Magnite (NASDAQ:MGNI) Given New $20.00 Price Target at Wells Fargo & Company

Magnite (NASDAQ:MGNI) had its target price decreased by Wells Fargo & Company from $22.00 to $20.00 in a research report sent to investors on Friday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other analysts have also recently weighed in on the company. Rosenblatt Securities restated a “buy” rating and set a $39.00 price target on shares of Magnite in a report on Thursday. Benchmark lifted their target price on shares of Magnite from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Royal Bank Of Canada upped their price target on shares of Magnite from $19.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Susquehanna raised their price target on shares of Magnite from $22.00 to $28.00 and gave the company a “positive” rating in a research note on Thursday, August 7th. Finally, Scotiabank reissued an “outperform” rating and issued a $30.00 price objective (up previously from $22.00) on shares of Magnite in a research note on Thursday, August 7th. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.20.

Magnite Price Performance

Shares of NASDAQ:MGNI traded up $0.24 during trading on Friday, hitting $15.10. 4,562,689 shares of the company were exchanged, compared to its average volume of 2,832,885. The business’s 50 day moving average is $20.85 and its 200-day moving average is $20.02. The company has a market capitalization of $2.15 billion, a P/E ratio of 52.07, a price-to-earnings-growth ratio of 1.42 and a beta of 3.13. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.45. Magnite has a 1-year low of $8.22 and a 1-year high of $26.65.

Magnite (NASDAQ:MGNI) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.20 earnings per share for the quarter, meeting the consensus estimate of $0.20. The company had revenue of $179.49 million for the quarter, compared to the consensus estimate of $163.29 million. Magnite had a return on equity of 8.07% and a net margin of 6.30%.Magnite’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the business posted $0.17 EPS. Magnite has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. Equities analysts forecast that Magnite will post 0.33 earnings per share for the current year.

Insider Activity at Magnite

In related news, Director Paul Caine sold 5,000 shares of Magnite stock in a transaction on Friday, October 24th. The shares were sold at an average price of $20.00, for a total transaction of $100,000.00. Following the completion of the transaction, the director owned 153,603 shares of the company’s stock, valued at $3,072,060. This trade represents a 3.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Aaron Saltz sold 8,522 shares of the business’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $24.50, for a total transaction of $208,789.00. Following the completion of the transaction, the insider owned 215,079 shares in the company, valued at approximately $5,269,435.50. The trade was a 3.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 328,275 shares of company stock valued at $7,977,776 over the last 90 days. 3.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Magnite

Several large investors have recently added to or reduced their stakes in MGNI. MCF Advisors LLC lifted its stake in Magnite by 2,100.0% in the first quarter. MCF Advisors LLC now owns 2,200 shares of the company’s stock valued at $25,000 after buying an additional 2,100 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Magnite by 74.9% in the 1st quarter. Smartleaf Asset Management LLC now owns 2,810 shares of the company’s stock valued at $33,000 after acquiring an additional 1,203 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Magnite by 355.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,517 shares of the company’s stock valued at $37,000 after acquiring an additional 1,184 shares during the period. State of Wyoming bought a new position in Magnite during the third quarter worth $39,000. Finally, USA Financial Formulas bought a new position in Magnite during the third quarter worth $40,000. Institutional investors and hedge funds own 73.40% of the company’s stock.

About Magnite

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.