Interactive Brokers shares jump as it secures spot in S&P 500
Investing.com - Noble Capital initiated coverage on Newsmax (NYSE:NMAX) with an Outperform rating and a price target of $23.00 on Thursday. The target represents significant upside potential for the media company, which currently has a market capitalization of $1.56 billion and has seen its shares surge over 8% in the past week.
The research firm highlighted Newsmax’s position as a conservative media company with expanding reach across cable and digital platforms.
Noble Capital noted that Newsmax’s national cable channel has developed into the fourth most-watched cable news network in the United States, featuring a loyal core audience.
The firm pointed to Newsmax’s full distribution across major MVPDs and streaming platforms as a key strength for the media company.
Noble Capital expressed confidence that Newsmax is positioned to capitalize on a multi-year monetization opportunity through both advertising and affiliate fee revenue streams. While currently not profitable, InvestingPro analysis suggests the company’s Fair Value indicates potential overvaluation at current levels. Subscribers can access additional insights and 8 more ProTips about NMAX’s financial outlook.
In other recent news, Newsmax Inc. reported its second-quarter financial results, revealing a notable 18.4% increase in revenue, reaching $46.4 million. This growth was primarily driven by a 28.5% surge in broadcasting revenue, which totaled $38 million. Advertising revenue also saw a significant rise of 26.2%, amounting to $29.9 million, attributed to higher Nielsen ratings that enhanced advertising rates. Despite these positive revenue figures, the company reported an adjusted loss per share of -$0.59 for the quarter ending June 30, 2025.
In addition to financial updates, Newsmax announced the appointment of David Gandler, Co-Founder and CEO of FuboTV (NYSE:FUBO) Inc., to its Board of Directors. Gandler joins a board that includes notable figures such as Newsmax CEO Christopher Ruddy and former U.S. Secretary of Labor Alex Acosta. These developments are part of Newsmax’s ongoing efforts to strengthen its leadership and expand its broadcasting segment.
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