Wells Fargo & Company Issues Positive Forecast for Magnite (NASDAQ:MGNI) Stock Price

Magnite (NASDAQ:MGNI) had its price objective upped by equities research analysts at Wells Fargo & Company from $22.00 to $23.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential downside of 17.09% from the stock’s current price.

A number of other analysts have also recently weighed in on the company. Benchmark boosted their price target on Magnite from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Royal Bank Of Canada boosted their price objective on shares of Magnite from $20.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. B. Riley Financial lifted their price objective on shares of Magnite from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 18th. Susquehanna raised their price objective on Magnite from $30.00 to $35.00 and gave the company a “positive” rating in a report on Thursday. Finally, Weiss Ratings upgraded shares of Magnite from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 23rd. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Magnite currently has a consensus rating of “Moderate Buy” and an average target price of $29.91.

Magnite Price Performance

Magnite stock traded up $4.95 during mid-day trading on Thursday, hitting $27.74. The company’s stock had a trading volume of 4,254,636 shares, compared to its average volume of 2,488,429. 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 stock has a market capitalization of $3.98 billion, a P/E ratio of 25.44, a P/E/G ratio of 0.73 and a beta of 2.44. The stock’s fifty day moving average price is $23.90 and its two-hundred day moving average price is $17.72. Magnite has a twelve month low of $10.82 and a twelve month high of $28.17.

Magnite (NASDAQ:MGNI) last announced its earnings results on Wednesday, November 4th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. Magnite had a return on equity of 9.33% and a net margin of 22.49%. The business had revenue of $204.20 million during the quarter, compared to the consensus estimate of $190.19 million. During the same period in the prior year, the business posted $0.20 earnings per share. Magnite’s revenue was up 22.4% compared to the same quarter last year. Research analysts forecast that Magnite will post 0.61 earnings per share for the current year.

Insider Activity at Magnite

In other Magnite news, Director Paul Caine sold 12,500 shares of the stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $25.29, for a total transaction of $316,125.00. Following the completion of the sale, the director directly owned 124,901 shares in the company, valued at approximately $3,158,746.29. This trade represents a 9.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Aaron Saltz sold 40,000 shares of Magnite stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $23.41, for a total value of $936,400.00. Following the completion of the sale, the insider owned 224,389 shares of the company’s stock, valued at approximately $5,252,946.49. The trade was a 15.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 254,126 shares of company stock valued at $6,161,335 over the last ninety days. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MGNI. Nykredit A S purchased a new position in Magnite in the 2nd quarter valued at approximately $25,000. Covestor Ltd raised its holdings in Magnite by 562.1% during the 3rd quarter. Covestor Ltd now owns 1,066 shares of the company’s stock valued at $26,000 after buying an additional 905 shares during the last quarter. EFG International AG bought a new position in Magnite during the 2nd quarter valued at approximately $28,000. Allworth Financial LP purchased a new stake in shares of Magnite in the 2nd quarter worth about $30,000. Finally, Signaturefd LLC raised its position in shares of Magnite by 35.8% in the 3rd quarter. Signaturefd LLC now owns 1,715 shares of the company’s stock worth $43,000 after acquiring an additional 452 shares in the last quarter. Institutional investors own 73.40% of the company’s stock.

Key Headlines Impacting Magnite

Here are the key news stories impacting Magnite this week:

• Positive Sentiment: Q3 contribution ex-TAC rose 20% year over year to $200.6 million, above the company’s guidance range. CTV contribution ex-TAC surged 39% to $105.4 million, while DV+ grew 5%; both exceeded guidance. Magnite Reports Third Quarter 2026 Results
• Positive Sentiment: Adjusted EBITDA increased 46% to $83.4 million, with a 42% margin, and non-GAAP EPS of $0.33 topped estimates. Revenue was $204.2 million, up 14% year over year and ahead of expectations. Magnite Beats Q3 Earnings and Revenue Estimates
• Positive Sentiment: Magnite raised its 2026 outlook: contribution ex-TAC growth is now expected near 17%, adjusted EBITDA growth near 30%, margin around 38.5%, and free-cash-flow growth above 60%. For 2027, it expects at least a 38.5% adjusted EBITDA margin and accelerating top-line growth excluding political advertising. Magnite Raises 2026 Outlook and Signals 2027 Margin
• Positive Sentiment: Q4 contribution ex-TAC guidance of $227 million to $233 million offers a further growth signal. Management also highlighted CTV momentum and political-ad demand on its earnings call. Magnite Q3 2026 Earnings Call Highlights

About Magnite

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.