Analysts’ Recent Ratings Updates for Magnite (MGNI)

Several brokerages have updated their recommendations and price targets on shares of Magnite (NASDAQ: MGNI) in the last few weeks:

• 1/17/2025 – Magnite had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $20.00 price target on the stock.
• 1/16/2025 – Magnite had its price target raised by analysts at Wells Fargo & Company from $13.00 to $15.00. They now have an “equal weight” rating on the stock.
• 1/3/2025 – Magnite had its price target raised by analysts at Royal Bank of Canada from $19.00 to $22.00. They now have an “outperform” rating on the stock.
• 1/3/2025 – Magnite had its price target raised by analysts at Wolfe Research from $14.00 to $19.00. They now have an “outperform” rating on the stock.
• 12/5/2024 – Magnite is now covered by analysts at Scotiabank. They set a “sector outperform” rating and a $22.00 price target on the stock.
• 12/5/2024 – Magnite had its price target raised by analysts at Needham & Company LLC from $17.00 to $20.00. They now have a “buy” rating on the stock.

Magnite Price Performance

Shares of MGNI stock opened at $16.42 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization of $2.31 billion, a P/E ratio of 273.67, a P/E/G ratio of 0.81 and a beta of 2.51. The company’s 50-day simple moving average is $16.41 and its two-hundred day simple moving average is $14.40. Magnite, Inc. has a one year low of $8.38 and a one year high of $18.38.

Magnite (NASDAQ:MGNI) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.09). Magnite had a return on equity of 4.64% and a net margin of 2.62%. The business had revenue of $162.00 million during the quarter, compared to analysts’ expectations of $147.94 million. During the same period in the previous year, the company posted $0.02 EPS. As a group, equities analysts anticipate that Magnite, Inc. will post 0.33 EPS for the current year.

Insider Transactions at Magnite

In related news, CTO David Buonasera sold 1,969 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $16.31, for a total transaction of $32,114.39. Following the completion of the sale, the chief technology officer now owns 223,795 shares of the company’s stock, valued at $3,650,096.45. This represents a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Aaron Saltz sold 5,112 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $13.50, for a total transaction of $69,012.00. Following the sale, the insider now directly owns 307,745 shares of the company’s stock, valued at $4,154,557.50. The trade was a 1.63 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 366,097 shares of company stock valued at $6,165,147. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Magnite

Hedge funds and other institutional investors have recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Magnite by 973.5% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,380 shares of the company’s stock worth $58,000 after buying an additional 3,972 shares during the last quarter. Quarry LP raised its holdings in shares of Magnite by 446.8% in the third quarter. Quarry LP now owns 5,517 shares of the company’s stock worth $76,000 after buying an additional 4,508 shares during the last quarter. KBC Group NV raised its holdings in shares of Magnite by 66.5% in the fourth quarter. KBC Group NV now owns 5,943 shares of the company’s stock worth $95,000 after buying an additional 2,374 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Magnite by 87.0% in the third quarter. Blue Trust Inc. now owns 7,931 shares of the company’s stock worth $105,000 after buying an additional 3,689 shares during the last quarter. Finally, Lebenthal Global Advisors LLC purchased a new position in shares of Magnite in the third quarter worth $141,000. Hedge funds and other institutional investors own 73.40% of the company’s stock.

Magnite, Inc, together with its subsidiaries, operates an independent omni-channel sell-side advertising platform in the United States and internationally. The company’s platform offers applications and services for sellers of digital advertising inventory or publishers that own and operate CTV channels, applications, websites, and other digital media properties to manage and monetize their inventory; and applications and services for buyers, including advertisers, agencies, agency trading desks, and demand side platforms to buy digital advertising inventory, as well as an independent marketplace that connects buyers and sellers.