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

Nexxen International (NASDAQ:NEXN) had its target price hoisted by investment analysts at Needham & Company LLC from $7.50 to $8.50 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 18.15% from the stock’s current price.

A number of other equities research analysts have also commented on the stock. BTIG Research reduced their price objective on shares of Nexxen International from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Thursday, March 19th. Weiss Ratings restated a “hold (c)” rating on shares of Nexxen International in a report on Thursday, January 22nd. Canaccord Genuity Group cut their price target on shares of Nexxen International from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Rosenblatt Securities increased their price target on Nexxen International from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Finally, Scotiabank lowered their price objective on Nexxen International from $12.00 to $10.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 5th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Nexxen International has an average rating of “Moderate Buy” and a consensus target price of $10.81.

Nexxen International Trading Down 3.2%

Shares of Nexxen International stock traded down $0.24 during trading on Wednesday, hitting $7.19. The company’s stock had a trading volume of 275,001 shares, compared to its average volume of 337,069. The stock has a market cap of $404.88 million, a price-to-earnings ratio of 17.51 and a beta of 1.61. Nexxen International has a 52 week low of $5.60 and a 52 week high of $12.60. The stock has a 50-day moving average price of $7.07 and a two-hundred day moving average price of $6.77. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.29 and a quick ratio of 1.29.

Nexxen International (NASDAQ:NEXN) last issued its quarterly earnings results on Wednesday, April 1st. The company reported $0.06 earnings per share for the quarter. Nexxen International had a return on equity of 9.47% and a net margin of 6.87%.The company had revenue of $86.84 million during the quarter. Equities research analysts anticipate that Nexxen International will post 0.75 EPS for the current fiscal year.

Hedge Funds Weigh In On Nexxen International

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rock Point Advisors LLC raised its holdings in shares of Nexxen International by 42.5% in the 4th quarter. Rock Point Advisors LLC now owns 950,517 shares of the company’s stock worth $6,216,000 after purchasing an additional 283,295 shares during the period. Geode Capital Management LLC lifted its position in shares of Nexxen International by 1,062.0% during the second quarter. Geode Capital Management LLC now owns 509,808 shares of the company’s stock worth $5,307,000 after acquiring an additional 465,936 shares in the last quarter. ARK Investment Management LLC bought a new position in shares of Nexxen International in the third quarter worth $1,798,000. BNP Paribas Financial Markets raised its stake in shares of Nexxen International by 354.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 122,106 shares of the company’s stock valued at $1,271,000 after purchasing an additional 95,219 shares during the period. Finally, Navellier & Associates Inc. boosted its stake in Nexxen International by 4.0% in the 3rd quarter. Navellier & Associates Inc. now owns 110,156 shares of the company’s stock worth $1,019,000 after purchasing an additional 4,200 shares during the period. 54.24% of the stock is owned by hedge funds and other institutional investors.

About Nexxen International

Tremor International Ltd provides end-to-end software platform that enables advertisers to reach relevant audiences and publishers. 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. Its sell supply side platform (SSP) provides access to data and a comprehensive product suite to drive inventory management and revenue optimization. The company also offers data management platform solution, which integrates DSP and SSP solutions enabling advertisers and publishers to use data from various sources in order to optimize results of their advertising campaigns.