A share price of Magnite Inc [MGNI] is currently trading at $9.10, up 2.94%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The MGNI shares have gain 6.06% over the last week, with a monthly amount drifted -12.08%, and not seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Previously, BofA Securities started tracking the stock with Neutral rating on January 11, 2024, and set its price target to $11. On August 16, 2023, upgrade upgraded it’s rating to Outperform and revised its price target to $14 on the stock. B. Riley Securities started tracking the stock assigning a Buy rating and suggested a price target of $15 on April 13, 2023. The Benchmark Company initiated its recommendation with a Buy and recommended $18 as its price target on July 14, 2022. Berenberg started tracking with a Buy rating for this stock on September 22, 2021, and assigned it a price target of $37. In a note dated August 31, 2021, Macquarie initiated an Outperform rating and provided a target price of $39 on this stock.
Magnite Inc experienced fluctuations in its stock price throughout the past year between $6.28 and $15.73. Currently, Wall Street analysts expect the stock to reach $21.7 within the next 12 months. Magnite Inc [NASDAQ: MGNI] shares were valued at $9.10 at the most recent close of the market. An investor can expect a potential return of 138.46% based on the average MGNI price forecast.
Analyzing the MGNI fundamentals
Trailing Twelve Months sales for Magnite Inc [NASDAQ:MGNI] were 619.71M which represents 6.58% growth. Gross Profit Margin for this corporation currently stands at 0.33% 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. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.79.
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 8.87 points at the first support level, and at 8.63 for the second support level. However, for the 1st resistance point, the stock is sitting at 9.26, and for the 2nd resistance point, it is at 9.41.
Magnite Inc [MGNI] reported earnings per share of $0.29 for its fiscal quarter that ended on 12/31/2023. 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 9/30/2023 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
To put it in perspective, the Current Ratio for Magnite Inc [NASDAQ:MGNI] is 1.09. As well, the Quick Ratio is 1.09, while the Cash Ratio is 0.23. Considering the valuation of this stock, the price to sales ratio is 2.05, the price to book ratio is 1.80.
Transactions by insiders
Recent insider trading involved BARRETT MICHAEL G., CEO, that happened on Mar 15 ’24 when 75000.0 shares were sold. CHIEF PRODUCT OFFICER, Soroca Adam Lee completed a deal on Mar 14 ’24 to sell 17245.0 shares. Meanwhile, CEO BARRETT MICHAEL G. sold 75000.0 shares on Nov 15 ’23.
