Needham & Company LLC Boosts Nexxen International (NASDAQ:NEXN) Price Target to $14.00

Nexxen International (NASDAQ:NEXN) had its target price boosted by research analysts at Needham & Company LLC from $12.00 to $14.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price would suggest a potential upside of 24.89% from the company’s previous close.

A number of other research firms also recently issued reports on NEXN. Canaccord Genuity Group lifted their price objective on Nexxen International from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. Craig Hallum assumed coverage on Nexxen International in a research note on Thursday, April 10th. They issued a “buy” rating and a $15.00 price objective on the stock. Raymond James raised Nexxen International from a “market perform” rating to an “outperform” rating and set a $15.00 price objective on the stock in a research note on Monday, May 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $22.00 price objective on shares of Nexxen International in a research note on Monday, January 27th. Finally, Rosenblatt Securities lifted their price objective on Nexxen International from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Nexxen International Stock Down 3.4%

NASDAQ NEXN opened at $11.21 on Thursday. The stock’s 50 day moving average is $9.01 and its 200 day moving average is $14.37. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.04. Nexxen International has a 12 month low of $6.93 and a 12 month high of $21.88. The stock has a market cap of $710.90 million, a PE ratio of 280.25 and a beta of 1.78.

Nexxen International declared that its board has authorized a stock buyback plan on Wednesday, March 5th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 8.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Nexxen International

Large investors have recently modified their holdings of the stock. Advisors Preferred LLC bought a new position in shares of Nexxen International during the 4th quarter valued at approximately $69,000. Virtu Financial LLC bought a new position in shares of Nexxen International during the 4th quarter valued at approximately $110,000. D.A. Davidson & CO. bought a new position in shares of Nexxen International during the 4th quarter valued at approximately $121,000. Jane Street Group LLC bought a new position in shares of Nexxen International during the 4th quarter valued at approximately $121,000. Finally, Sei Investments Co. bought a new position in shares of Nexxen International during the 4th quarter valued at approximately $127,000. Institutional investors own 54.24% of the company’s stock.

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.