Needham & Company LLC Issues Positive Forecast for Nexxen International (NASDAQ:NEXN) Stock Price

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

Other equities research analysts also recently issued reports about the company. Lake Street Capital boosted their target price on 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 lifted their price objective on Nexxen International from $9.00 to $11.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $9.30.

Nexxen International Price Performance

NEXN traded down $0.19 during trading on Friday, reaching $7.48. 382,318 shares of the company traded hands, compared to its average volume of 65,562. The company has a market cap of $498.32 million, a P/E ratio of -106.84 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 12-month low of $3.37 and a 12-month high of $8.69. The firm has a fifty day simple moving average of $7.86 and a 200 day simple moving average of $6.94.

Nexxen International (NASDAQ:NEXN) last posted its 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). 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 business posted $0.03 earnings per share. On average, equities analysts forecast that Nexxen International will post 0.55 EPS for the current year.

Institutional Investors Weigh In On Nexxen International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC bought a new position in shares of Nexxen International during the 2nd quarter valued at approximately $810,000. Dimensional Fund Advisors LP purchased a new position in Nexxen International during the second quarter worth $451,000. Rock Point Advisors LLC bought a new position in Nexxen International during the second quarter valued at $3,562,000. Rice Hall James & Associates LLC purchased a new stake in shares of Nexxen International in the third quarter valued at $2,449,000. Finally, 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. 54.24% of the stock is currently owned by hedge funds and other institutional investors.

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.