Wells Fargo & Company Raises Magnite (NASDAQ:MGNI) Price Target to $22.00

Key Points

• Wells Fargo raised Magnite’s price target from $21 to $22 while maintaining an “equal weight” rating, implying roughly 12% downside from the stock’s $25.04 trading price.
• Analyst sentiment is more positive overall: Magnite has a “Moderate Buy” consensus rating and an average price target of $28.30, with several firms recently raising targets to $27 or higher.
• Recent operating results exceeded expectations: quarterly revenue rose 11% year over year to $192.8 million and EPS beat estimates, while strong connected-TV growth helped management raise its full-year outlook.

Magnite (NASDAQ:MGNI - Get Free Report) had its price target lifted by investment analysts at Wells Fargo & Company from $21.00 to $22.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's target price would suggest a potential downside of 12.14% from the company's current price.

MGNI has been the topic of a number of other reports. B. Riley Financial increased their price objective on shares of Magnite from $20.00 to $27.00 and gave the company a "buy" rating in a research note on Thursday. BTIG Research lifted their target price on shares of Magnite from $20.00 to $27.00 and gave the stock a "buy" rating in a research report on Thursday. Royal Bank Of Canada upped their price target on shares of Magnite from $20.00 to $27.00 and gave the company an "outperform" rating in a report on Thursday. Benchmark increased their price target on shares of Magnite from $30.00 to $33.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Needham & Company LLC reissued a "buy" rating and set a $25.00 price objective on shares of Magnite in a research note on Thursday, April 16th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Magnite currently has an average rating of "Moderate Buy" and an average price target of $28.30.

Magnite Price Performance

MGNI traded up $0.72 during trading on Friday, reaching $25.04. 1,161,567 shares of the stock were exchanged, compared to its average volume of 2,565,408. The business's 50 day moving average price is $18.48 and its two-hundred day moving average price is $14.87. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 23.02, a P/E/G ratio of 1.05 and a beta of 2.26. Magnite has a 1 year low of $10.82 and a 1 year high of $26.65.

Magnite (NASDAQ:MGNI - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.02. The company had revenue of $192.82 million for the quarter, compared to analyst estimates of $179.15 million. Magnite had a return on equity of 9.47% and a net margin of 22.49%.Magnite's revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.20 earnings per share. As a group, equities research analysts anticipate that Magnite will post 0.55 earnings per share for the current year.

Insider Transactions at Magnite

In other Magnite news, Director Paul Caine sold 5,000 shares of the stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $20.64, for a total transaction of $103,200.00. Following the transaction, the director owned 162,401 shares of the company's stock, valued at $3,351,956.64. This trade represents a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sean Patrick Buckley sold 19,233 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $21.03, for a total value of $404,469.99. Following the completion of the transaction, the insider directly owned 354,281 shares in the company, valued at $7,450,529.43. This trade represents a 5.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 491,639 shares of company stock valued at $8,676,734 in the last quarter. Insiders own 3.20% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Capital Research Global Investors increased its stake in Magnite by 85.0% during the 4th quarter. Capital Research Global Investors now owns 12,920,289 shares of the company's stock worth $209,696,000 after buying an additional 5,937,428 shares during the period. Wellington Management Group LLP raised its stake in shares of Magnite by 67.7% in the 4th quarter. Wellington Management Group LLP now owns 8,629,238 shares of the company's stock valued at $140,053,000 after purchasing an additional 3,484,689 shares in the last quarter. Ophir Asset Management Pty Ltd bought a new position in shares of Magnite during the fourth quarter worth about $38,695,000. 325 Capital LLC lifted its position in shares of Magnite by 208.5% during the fourth quarter. 325 Capital LLC now owns 2,005,387 shares of the company's stock worth $32,547,000 after purchasing an additional 1,355,326 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Magnite in the second quarter worth about $22,059,000. 73.40% of the stock is owned by hedge funds and other institutional investors.

Magnite News Summary

Here are the key news stories impacting Magnite this week:

• Positive Sentiment: Q2 results exceeded expectations: Magnite reported $192.8 million in revenue, up 11% year over year, while non-GAAP EPS of $0.26 surpassed the $0.24 consensus estimate. Contribution ex-TAC rose 17% to $189.6 million, and adjusted EBITDA increased 30% to $70.6 million, producing a 37% margin. Magnite Reports Second Quarter 2026 Results
• Positive Sentiment: CTV remains the primary growth engine: CTV contribution ex-TAC climbed 36% year over year to $97.1 million, exceeding company guidance. Magnite also reported a return to growth in its DV+ business, suggesting broader momentum across its advertising platforms. Magnite Results Put CTV Growth In Focus
• Positive Sentiment: Management raised its full-year outlook: Magnite now expects contribution ex-TAC growth of 13%–14%, adjusted EBITDA growth above 20%, an adjusted EBITDA margin of at least 37% and free-cash-flow growth in the high-40% range. Third-quarter contribution ex-TAC guidance of $188 million–$192 million is also above the $185.2 million analyst consensus for revenue cited in reports. Magnite Raises Full-Year 2026 Outlook
• Positive Sentiment: Analysts lifted price targets: Rosenblatt raised its target to $40 and maintained a buy rating, Susquehanna raised its target to $30 with a positive rating, and B. Riley increased its target to $27 with a buy rating. These revisions reflect confidence in Magnite’s earnings and CTV trajectory. Magnite Analysts Boost Their Forecasts
• Neutral Sentiment: Industry backdrop is mixed: Trade Desk’s sharp earnings-related decline pressured parts of the ad-tech sector, but investors have so far treated Magnite as a relative winner because of its results and outlook. Continued execution and sustained advertiser spending remain important risks. Trade Desk Decline and Ad-Tech Peers

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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