Nexxen International (NASDAQ:NEXN) Hits New 12-Month High on Analyst Upgrade

Nexxen International Ltd. (NASDAQ:NEXN)’s stock price reached a new 52-week high during trading on Monday after Royal Bank of Canada raised their price target on the stock from $9.00 to $11.00. Royal Bank of Canada currently has an outperform rating on the stock. Nexxen International traded as high as $8.20 and last traded at $8.18, with a volume of 17667 shares trading hands. The stock had previously closed at $7.99.

Several other equities research analysts also recently commented on NEXN. Lake Street Capital upped their target price on shares of Nexxen International from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Friday. JMP Securities reissued a “market outperform” rating and set a $11.00 price objective on shares of Nexxen International in a research report on Friday, June 14th. Needham & Company LLC increased their price objective on shares of Nexxen International from $6.50 to $8.50 and gave the stock a “buy” rating in a research report on Friday. Finally, Stifel Nicolaus increased their price objective on shares of Nexxen International from $5.50 to $6.00 and gave the stock a “hold” rating in a research report on Tuesday, May 21st. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $9.10.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP bought a new position in Nexxen International in the second quarter valued at $136,000. Vanguard Personalized Indexing Management LLC acquired a new stake in Nexxen International in the second quarter valued at $141,000. Dimensional Fund Advisors LP acquired a new stake in Nexxen International in the second quarter valued at $451,000. Renaissance Technologies LLC acquired a new stake in Nexxen International in the second quarter valued at $810,000. Finally, Rock Point Advisors LLC acquired a new stake in Nexxen International in the second quarter valued at $3,562,000. Institutional investors own 54.24% of the company’s stock.

Nexxen International Trading Up 2.3 %

The stock has a market cap of $558.83 million, a price-to-earnings ratio of -61.46 and a beta of 1.84. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.05. The business’s 50 day simple moving average is $6.47 and its 200 day simple moving average is $5.84.

Nexxen International (NASDAQ:NEXN) last posted 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). The company had revenue of $88.58 million for the quarter, compared to analyst estimates of $85.75 million. Nexxen International had a positive return on equity of 5.89% and a negative net margin of 0.57%. During the same quarter in the prior year, the business posted $0.03 EPS. On average, research analysts expect that Nexxen International Ltd. will post 0.33 EPS for the current fiscal year.

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.