Nexxen International (NASDAQ:NEXN) Given New $9.00 Price Target at Needham & Company LLC

Nexxen International (NASDAQ:NEXN) had its price objective lowered by analysts at Needham & Company LLC from $14.00 to $9.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price points to a potential upside of 41.29% from the company’s current price.

NEXN has been the subject of a number of other reports. BTIG Research began coverage on shares of Nexxen International in a report on Tuesday, October 7th. They set a “buy” rating and a $13.00 target price for the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $16.00 price target on shares of Nexxen International in a research report on Friday, August 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Nexxen International in a research report on Wednesday, October 8th. Finally, Wall Street Zen cut Nexxen International from a “buy” rating to a “hold” rating in a research note on Friday, August 22nd. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $13.11.

Nexxen International Trading Down 20.8%

NEXN stock traded down $1.67 during trading on Thursday, hitting $6.37. 1,341,812 shares of the company traded hands, compared to its average volume of 419,665. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.35 and a current ratio of 1.35. The company has a 50-day moving average of $8.82 and a 200-day moving average of $9.86. The firm has a market capitalization of $403.99 million, a PE ratio of 10.11 and a beta of 1.70. Nexxen International has a 1 year low of $6.08 and a 1 year high of $12.60.

Nexxen International (NASDAQ:NEXN) last released its quarterly earnings data on Thursday, November 13th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.08). Nexxen International had a net margin of 13.37% and a return on equity of 13.64%. Nexxen International has set its FY 2025 guidance at EPS. Analysts predict that Nexxen International will post 0.25 earnings per share for the current fiscal year.

Nexxen International declared that its Board of Directors has authorized a share buyback plan on Friday, August 15th that allows the company to buyback $20.00 million in shares. This buyback authorization allows the company to buy up to 3.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Nexxen International

Institutional investors and hedge funds have recently modified their holdings of the company. California State Teachers Retirement System bought a new position in Nexxen International in the second quarter worth approximately $25,000. Quantbot Technologies LP bought a new position in shares of Nexxen International in the 3rd quarter worth $43,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Nexxen International during the 2nd quarter worth $90,000. SG Americas Securities LLC purchased a new stake in shares of Nexxen International during the 3rd quarter worth $102,000. Finally, New York State Common Retirement Fund purchased a new stake in Nexxen International during the second quarter valued at approximately $124,000. 54.24% of the stock is currently owned by institutional investors.

About Nexxen International

Tremor International Ltd provides end-to-end software platform that enables advertisers to reach relevant audiences and publishers. 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.