At the time of writing, Magnite Inc [MGNI] stock is trading at $17.06, down -0.76%. 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 2.77% over the last week, with a monthly amount glided 37.47%, and seem to be holding up well over a long-time horizon.
From an analyst’s perspective:
Magnite Inc [NASDAQ: MGNI] stock has seen the most recent analyst activity on October 29, 2024, when Wells Fargo initiated its Equal Weight rating and assigned the stock a price target of $13. Previously, Lake Street started tracking the stock with Buy rating on July 25, 2024, and set its price target to $21. On July 16, 2024, Wolfe Research initiated with a Outperform rating and assigned a price target of $16 on the stock. BofA Securities upgraded its rating to a Buy and increased its price target to $15 on May 24, 2024. BofA Securities started tracking with a Neutral rating for this stock on January 11, 2024, and assigned it a price target of $11. In a note dated August 16, 2023, Evercore ISI upgraded an Outperform rating on this stock and boosted its target price from $11 to $14.
For the past year, the stock price of Magnite Inc fluctuated between $8.05 and $18.38. Currently, Wall Street analysts expect the stock to reach $19.75 within the next 12 months. Magnite Inc [NASDAQ: MGNI] shares were valued at $17.06 at the most recent close of the market. An investor can expect a potential return of 15.77% based on the average MGNI price forecast.
Analyzing the MGNI fundamentals
According to Magnite Inc [NASDAQ:MGNI], the company’s sales were 661.13M for trailing twelve months, which represents an 7.94% jump. Gross Profit Margin for this corporation currently stands at 0.59% with Operating Profit Margin at 0.07%, Pretax Profit Margin comes in at 0.03%, and Net Profit Margin reading is 0.03%. To continue investigating profitability, this company’s Return on Assets is posted at 0.01, Equity is 0.02 and Total Capital is 0.03. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.76.
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 16.62 points at the first support level, and at 16.19 for the second support level. However, for the 1st resistance point, the stock is sitting at 17.40, and for the 2nd resistance point, it is at 17.75.
Ratios To Look Out For
It is important to note that Magnite Inc [NASDAQ:MGNI] has a current ratio of 1.11. As well, the Quick Ratio is 1.11, while the Cash Ratio is 0.27. Considering the valuation of this stock, the price to sales ratio is 3.63, the price to book ratio is 3.32 and price to earnings (TTM) ratio is 148.48.
Transactions by insiders
Recent insider trading involved Buonasera David, CHIEF TECHNOLOGY OFFICER, that happened on Nov 27 ’24 when 431.0 shares were sold. CEO, BARRETT MICHAEL G. completed a deal on Nov 25 ’24 to sell 27004.0 shares. Meanwhile, CHIEF LEGAL OFFICER Saltz Aaron sold 6110.0 shares on Nov 25 ’24.
