Magnite (MGNI) Expected to Announce Earnings on Wednesday

Magnite (NASDAQ:MGNI - Get Free Report) is expected to be posting its Q2 2025 quarterly earnings results after the market closes on Wednesday, August 6th. Analysts expect Magnite to post earnings of $0.17 per share and revenue of $157.05 million for the quarter. Magnite has set its Q2 2025 guidance at EPS.

Magnite (NASDAQ:MGNI - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.06. The firm had revenue of $145.85 million for the quarter, compared to analysts' expectations of $142.18 million. Magnite had a net margin of 4.58% and a return on equity of 6.71%. The company's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.05 earnings per share. On average, analysts expect Magnite to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Magnite Trading Down 3.6%

Shares of MGNI traded down $0.82 during trading hours on Friday, reaching $22.19. 2,310,209 shares of the company traded hands, compared to its average volume of 2,674,457. The company's fifty day moving average price is $20.61 and its two-hundred day moving average price is $16.54. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of 110.96, a price-to-earnings-growth ratio of 1.86 and a beta of 2.96. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. Magnite has a 12 month low of $8.22 and a 12 month high of $25.27.

Insider Activity

In other news, CEO Michael G. Barrett sold 70,900 shares of the firm's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $23.27, for a total transaction of $1,649,843.00. Following the sale, the chief executive officer directly owned 285,808 shares in the company, valued at $6,650,752.16. This trade represents a 19.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Adam Lee Soroca sold 42,584 shares of the firm's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $25.00, for a total transaction of $1,064,600.00. Following the sale, the insider owned 366,672 shares in the company, valued at $9,166,800. The trade was a 10.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 959,227 shares of company stock worth $18,854,021. 3.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Magnite

Several institutional investors have recently bought and sold shares of the stock. Intech Investment Management LLC grew its stake in Magnite by 103.6% during the first quarter. Intech Investment Management LLC now owns 109,992 shares of the company's stock valued at $1,255,000 after acquiring an additional 55,971 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Magnite by 9.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 404,717 shares of the company's stock worth $4,618,000 after buying an additional 36,097 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Magnite by 24.3% in the 1st quarter. Jones Financial Companies Lllp now owns 7,276 shares of the company's stock worth $83,000 after buying an additional 1,423 shares in the last quarter. Millennium Management LLC grew its stake in shares of Magnite by 113.7% in the 1st quarter. Millennium Management LLC now owns 434,479 shares of the company's stock worth $4,957,000 after buying an additional 231,213 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Magnite by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,847 shares of the company's stock worth $854,000 after buying an additional 3,267 shares in the last quarter. 73.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Magnite from a "hold" rating to a "buy" rating in a research note on Sunday, July 13th. Wells Fargo & Company lifted their target price on shares of Magnite from $13.00 to $24.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Rosenblatt Securities reissued a "buy" rating and set a $18.00 price objective on shares of Magnite in a research note on Thursday, May 8th. Needham & Company LLC boosted their price objective on shares of Magnite from $14.00 to $18.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Finally, Benchmark lifted their target price on shares of Magnite from $24.00 to $30.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Magnite has an average rating of "Moderate Buy" and an average target price of $21.91.

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.