Should I buy or sell Magnite stock right now?

10 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Magnite in the last twelve months. There are currently 2 hold ratings and 8 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" MGNI shares. View MGNI analyst ratings or view top-rated stocks .

What is Magnite's stock price target for 2024?

10 Wall Street research analysts have issued twelve-month price targets for Magnite's shares. Their MGNI share price targets range from $12.00 to $18.00. On average, they expect the company's share price to reach $14.78 in the next twelve months. This suggests a possible upside of 67.5% from the stock's current price. View analysts price targets for MGNI or view top-rated stocks among Wall Street analysts .

How have MGNI shares performed in 2024?

Magnite's stock was trading at $9.34 on January 1st, 2024. Since then, MGNI shares have decreased by 5.6% and is now trading at $8.82. View the best growth stocks for 2024 here .

When is Magnite's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 8th 2024. View our MGNI earnings forecast .

How can I listen to Magnite's earnings call?

Magnite will be holding an earnings conference call on Wednesday, May 8th at 4:30 PM Eastern. Interested parties can register for or listen to the call using this link or dial in at 412-317-0088 with passcode "9955946".

How were Magnite's earnings last quarter?

Magnite, Inc. (NASDAQ:MGNI) posted its quarterly earnings results on Wednesday, February, 28th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.13. The firm earned $165.28 million during the quarter, compared to the consensus estimate of $160.24 million. Magnite had a positive trailing twelve-month return on equity of 2.52% and a negative net margin of 25.69%.

What ETFs hold Magnite's stock?

ETFs with the largest weight of Magnite (NASDAQ:MGNI) stock in their portfolio include SmartETFs Advertising & Marketing Technology ETF (MRAD) , AOT Growth & Innovation ETF (AOTG) , Harbor Small Cap Explorer ETF (QWST) , Nuveen Small Cap Select ETF (NSCS) , SPDR FactSet Innovative Technology ETF (XITK) and AdvisorShares Alpha DNA Equity Sentiment ETF (SENT) . First Trust Small Cap Growth AlphaDEX Fund (FYC) .

What guidance has Magnite issued on next quarter's earnings?

Magnite updated its first quarter 2024 earnings guidance on Wednesday, February, 28th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $122.0 million-$126.0 million, compared to the consensus revenue estimate of $119.6 million.

What other stocks do shareholders of Magnite own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Magnite investors own include Trade Desk (TTD) , Datadog (DDOG) , DocuSign (DOCU) , Tesla (TSLA) , CrowdStrike (CRWD) , Walt Disney (DIS) , Fastly (FSLY) , Fiverr International (FVRR) , QUALCOMM (QCOM) and Roku (ROKU) .

Who are Magnite's major shareholders?

Magnite's stock is owned by a variety of retail and institutional investors. Top institutional investors include Moody National Bank Trust Division (0.05%), IMC Chicago LLC (0.00%), Fulton Bank N.A. (0.02%), Strategic Advocates LLC (0.01%) and Guinness Atkinson Asset Management Inc (0.00%). Insiders that own company stock include Aaron Saltz , Adam Lee Soroca , Brian Gephart, David Buonasera, David Day , Douglas S Knopper , Joseph R Prusz, Joseph R Prusz , Katie Seitz Evans , Lisa L Troe , Michael G Barrett, Michael G Barrett , Paul Caine , Rachel Lam , Robert F Spillane, Sean Patrick Buckley, Shawna Hughes and Thomas Kershaw . View institutional ownership trends .

How do I buy shares of Magnite?

Shares of MGNI stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services. Compare Top Brokerages Here .

NASDAQ:MGNI

Magnite (MGNI) Stock Price, News & Analysis

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$8.82

-0.34 (-3.71%)

(As of 04/15/2024 ET)

Compare

Today's Range: $8.77
▼
$9.15
50-Day Range: $8.82
▼
$12.23
52-Week Range: $6.28
▼
$15.73

Volume: 1.01 million shs
Average Volume: 1.14 million shs
Market Capitalization: $1.20 billion

P/E Ratio: N/A
Dividend Yield: N/A
Price Target: $14.78

Get Magnite alerts:

