Citizens analyst Brianna Diaz reiterated a Market Outperform rating and $12.00 price target on Nexxen (NASDAQ: NEXN).

The analyst commented, "Nexxen continues to make meaningful progress in enterprise, with stronger customer adoption and growing utilization of multiple platform solutions helping drive accelerating revenue growth across both CTV and mobile. Management reiterated its multiple growth vectors, including expanding enterprise engagement, continued momentum in mobile through partnerships such as Unity (U, MO, $45 PT, Boone), and the ramp of Nexxen TV Home Screen, which is expected to begin contributing more meaningfully in 4Q26 and scale further throughout 2027. At the same time, the company is increasing investment across AI, infrastructure, data, and go-to-market initiatives, while also evaluating targeted M&A opportunities, which may moderate margin expansion in 2027. That said, we are aware that the company noted its ability to reach ~34% EBITDA margins in 2027 (~200bps Y/Y expansion). Overall, we believe Nexxen is successfully capitalizing on favorable ad tech industry trends and strengthening its competitive position for sustained growth. To that end, we reiterate our Market Perform rating and $12 price target based on ~4x our 2027 EBITDA of ~$146M."

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Shares of Nexxen closed at $10.74 yesterday.