Nexxen International Ltd. Sponsored ADR (NEXN) Soars 7.7%: Is Further Upside Left in the Stock?

Nexxen International Ltd. Sponsored ADR (NEXN) shares soared 7.7% in the last trading session to close at $8.97. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 13.7% loss over the past four weeks.The stock is benefiting from renewed investor confidence driven by the company's Curated Marketplace launch, active $20 million buyback program, and strong growth potential in the digital advertising sector.This company is expected to post quarterly earnings of $0.22 per share in its upcoming report, which represents a year-over-year change of +57.1%. Revenues are expected to be $97 million, up 7.6% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Nexxen International Ltd. Sponsored ADR, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on NEXN going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Nexxen International Ltd. Sponsored ADR is a member of the Zacks Advertising and Marketing industry. One other stock in the same industry, Clear Channel Outdoor (CCO), finished the last trading session 3.9% higher at $1.35. CCO has returned -3% over the past month.For Clear Channel Outdoor, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.04. This represents a change of +42.9% from what the company reported a year ago. Clear Channel Outdoor currently has a Zacks Rank of #2 (Buy).Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Nexxen International Ltd. Sponsored ADR (NEXN): Free Stock Analysis Report Clear Channel Outdoor Holdings, Inc. (CCO): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks