Scotiabank Hikes Nexxen Price Target Following Record Q2 Results and Guidance Raise

Key Facts

Amid a shifting landscape in advertising technology and rising demand for connected TV solutions, Scotiabank has increased its price target for Nexxen to $13.00 from $11.00. According to reports, this upgrade follows the company's record second-quarter Contribution ex-TAC of $97.80 million, representing an 11% year-over-year increase. Furthermore, Nexxen raised its full-year guidance for the third time this year, bolstered by record programmatic revenue and strong performance in the Connected TV (CTV) segment.

The company's outperformance was driven by strategic AI investments and increased spending from enterprise customers utilizing the nexAI platform. Per analyst facts, programmatic revenue reached a record $95.20 million, up 12% compared to the previous year, signaling growing profitability from core advertising activities. This momentum underscores Nexxen's ability to exceed consensus estimates through deeper integration within customer workflows and expanded data products.

As of August 13, 2026, specific market price levels for the instrument were unavailable in the database; however, the trajectory remains bullish following the analyst revision. Investors should monitor broader market catalysts, such as the recent U.S. Non-Farm Payrolls data from August 7, which showed a decline of 23k jobs, as macroeconomic shifts continue to influence sentiment across the high-growth technology sector.