Strong Performance Supported by Increased Trading Volume
Nexxen International Ltd. Sponsored ADR (NEXN) saw its shares jump 9.6% on Thursday, closing at $8.66. This increase was driven by high trading volume, significantly surpassing the normal levels. Over the past month, the stock has gained 7.2%.
Positive Earnings Forecast and Revenue Growth Expectations
The company’s growth is attributed to its recent rebranding and improved sales, along with expanding CTV partnerships and better market conditions. Analysts anticipate that Nexxen will report quarterly earnings of $0.16 per share, reflecting a year-over-year increase of 77.8%. Expected revenues are projected at $87.5 million, marking a 9.3% rise from the same quarter last year.
Keeping an Eye on Earnings Estimates and Stock Performance
When evaluating stock strength, earnings estimate revisions play a critical role. For Nexxen International Ltd. Sponsored ADR, the consensus EPS estimate has not changed in the last 30 days. Typically, a stock’s price does not continue to rise without positive earnings revisions. Therefore, it’s important to monitor NEXN to see if this recent price momentum continues.
Zacks Rank and Industry Comparisons
NEXN holds a Zacks Rank of #1 (Strong Buy). In the same advertising and marketing sector, Stagwell Inc. (STGW) closed up 2.5% at $7.02, although it has seen a -6.6% return over the last month. For Stagwell, the EPS estimate has remained steady at $0.23, indicating a 27.8% increase compared to last year. Currently, Stagwell has a Zacks Rank of #3 (Hold).
Expert Guidance on Promising Stocks
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The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