Magnite MarketRank™ Stock Analysis

Analyst Rating: Moderate Buy
2.80 Rating Score
Upside/Downside: 67.5% Upside
$14.78 Price Target
Short Interest: Bearish
4.95% of Float Sold Short
Dividend Strength: N/A
Sustainability: N/A
News Sentiment: 0.80
Based on 3 Articles This Week
Insider Trading: Selling Shares
$840,750 Sold Last Quarter
Proj. Earnings Growth: 51.06%
From $0.47 to $0.71 Per Share

Overall MarketRank^™

New Rank-Based ScoringMarketRank^™ is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

4.14 out of 5 stars

Computer And Technology Sector

165th out of 591 stocks

Computer Programming, Data Processing, & Other Computer Related Industry

12th out of 60 stocks

4.4

Analyst's Opinion

Consensus Rating
Magnite has received a consensus rating of Moderate Buy. The company's average rating score is 2.80, and is based on 8 buy ratings, 2 hold ratings, and no sell ratings.
Amount of Analyst Coverage
Magnite has been the subject of 6 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

2.0

Short Interest

Percentage of Shares Shorted
4.95% of the float of Magnite has been sold short.
Short Interest Ratio / Days to Cover
Magnite has a short interest ratio ("days to cover") of 5.2.
Change versus previous month
Short interest in Magnite has recently increased by 1.68%, indicating that investor sentiment is decreasing.

0.0

Dividend Strength

Dividend Yield
Magnite does not currently pay a dividend.
Dividend Growth
Magnite does not have a long track record of dividend growth.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for MGNI.

2.1

News and Social Media Coverage

News Sentiment
Magnite has a news sentiment score of 0.80. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.59 average news sentiment score of Computer and Technology companies.
News Coverage This Week
MarketBeat has tracked 3 news articles for Magnite this week, compared to 3 articles on an average week.
Search Interest
Only 5 people have searched for MGNI on MarketBeat in the last 30 days. This is a decrease of -84% compared to the previous 30 days.
MarketBeat Follows
Only 4 people have added Magnite to their MarketBeat watchlist in the last 30 days. This is a decrease of -64% compared to the previous 30 days.

2.5

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Magnite insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $840,750.00 in company stock.
Percentage Held by Insiders
Only 4.30% of the stock of Magnite is held by insiders.
Percentage Held by Institutions
73.40% of the stock of Magnite is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

3.1

Earnings and Valuation

Earnings Growth
Earnings for Magnite are expected to grow by 51.06% in the coming year, from $0.47 to $0.71 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Magnite is -7.11, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Earnings Ratio vs. Sector
The P/E ratio of Magnite is -7.11, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Earnings Growth Ratio
Magnite has a PEG Ratio of 0.57. PEG Ratios below 1 indicate that a company could be undervalued.
Price to Book Value per Share Ratio
Magnite has a P/B Ratio of 1.73. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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About Magnite Stock (NASDAQ:MGNI)

Magnite, Inc., together with its subsidiaries, operates an independent omni-channel sell-side advertising platform in the United States and internationally. The company's platform offers applications and services for sellers of digital advertising inventory or publishers that own and operate CTV channels, applications, websites, and other digital media properties to manage and monetize their inventory; and applications and services for buyers, including advertisers, agencies, agency trading desks, and demand side platforms to buy digital advertising inventory, as well as an independent marketplace that connects buyers and sellers. It markets its solutions through sales teams that operate from various locations. The company was formerly known as The Rubicon Project, Inc. and changed name to Magnite, Inc. in July 2020. Magnite, Inc. was incorporated in 2007 and is headquartered in New York, New York.

MGNI Stock Price History

30 days | 90 days | 365 days | Advanced Chart

MGNI Stock News Headlines

March 19, 2024 | insidertrades.com

Michael G. Barrett Sells 75,000 Shares of Magnite, Inc. (NASDAQ:MGNI) Stock

April 16, 2024 | americanbankingnews.com

Magnite, Inc. (NASDAQ:MGNI) Given Consensus Rating of "Moderate Buy" by Brokerages

April 16, 2024 | InvestorPlace (Ad)

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April 11, 2024 | businesswire.com

KERV Interactive Partners with Magnite to Deliver AI-Powered Interactive Video Ads Programmatically, at Scale

April 8, 2024 | globenewswire.com

Magnite to Announce First Quarter 2024 Financial Results on May 8, 2024

March 21, 2024 | markets.businessinsider.com

Magnite’s Strategic Advantage and Revenue Prospects Bolster Buy Rating

March 21, 2024 | markets.businessinsider.com

Analyst Scoreboard: 10 Ratings For Magnite

March 20, 2024 | markets.businessinsider.com

Analysts Offer Insights on Communication Services Companies: Stagwell (STGW) and Magnite (MGNI)

