Needham & Company LLC Boosts Nexxen International (NASDAQ:NEXN) Price Target to $12.00

Nexxen International (NASDAQ:NEXN - Free Report) had its price target increased by Needham & Company LLC from $9.50 to $12.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also commented on NEXN. Lake Street Capital increased their price target on Nexxen International from $7.00 to $9.00 and gave the company a "buy" rating in a research note on Friday, August 23rd. Royal Bank of Canada upped their price objective on Nexxen International from $9.00 to $11.00 and gave the company an "outperform" rating in a research report on Friday, August 23rd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Nexxen International currently has a consensus rating of "Moderate Buy" and a consensus price target of $9.80.

Nexxen International Price Performance

Nexxen International stock traded down $0.21 during midday trading on Tuesday, reaching $10.08. 251,189 shares of the stock traded hands, compared to its average volume of 84,225. The stock's fifty day moving average is $8.53 and its 200-day moving average is $7.41. Nexxen International has a 12 month low of $4.17 and a 12 month high of $10.47. The stock has a market cap of $669.21 million, a P/E ratio of 252.00 and a beta of 1.93. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.04.

Institutional Investors Weigh In On Nexxen International

Several hedge funds and other institutional investors have recently modified their holdings of the business. Rock Point Advisors LLC purchased a new stake in shares of Nexxen International in the second quarter worth approximately $3,562,000. Rice Hall James & Associates LLC purchased a new stake in shares of Nexxen International in the third quarter worth approximately $2,449,000. Renaissance Technologies LLC purchased a new stake in shares of Nexxen International in the second quarter worth approximately $810,000. Dimensional Fund Advisors LP purchased a new stake in shares of Nexxen International in the second quarter worth approximately $451,000. Finally, Tidal Investments LLC raised its holdings in shares of Nexxen International by 4.6% in the third quarter. Tidal Investments LLC now owns 48,072 shares of the company's stock worth $386,000 after buying an additional 2,125 shares during the period. 54.24% of the stock is currently owned by hedge funds and other institutional investors.

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.