Royal Bank of Canada Increases Nexxen International (NASDAQ:NEXN) Price Target to $11.00

Nexxen International (NASDAQ:NEXN) had its price target increased by Royal Bank of Canada from $9.00 to $11.00 in a research note published on Friday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

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

Nexxen International Stock Performance

Nexxen International stock opened at $7.97 on Friday. The firm has a fifty day simple moving average of $6.50 and a two-hundred day simple moving average of $5.86. Nexxen International has a twelve month low of $3.15 and a twelve month high of $8.32. The company has a market capitalization of $545.15 million, a PE ratio of -61.31 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.

Nexxen International (NASDAQ:NEXN) last posted 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 positive return on equity of 5.89% and a negative net margin of 0.57%. The company had revenue of $88.58 million for the quarter, compared to the consensus estimate of $85.75 million. During the same quarter in the previous year, the business earned $0.03 earnings per share. Research analysts expect that Nexxen International will post 0.33 EPS for the current year.

Hedge Funds Weigh In On Nexxen International

A number of institutional investors have recently bought and sold shares of NEXN. Marshall Wace LLP bought a new stake in Nexxen International during the 2nd quarter valued at approximately $136,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Nexxen International during the second quarter valued at approximately $141,000. Dimensional Fund Advisors LP bought a new stake in shares of Nexxen International during the second quarter valued at approximately $451,000. Renaissance Technologies LLC purchased a new stake in Nexxen International in the second quarter worth $810,000. Finally, Rock Point Advisors LLC bought a new position in Nexxen International in the second quarter worth $3,562,000. 54.24% of the stock is owned by 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.