April 16, 2024 | InvestorPlace (Ad)

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March 19, 2024 | msn.com

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March 17, 2024 | investing.com

Magnite chief product officer sells over $195k in company stock

March 16, 2024 | finance.yahoo.com

MGNI Apr 2024 7.500 call

March 15, 2024 | finance.yahoo.com

Insider Sell: Chief Product Officer Adam Soroca Sells 17,245 Shares of Magnite Inc (MGNI)

March 14, 2024 | globenewswire.com

Mediaocean and Magnite Strike Exclusive Partnership to Automate Media Planning, Execution, and Reconciliation in Streaming TV

March 12, 2024 | finance.yahoo.com

Shareholders in Magnite (NASDAQ:MGNI) have lost 75%, as stock drops 3.7% this past week

March 8, 2024 | seekingalpha.com

Magnite: Cash Flows Now Matter

March 6, 2024 | markets.businessinsider.com

Buy Rating Affirmed for Magnite on Strong CTV Growth and Financial Outlook

March 5, 2024 | finance.yahoo.com

Magnite, Inc. (NASDAQ:MGNI) Q4 2023 Earnings Call Transcript

March 4, 2024 | msn.com

'I Think You've Got An Interesting Stock Here': Cramer On This Advertising Company

March 4, 2024 | fool.com

3 Top Bargain Stocks Ready for a Bull Run

March 1, 2024 | seekingalpha.com

Magnite, Inc. (MGNI) Q4 2023 Earnings Call Transcript

February 29, 2024 | finanznachrichten.de

Magnite, Inc.: Magnite Reports Fourth Quarter and Full-Year 2023 Results

February 29, 2024 | markets.businessinsider.com

Hold Rating on Magnite Amidst Strong Q4 Performance and Cautious Market Outlook

February 29, 2024 | markets.businessinsider.com

Critical Insights From Magnite Analyst Ratings: What You Need To Know

February 29, 2024 | fool.com

Magnite (MGNI) Q4 2023 Earnings Call Transcript

February 28, 2024 | msn.com

Magnite Non-GAAP EPS of $0.29 beats by $0.01, revenue of $186.9M beats by $26.54M

February 28, 2024 | finance.yahoo.com

Magnite Inc (MGNI) Reports Solid Q4 and Full-Year 2023 Results with Revenue and EBITDA Growth

See More Headlines

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Company Calendar

Last Earnings: 2/28/2024
Today: 4/16/2024
Next Earnings (Confirmed): 5/08/2024
Fiscal Year End: 12/31/2024

Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange: NASDAQ
Sector: Computer and Technology
Industry: Computer programming, data processing, & other computer related
Sub-Industry: N/A
Current Symbol: NASDAQ:MGNI
CUSIP: N/A
CIK: 1595974
Web: www.magnite.com
Phone: (212) 243-2769
Fax: 310-207-0528
Employees: 911
Year Founded: N/A

Price Target and Rating

Average Stock Price Target: $14.78
High Stock Price Target: $18.00
Low Stock Price Target: $12.00
Potential Upside/Downside: +67.5%
Consensus Rating: Moderate Buy
Rating Score (0-4): 2.80
Research Coverage: 10 Analysts

Profitability

EPS (Most Recent Fiscal Year): ($1.24)
Trailing P/E Ratio: N/A
Forward P/E Ratio: 18.77
P/E Growth: 0.57
Net Income: $-159,180,000.00
Net Margins: -25.69%
Pretax Margin: -25.42%
Return on Equity: 2.52%
Return on Assets: 0.69%

Debt

Debt-to-Equity Ratio: 0.76
Current Ratio: 1.09
Quick Ratio: 1.09

Sales & Book Value

Annual Sales: $619.71 million
Price / Sales: 1.93
Cash Flow: $0.61 per share
Price / Cash Flow: 14.36
Book Value: $5.09 per share
Price / Book: 1.73

Miscellaneous

Outstanding Shares: 135,575,000
Free Float: 129,745,000
Market Cap: $1.20 billion
Optionable: Optionable
Beta: 2.25

