Magnite Inc [MGNI] stock prices are down -0.96% to $16.46 at the moment. An important factor to consider is whether the stock is rising or falling in short-term value. The MGNI shares have gain 3.39% over the last week, with a monthly amount drifted -8.56%, and not 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 December 05, 2024, when Needham reiterated its Buy rating and also boosted its price target to $20 from $17. Previously, Scotiabank started tracking the stock with Sector Outperform rating on December 05, 2024, and set its price target to $22. On October 29, 2024, Wells Fargo initiated with a Equal Weight rating and assigned a price target of $13 on the stock. Lake Street started tracking the stock assigning a Buy rating and suggested a price target of $21 on July 25, 2024. Wolfe Research initiated its recommendation with a Outperform and recommended $16 as its price target on July 16, 2024. BofA Securities upgraded its rating to Buy for this stock on May 24, 2024, and upped its price target to $15.
The stock price of Magnite Inc [MGNI] has been fluctuating between $8.38 and $18.38 over the past year. Currently, Wall Street analysts expect the stock to reach $19.8 within the next 12 months. Magnite Inc [NASDAQ: MGNI] shares were valued at $16.46 at the most recent close of the market. An investor can expect a potential return of 20.29% based on the average MGNI price forecast.
Analyzing the MGNI fundamentals
The Magnite Inc [NASDAQ:MGNI] reported sales of 661.13M for trailing twelve months, representing a surge of 7.94%. 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. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.76.
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 16.21 points at the first support level, and at 15.97 for the second support level. However, for the 1st resistance point, the stock is sitting at 16.71, and for the 2nd resistance point, it is at 16.97.
Ratios To Look Out For
It’s worth pointing out that Magnite Inc [NASDAQ:MGNI]’s Current Ratio is 1.11. On the other hand, the Quick Ratio is 1.11, and the Cash Ratio is 0.27. Considering the valuation of this stock, the price to sales ratio is 3.50, the price to book ratio is 3.20 and price to earnings (TTM) ratio is 143.25.
Transactions by insiders
Recent insider trading involved Day David, CHIEF FINANCIAL OFFICER, that happened on Jan 03 ’25 when 13345.0 shares were sold. Officer, DAVID DAY completed a deal on Jan 03 ’25 to buy 13345.0 shares. Meanwhile, CHIEF FINANCIAL OFFICER Day David sold 13500.0 shares on Dec 17 ’24.
