At the time of writing, Magnite Inc [MGNI] stock is trading at $11.79, down -3.60%. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The MGNI shares have gain 20.68% over the last week, with a monthly amount glided 30.13%, and seem to be holding up well over a long-time horizon.
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On 28, February 2024, Magnite Reports Fourth Quarter and Full-Year 2023 Results. In a post published today on Yahoo Finance, Total Revenue up 7% & Contribution ex-TAC(1) up 6% in Fourth Quarter.
From an analyst’s perspective:
Magnite Inc [NASDAQ: MGNI] stock has seen the most recent analyst activity on January 11, 2024, when BofA Securities initiated its Neutral rating and assigned the stock a price target of $11. Previously, Evercore ISI upgraded its rating to Outperform on August 16, 2023, and elevated its price target to $14. On April 13, 2023, B. Riley Securities initiated with a Buy rating and assigned a price target of $15 on the stock. The Benchmark Company started tracking the stock assigning a Buy rating and suggested a price target of $18 on July 14, 2022. Berenberg initiated its recommendation with a Buy and recommended $37 as its price target on September 22, 2021. Macquarie started tracking with a Outperform rating for this stock on August 31, 2021, and assigned it a price target of $39. In a note dated August 09, 2021, RBC Capital Mkts initiated an Outperform rating and provided a target price of $40 on this stock.
For the past year, the stock price of Magnite Inc fluctuated between $6.28 and $15.73. Currently, Wall Street analysts expect the stock to reach $23.5 within the next 12 months. Magnite Inc [NASDAQ: MGNI] shares were valued at $11.79 at the most recent close of the market. An investor can expect a potential return of 99.32% based on the average MGNI price forecast.
Analyzing the MGNI fundamentals
According to Magnite Inc [NASDAQ:MGNI], the company’s sales were 619.71M for trailing twelve months, which represents an 6.58% jump. Gross Profit Margin for this corporation currently stands at 0.34% with Operating Profit Margin at -0.24%, Pretax Profit Margin comes in at -0.25%, and Net Profit Margin reading is -0.26%. To continue investigating profitability, this company’s Return on Assets is posted at -0.06, Equity is -0.23 and Total Capital is -0.11. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.86.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 11.41 points at the first support level, and at 11.04 for the second support level. However, for the 1st resistance point, the stock is sitting at 12.19, and for the 2nd resistance point, it is at 12.60.
Magnite Inc [MGNI] reported earnings per share of $0.29 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.28/share, meaning a difference of $0.01 and a surprise factor of 3.60%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.12 per share as compared to estimates of $0.08 per share, a difference of $0.04 representing a surprise of 50.00%.
Ratios To Look Out For
It is important to note that Magnite Inc [NASDAQ:MGNI] has a current ratio of 1.09. In addition, the Quick Ratio stands at 1.09 and the Cash Ratio stands at 0.23. Considering the valuation of this stock, the price to sales ratio is 2.66, the price to book ratio is 2.33.
Transactions by insiders
Recent insider trading involved BARRETT MICHAEL G., CEO, that happened on Nov 15 when 75000.0 shares were sold. Chief Technology Officer, Buonasera David completed a deal on Sep 06 to sell 5444.0 shares. Meanwhile, Director Spillane Robert F sold 25000.0 shares on Aug 22.