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Key Executives

Mr. Michael G. Barrett (Age 62)
President, CEO & Director
Comp: $1.17M
Mr. David L. Day (Age 63)
Chief Financial Officer
Comp: $886.26k
Ms. Katie Evans (Age 38)
Chief Operating Officer
Comp: $786.86k
Mr. Adam Lee Soroca (Age 51)
Chief Product Officer
Comp: $785.94k
Mr. Sean Patrick Buckley
Chief Revenue Officer
Mr. Brian Gephart (Age 44)
Chief Accounting Officer
Mr. David Buonasera (Age 38)
Chief Technology Officer
Mr. Nick Kormeluk
VP of Investor Relations & Head of Global Real Estate
Mr. Aaron Saltz (Age 43)
Chief Legal Officer
Charlstie Veith
Global Head of Communications

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

MGNI Stock Analysis - Frequently Asked Questions

Should I buy or sell Magnite stock right now?: 10 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Magnite in the last twelve months. There are currently 2 hold ratings and 8 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" MGNI shares.
View MGNI analyst ratings or view top-rated stocks.
What is Magnite's stock price target for 2024?: 10 Wall Street research analysts have issued twelve-month price targets for Magnite's shares. Their MGNI share price targets range from $12.00 to $18.00. On average, they expect the company's share price to reach $14.78 in the next twelve months. This suggests a possible upside of 67.5% from the stock's current price.
View analysts price targets for MGNI or view top-rated stocks among Wall Street analysts.
How have MGNI shares performed in 2024?: Magnite's stock was trading at $9.34 on January 1st, 2024. Since then, MGNI shares have decreased by 5.6% and is now trading at $8.82.
View the best growth stocks for 2024 here.
When is Magnite's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 8th 2024.
View our MGNI earnings forecast.
How can I listen to Magnite's earnings call?: Magnite will be holding an earnings conference call on Wednesday, May 8th at 4:30 PM Eastern. Interested parties can register for or listen to the call using this link or dial in at 412-317-0088 with passcode "9955946".
How were Magnite's earnings last quarter?: Magnite, Inc. (NASDAQ:MGNI) posted its quarterly earnings results on Wednesday, February, 28th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.13. The firm earned $165.28 million during the quarter, compared to the consensus estimate of $160.24 million. Magnite had a positive trailing twelve-month return on equity of 2.52% and a negative net margin of 25.69%.

What ETFs hold Magnite's stock?: ETFs with the largest weight of Magnite (NASDAQ:MGNI) stock in their portfolio include SmartETFs Advertising & Marketing Technology ETF (MRAD), AOT Growth & Innovation ETF (AOTG), Harbor Small Cap Explorer ETF (QWST), Nuveen Small Cap Select ETF (NSCS), SPDR FactSet Innovative Technology ETF (XITK) and AdvisorShares Alpha DNA Equity Sentiment ETF (SENT).First Trust Small Cap Growth AlphaDEX Fund (FYC).
What guidance has Magnite issued on next quarter's earnings?: Magnite updated its first quarter 2024 earnings guidance on Wednesday, February, 28th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $122.0 million-$126.0 million, compared to the consensus revenue estimate of $119.6 million.
What other stocks do shareholders of Magnite own?: Based on aggregate information from My MarketBeat watchlists, some companies that other Magnite investors own include Trade Desk (TTD), Datadog (DDOG), DocuSign (DOCU), Tesla (TSLA), CrowdStrike (CRWD), Walt Disney (DIS), Fastly (FSLY), Fiverr International (FVRR), QUALCOMM (QCOM) and Roku (ROKU).
Who are Magnite's major shareholders?: Magnite's stock is owned by a variety of retail and institutional investors. Top institutional investors include Moody National Bank Trust Division (0.05%), IMC Chicago LLC (0.00%), Fulton Bank N.A. (0.02%), Strategic Advocates LLC (0.01%) and Guinness Atkinson Asset Management Inc (0.00%). Insiders that own company stock include Aaron Saltz, Adam Lee Soroca, Brian Gephart, David Buonasera, David Day, Douglas S Knopper, Joseph R Prusz, Joseph R Prusz, Katie Seitz Evans, Lisa L Troe, Michael G Barrett, Michael G Barrett, Paul Caine, Rachel Lam, Robert F Spillane, Sean Patrick Buckley, Shawna Hughes and Thomas Kershaw.
View institutional ownership trends.
How do I buy shares of Magnite?: Shares of MGNI stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NASDAQ:MGNI) was last updated on 4/16/2024 by MarketBeat.com Staff

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