At the time of writing, Magnite Inc [MGNI] stock is trading at $13.85, up 0.95%. An important factor to consider is whether the stock is rising or falling in short-term value. The MGNI shares have gain 6.21% over the last week, with a monthly amount glided 1.54%, 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 25, 2024, when Lake Street initiated its Buy rating and assigned the stock a price target of $21. Previously, Wolfe Research started tracking the stock with Outperform rating on July 16, 2024, and set its price target to $16. On May 24, 2024, upgrade upgraded it’s rating to Buy and revised its price target to $15 on the stock. BofA Securities initiated its recommendation with a Neutral and recommended $11 as its price target on January 11, 2024. Evercore ISI upgraded its rating to Outperform for this stock on August 16, 2023, and upped its price target to $14. In a note dated April 13, 2023, B. Riley Securities initiated an Buy rating and provided a target price of $15 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 $19.75 within the next 12 months. Magnite Inc [NASDAQ: MGNI] shares were valued at $13.85 at the most recent close of the market. An investor can expect a potential return of 42.6% based on the average MGNI price forecast.
Analyzing the MGNI fundamentals
According to Magnite Inc [NASDAQ:MGNI], the company’s sales were 649.22M for trailing twelve months, which represents an 6.78% jump. Gross Profit Margin for this corporation currently stands at 0.55% with Operating Profit Margin at 0.02%, Pretax Profit Margin comes in at -0.01%, and Net Profit Margin reading is -0.01%. To continue investigating profitability, this company’s Return on Assets is posted at -0.0, Equity is -0.01 and Total Capital is 0.01. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.8.
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 13.53 points at the first support level, and at 13.21 for the second support level. However, for the 1st resistance point, the stock is sitting at 14.23, and for the 2nd resistance point, it is at 14.61.
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 0.25. Considering the valuation of this stock, the price to sales ratio is 3.01, the price to book ratio is 2.74.
Transactions by insiders
Recent insider trading involved Buckley Sean Patrick, CHIEF REVENUE OFFICER, that happened on Aug 20 ’24 when 2623.0 shares were sold. CHIEF REVENUE OFFICER, Buckley Sean Patrick completed a deal on Aug 19 ’24 to sell 2623.0 shares. Meanwhile, CHIEF PRODUCT OFFICER Soroca Adam Lee sold 7910.0 shares on Aug 19 ’24.
