Magnite (NASDAQ:MGNI) Price Target Raised to $17.00 at Scotiabank

Key Points

• Scotiabank raised its price target to $17 and assigned a "sector outperform" rating on Magnite, implying roughly a 24% upside from the prior close.
• Analyst consensus remains bullish with a "Moderate Buy" rating and a consensus target of $23.60, based on nine Buy and two Hold ratings from recent coverage.
• Recent Q1 results showed improving fundamentals — non‑GAAP EPS beat, Contribution ex‑TAC strength led by CTV growth of ~30% year‑over‑year, and management reaffirmed guidance while raising its Adjusted EBITDA margin target.

Magnite (NASDAQ:MGNI - Get Free Report) had its price objective hoisted by research analysts at Scotiabank from $16.00 to $17.00 in a report issued on Thursday,Benzinga reports. The firm presently has a "sector outperform" rating on the stock. Scotiabank's price target indicates a potential upside of 24.22% from the company's previous close.

Several other research firms have also recently issued reports on MGNI. Weiss Ratings reiterated a "hold (c)" rating on shares of Magnite in a report on Thursday, January 22nd. Evercore reaffirmed an "outperform" rating and issued a $21.00 price target on shares of Magnite in a research note on Thursday. Royal Bank Of Canada dropped their price target on Magnite from $23.00 to $20.00 and set an "outperform" rating for the company in a research report on Thursday. Needham & Company LLC reissued a "buy" rating and issued a $25.00 price objective on shares of Magnite in a research note on Thursday, April 16th. Finally, Benchmark decreased their price objective on Magnite from $31.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, February 26th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.60.

Magnite Price Performance

Shares of Magnite stock traded up $0.30 on Thursday, reaching $13.69. The company's stock had a trading volume of 3,755,948 shares, compared to its average volume of 2,284,632. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $1.96 billion, a P/E ratio of 14.59, a PEG ratio of 0.84 and a beta of 2.33. The stock has a 50-day moving average price of $12.70 and a 200-day moving average price of $14.31. Magnite has a 52-week low of $10.82 and a 52-week high of $26.65.

Magnite (NASDAQ:MGNI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.01). Magnite had a return on equity of 8.44% and a net margin of 20.25%.The company had revenue of $205.36 million for the quarter, compared to analyst estimates of $193.87 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. The business's revenue was up 5.9% on a year-over-year basis. Analysts expect that Magnite will post 0.59 EPS for the current year.

Insiders Place Their Bets

In other news, insider Adam Lee Soroca sold 21,529 shares of the company's stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $12.00, for a total value of $258,348.00. Following the completion of the sale, the insider directly owned 388,425 shares in the company, valued at $4,661,100. This represents a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Magnite

Several large investors have recently modified their holdings of the business. Neo Ivy Capital Management acquired a new position in Magnite in the third quarter valued at about $27,000. US Bancorp DE raised its stake in shares of Magnite by 75.8% in the 3rd quarter. US Bancorp DE now owns 1,596 shares of the company's stock valued at $35,000 after acquiring an additional 688 shares during the period. State of Wyoming purchased a new stake in shares of Magnite in the 3rd quarter valued at approximately $39,000. Strategic Advocates LLC purchased a new position in shares of Magnite during the 3rd quarter worth approximately $42,000. Finally, PNC Financial Services Group Inc. increased its holdings in Magnite by 45.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,428 shares of the company's stock valued at $53,000 after purchasing an additional 755 shares during the last quarter. Institutional investors and hedge funds own 73.40% of the company's stock.

More Magnite News

Here are the key news stories impacting Magnite this week:

• Positive Sentiment: Q1 EPS beat and solid profitability — Magnite reported non‑GAAP EPS of $0.13, above the consensus range cited by many outlets (~$0.11). Adjusted EBITDA rose 16% year‑over‑year to $42.9M with a 27% margin, and operating cash flow was $23.3M. Q1 Results Press Release
• Positive Sentiment: Strong CTV momentum — Contribution ex‑TAC from CTV grew 30% y/y to $82.3M and now represents over half of Contribution ex‑TAC, signaling durable demand in the higher‑growth CTV segment. Q1 Results Press Release
• Neutral Sentiment: Revenue and contribution metrics — Company revenue was $164.4M (up ~6% y/y) and Contribution ex‑TAC was at the high end of guidance ($160.9M). Some outlets present slightly different consensus comparisons, creating mixed headlines. Press Release / Slide Deck
• Neutral Sentiment: Q2 and FY posture — Management guided Q2 Contribution ex‑TAC to $177–181M (CTV $90–92M; DV+ $87–89M) and reaffirmed FY growth targets with a raised Adjusted EBITDA margin target (≥35.5%) and stronger free cash flow growth. Guidance is largely in line with consensus, so it’s more confirmatory than a catalyst. Guidance Details
• Negative Sentiment: Mixed press and segment slippage — Some coverage framed Q1 sales as missing certain expectations (different analyst models), and Contribution ex‑TAC from DV+ declined ~5% y/y despite beating its guidance range — a sign DV+ softness that could worry some investors. Yahoo: Sales Miss Headline

Magnite Company Profile

Magnite, Inc NASDAQ: MGNI operates as an independent sell-side advertising platform that enables publishers and digital media owners to monetize their inventory through programmatic advertising. Formed in 2020 through the merger of Rubicon Project and Telaria, Magnite combines technologies for desktop, mobile, connected television (CTV) and digital out-of-home (DOOH) ad exchanges. The company provides an end-to-end solution designed to help media owners optimize yield across open marketplaces, private marketplaces and programmatic guaranteed deals.

At the core of Magnite's offering is its supply-side platform (SSP), which connects publishers' ad impressions to demand-side platforms (DSPs) through real-time bidding (RTB).

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