter. Blue Trust Inc. now owns 5,704 shares of the company’s stock worth $46,000 after purchasing an additional 3,931 shares in the last quarter. Quadrature Capital Ltd acquired a new position in Nexxen International during the third quarter worth $123,000. Marshall Wace LLP acquired a new stake in Nexxen International in the second quarter valued at $136,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of Nexxen International during the 2nd quarter worth $141,000. Institutional investors and hedge funds 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.