Needham & Company LLC Forecasts Strong Price Appreciation for Nexxen International (NASDAQ:NEXN) Stock

Nexxen International (NASDAQ:NEXN) had its target price increased by equities research analysts at Needham & Company LLC from $8.50 to $9.50 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target indicates a potential upside of 27.01% from the company’s current price.

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

Nexxen International Stock Performance

NEXN opened at $7.48 on Friday. The stock’s 50 day simple moving average is $7.86 and its 200-day simple moving average is $6.94. 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 market cap of $498.32 million, a PE 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.

Nexxen International (NASDAQ:NEXN) last announced its quarterly earnings results on Thursday, August 22nd. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $88.58 million during the quarter, compared to the consensus estimate of $85.75 million. During the same period last year, the firm earned $0.03 EPS. Sell-side analysts forecast that Nexxen International will post 0.55 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of NEXN. Rock Point Advisors LLC bought a new position in Nexxen International in the 2nd quarter valued at $3,562,000. Dimensional Fund Advisors LP acquired a new stake in shares of Nexxen International in the second quarter valued at $451,000. Renaissance Technologies LLC bought a new position in shares of Nexxen International in the second quarter valued at about $810,000. Vanguard Personalized Indexing Management LLC acquired a new position in Nexxen International during the 2nd quarter worth about $141,000. Finally, Marshall Wace LLP bought a new stake in Nexxen International during the 2nd quarter worth about $136,000. 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.