Magnite (NASDAQ:MGNI) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Magnite (NASDAQ:MGNI) had its target price increased by research analysts at Royal Bank Of Canada from $27.00 to $30.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada‘s price target would suggest a potential upside of 8.11% from the company’s current price.

Several other research firms have also recently weighed in on MGNI. Scotiabank restated a “sector outperform” rating on shares of Magnite in a research report on Thursday. Benchmark increased their target price on Magnite from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. B. Riley Financial raised their price target on Magnite from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 18th. BTIG Research reaffirmed a “buy” rating and set a $27.00 price target on shares of Magnite in a research note on Wednesday, September 9th. Finally, Needham & Company LLC upped their price objective on Magnite from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, September 3rd. Eleven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $30.18.

Magnite Price Performance

NASDAQ:MGNI traded up $4.96 during trading hours on Thursday, hitting $27.75. 6,298,212 shares of the company’s stock traded hands, compared to its average volume of 2,498,019. Magnite has a 52 week low of $10.82 and a 52 week high of $28.17. The business’s fifty day simple moving average is $23.90 and its two-hundred day simple moving average is $17.72. The company has a quick ratio of 1.03, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The firm has a market cap of $3.98 billion, a P/E ratio of 25.46, a P/E/G ratio of 0.73 and a beta of 2.44.

Magnite (NASDAQ:MGNI) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The firm had revenue of $204.20 million during the quarter, compared to the consensus estimate of $190.19 million. Magnite had a return on equity of 9.33% and a net margin of 22.49%. The company’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter last year, the company posted $0.20 EPS. On average, research analysts anticipate that Magnite will post 0.61 earnings per share for the current fiscal year.

Insider Transactions at Magnite

In other Magnite news, Director Robert Spillane sold 10,363 shares of the business’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $23.76, for a total value of $246,224.88. Following the completion of the sale, the director directly owned 57,715 shares of the company’s stock, valued at $1,371,308.40. The trade was a 15.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Douglas Knopper sold 37,337 shares of the company’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $26.28, for a total transaction of $981,216.36. Following the sale, the director owned 51,136 shares of the company’s stock, valued at approximately $1,343,854.08. The trade was a 42.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 254,126 shares of company stock worth $6,161,335. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Magnite

A number of hedge funds and other institutional investors have recently modified their holdings of MGNI. Signaturefd LLC boosted its holdings in Magnite by 35.8% during the 3rd quarter. Signaturefd LLC now owns 1,715 shares of the company’s stock valued at $43,000 after acquiring an additional 452 shares during the period. Allworth Financial LP grew its position in Magnite by 63.7% during the 2nd quarter. Allworth Financial LP now owns 1,567 shares of the company’s stock worth $30,000 after acquiring an additional 610 shares during the last quarter. GAMMA Investing LLC increased its stake in Magnite by 32.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,916 shares of the company’s stock worth $74,000 after purchasing an additional 708 shares during the period. Pinnacle Associates Ltd. increased its stake in Magnite by 1.2% in the 3rd quarter. Pinnacle Associates Ltd. now owns 68,742 shares of the company’s stock worth $1,736,000 after purchasing an additional 825 shares during the period. Finally, Covestor Ltd lifted its position in Magnite by 562.1% in the third quarter. Covestor Ltd now owns 1,066 shares of the company’s stock valued at $26,000 after purchasing an additional 905 shares during the last quarter. Institutional investors own 73.40% of the company’s stock.

Magnite News Roundup

Here are the key news stories impacting Magnite this week:

• Positive Sentiment: Q3 results topped expectations. Revenue increased 14% year over year to $204.2 million, while non-GAAP EPS was $0.33 versus the $0.29 consensus. Contribution ex-TAC grew 20% to $200.6 million, and adjusted EBITDA rose 46% to $83.4 million. Magnite Q3 2026 results
• Positive Sentiment: Connected TV was a key growth driver. CTV contribution ex-TAC climbed 39% to $105.4 million, exceeding company guidance; digital video and display contribution ex-TAC also grew, by 5%. Magnite: 3 key takeaways
• Positive Sentiment: Management raised 2026 guidance and offered a strong 2027 outlook. Magnite now expects 2026 contribution ex-TAC growth of about 17% and adjusted EBITDA growth of about 30%. For 2027, it forecast more than 15% top-line growth excluding political advertising and an adjusted EBITDA margin of at least 38.5%. Q4 contribution ex-TAC is forecast at $227 million to $233 million. Magnite raises outlook
• Positive Sentiment: RBC increased its price target to $30 from $27 and maintained an Outperform rating, reinforcing the positive analyst response to the results. RBC raises Magnite price target
• Negative Sentiment: Wells Fargo remained cautious. It raised its target to $23 from $22 but kept an Equal Weight rating; the target was below the stock’s then-current trading level. Wells Fargo rating update

Magnite Company Profile

Magnite, Inc operates an independent omnichannel sell-side advertising platform that helps publishers and digital media owners monetize their content while enabling advertisers to reach audiences across multiple channels. Its platform supports the buying and selling of digital advertising inventory through automated auctions and direct transactions.

The company’s solutions serve connected television and streaming video, online display and mobile advertising, audio, and digital out-of-home media.