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

Nexxen International (NASDAQ:NEXN) had its target price boosted by research analysts at Royal Bank of Canada from $9.00 to $11.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target suggests a potential upside of 37.67% from the company’s previous close.

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

Nexxen International Stock Up 3.6 %

Nexxen International stock opened at $7.99 on Friday. The company has a market cap of $552.41 million, a P/E ratio of -61.46 and a beta of 1.84. Nexxen International has a 1-year low of $3.15 and a 1-year high of $8.00. The company has a fifty day simple moving average of $6.47 and a 200 day simple moving average of $5.83. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.05.

Nexxen International (NASDAQ:NEXN) last announced its quarterly earnings data on Thursday, August 22nd. The company reported $0.07 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 firm had revenue of $88.58 million during the quarter, compared to the consensus estimate of $85.75 million. During the same period last year, the business earned $0.03 EPS. Research analysts anticipate that Nexxen International will post 0.33 earnings per share for the current fiscal year.

Institutional Trading of Nexxen International

A number of hedge funds have recently modified their holdings of the stock. Marshall Wace LLP acquired a new stake in shares of Nexxen International during the 2nd quarter worth about $136,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Nexxen International during the 2nd quarter worth about $141,000. Renaissance Technologies LLC acquired a new stake in shares of Nexxen International during the 2nd quarter worth about $810,000. Dimensional Fund Advisors LP acquired a new stake in Nexxen International in the 2nd quarter worth about $451,000. Finally, Rock Point Advisors LLC acquired a new stake in Nexxen International in the 2nd quarter worth about $3,562,000. Institutional investors and hedge funds own 54.24% of the company’s stock.

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.