At the time of writing, Magnite Inc [MGNI] stock is trading at $19.14, up 6.54%. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The MGNI shares have gain 9.50% over the last week, with a monthly amount glided 11.54%, 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 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.
For the past year, the stock price of Magnite Inc fluctuated between $8.38 and $18.38. Currently, Wall Street analysts expect the stock to reach $20.33 within the next 12 months. Magnite Inc [NASDAQ: MGNI] shares were valued at $19.14 at the most recent close of the market. An investor can expect a potential return of 6.22% 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. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.85.
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 18.47 points at the first support level, and at 17.81 for the second support level. However, for the 1st resistance point, the stock is sitting at 19.48, and for the 2nd resistance point, it is at 19.83.
Ratios To Look Out For
It is important to note that Magnite Inc [NASDAQ:MGNI] has a current ratio of 1.11. In addition, the Quick Ratio stands at 1.11 and the Cash Ratio stands at 0.27. Considering the valuation of this stock, the price to sales ratio is 4.07, the price to book ratio is 3.72 and price to earnings (TTM) ratio is 166.58.
Transactions by insiders
Recent insider trading involved DAVID DAY, Officer, that happened on Feb 06 ’25 when 13245.0 shares were purchased. CHIEF FINANCIAL OFFICER, Day David completed a deal on Jan 03 ’25 to sell 13345.0 shares. Meanwhile, Officer DAVID DAY bought 13345.0 shares on Jan 03 ’25.
