At the time of writing, Magnite Inc [MGNI] stock is trading at $14.94, up 2.75%. An important factor to consider is whether the stock is rising or falling in short-term value. The MGNI shares have gain 5.06% over the last week, with a monthly amount glided 12.08%, and seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Magnite Inc [NASDAQ: MGNI] stock has seen the most recent analyst activity on July 16, 2024, when Wolfe Research initiated its Outperform rating and assigned the stock a price target of $16. Previously, BofA Securities upgraded its rating to Buy on May 24, 2024, and elevated its price target to $15. BofA Securities started tracking the stock assigning a Neutral rating and suggested a price target of $11 on January 11, 2024. Evercore ISI upgraded its rating to a Outperform and raised its price target to $14 on August 16, 2023. B. Riley Securities started tracking with a Buy rating for this stock on April 13, 2023, and assigned it a price target of $15. In a note dated July 14, 2022, The Benchmark Company initiated an Buy rating and provided a target price of $18 on this stock.
For the past year, the stock price of Magnite Inc fluctuated between $6.28 and $15.92. Currently, Wall Street analysts expect the stock to reach $19.94 within the next 12 months. Magnite Inc [NASDAQ: MGNI] shares were valued at $14.94 at the most recent close of the market. An investor can expect a potential return of 33.47% based on the average MGNI price forecast.
Analyzing the MGNI fundamentals
According to Magnite Inc [NASDAQ:MGNI], the company’s sales were 638.88M for trailing twelve months, which represents an 14.73% jump. Gross Profit Margin for this corporation currently stands at 0.44% with Operating Profit Margin at -0.11%, Pretax Profit Margin comes in at -0.13%, and Net Profit Margin reading is -0.12%. To continue investigating profitability, this company’s Return on Assets is posted at -0.03, Equity is -0.12 and Total Capital is -0.05. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.82.
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 14.51 points at the first support level, and at 14.07 for the second support level. However, for the 1st resistance point, the stock is sitting at 15.38, and for the 2nd resistance point, it is at 15.82.
Ratios To Look Out For
It is important to note that Magnite Inc [NASDAQ:MGNI] has a current ratio of 1.10. On the other hand, the Quick Ratio is 1.10, and the Cash Ratio is 0.22. Considering the valuation of this stock, the price to sales ratio is 3.27, the price to book ratio is 3.01.
Transactions by insiders
Recent insider trading involved Buckley Sean Patrick, CHIEF REVENUE OFFICER, that happened on Jul 16 ’24 when 19604.0 shares were sold. CEO, BARRETT MICHAEL G. completed a deal on Jul 15 ’24 to sell 100000.0 shares. Meanwhile, CHIEF FINANCIAL OFFICER Day David sold 19077.0 shares on Jul 15 ’24.
