Nexxen International (NASDAQ:NEXN) Given New $8.50 Price Target at Needham & Company LLC

Nexxen International (NASDAQ:NEXN) had its price target hoisted by equities researchers at Needham & Company LLC from $6.50 to $8.50 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 10.25% from the stock’s current price.

NEXN has been the subject of several other reports. JMP Securities reaffirmed a “market outperform” rating and set a $11.00 price objective on shares of Nexxen International in a report on Friday, June 14th. Stifel Nicolaus lifted their price target on Nexxen International from $5.50 to $6.00 and gave the stock a “hold” rating in a research note on Tuesday, May 21st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $8.00 price objective on shares of Nexxen International in a research note on Friday, June 21st.

Nexxen International Stock Performance

Shares of NEXN opened at $7.71 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.05. Nexxen International has a 52-week low of $3.15 and a 52-week high of $7.88. The company has a 50-day simple moving average of $6.43 and a 200-day simple moving average of $5.81. The company has a market capitalization of $527.36 million, a PE ratio of -59.31 and a beta of 1.84.

Nexxen International (NASDAQ:NEXN) last issued its earnings results on Thursday, August 22nd. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). Nexxen International had a negative net margin of 3.12% and a positive return on equity of 4.86%. The company had revenue of $88.58 million during the quarter, compared to analysts’ expectations of $85.75 million. During the same period last year, the business posted $0.03 earnings per share. Equities research analysts predict that Nexxen International will post 0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nexxen International

Several hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP purchased a new stake in shares of Nexxen International in the second quarter valued at $136,000. Vanguard Personalized Indexing Management LLC acquired a new position in Nexxen International in the 2nd quarter valued at about $141,000. Dimensional Fund Advisors LP purchased a new position in Nexxen International in the 2nd quarter valued at about $451,000. Renaissance Technologies LLC acquired a new stake in shares of Nexxen International during the 2nd quarter worth about $810,000. Finally, Rock Point Advisors LLC purchased a new stake in shares of Nexxen International during the second quarter worth about $3,562,000. Hedge funds and other 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.