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Magnite (MGNI) Stock Forecast, Price & News

$13.29
+0.31 (+2.39%)
(As of 06/2/2023 ET)
Compare
Today's Range
$12.67
$13.50
50-Day Range
$8.41
$12.98
52-Week Range
$5.59
$14.20
Volume
2.06 million shs
Average Volume
1.67 million shs
Market Capitalization
$1.80 billion
P/E Ratio
N/A
Dividend Yield
N/A
Price Target
$14.22

Magnite MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.88 Rating Score
Upside/​Downside
7.0% Upside
$14.22 Price Target
Short Interest
Bearish
7.69% of Float Sold Short
Dividend Strength
N/A
Sustainability
N/A
News Sentiment
0.73mentions of Magnite in the last 14 days
Based on 8 Articles This Week
Insider Trading
Selling Shares
$1.63 M Sold Last Quarter
Proj. Earnings Growth
86.96%
From $0.23 to $0.43 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

1.58 out of 5 stars

Computer And Technology Sector

518th out of 604 stocks

Computer Programming, Data Processing, & Other Computer Related Industry

48th out of 60 stocks


MGNI stock logo

About Magnite (NASDAQ:MGNI) Stock

Magnite, Inc. provides a technology solution to automate the purchase and sale of digital advertising inventory for buyers and sellers. It features applications and services for digital advertising sellers including websites, mobile applications, and other digital media properties. The company was founded by Frank Addante, Duc Chau, Craig Roah, Julie Mattern and Brian D. Baumgart on April 20, 2007 and is headquartered in New York, NY.

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MGNI Stock News Headlines

Sell Every Stock, Except ONE (Ticker Revealed)
We saw one of the longest bull markets in history, with the S&P surging well over 800% But now the chickens have come home to roost. However, Jeff Clark couldn’t care less because he ignores almost every single stock in the market.
Magnite (NASDAQ: MGNI)
Sell Every Stock, Except ONE (Ticker Revealed)
We saw one of the longest bull markets in history, with the S&P surging well over 800% But now the chickens have come home to roost. However, Jeff Clark couldn’t care less because he ignores almost every single stock in the market.
Magnite (NASDAQ:MGNI) Trading 5.7% Higher
Magnite, Inc. (NASDAQ:MGNI) COO Sells $81,056.00 in Stock
RBC Capital Keeps Their Buy Rating on Magnite (MGNI)
Magnite Q1 Earnings: Making A Comeback
Needham Keeps Their Buy Rating on Magnite (MGNI)
Truist Financial Remains a Buy on Magnite (MGNI)
Magnite (MGNI) Q1 2023 Earnings Call Transcript
See More Headlines

MGNI Price History

MGNI Company Calendar

Last Earnings
5/10/2023
Today
6/02/2023
Next Earnings (Estimated)
8/08/2023
Fiscal Year End
12/31/2023

Industry, Sector and Symbol

Industry
Computer programming, data processing, & other computer related
Sub-Industry
N/A
Current Symbol
NASDAQ:MGNI
Employees
876
Year Founded
N/A

Price Target and Rating

Average Stock Price Forecast
$14.22
High Stock Price Forecast
$16.00
Low Stock Price Forecast
$11.00
Forecasted Upside/Downside
+7.0%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.88
Research Coverage
8 Analysts

Profitability

Net Income
$-130,320,000.00
Pretax Margin
-31.92%

Debt

Sales & Book Value

Annual Sales
$577.07 million
Cash Flow
$2.20 per share
Book Value
$5.20 per share

Miscellaneous

Free Float
130,965,000
Market Cap
$1.80 billion
Optionable
Optionable
Beta
2.14

Key Executives

  • Michael G. BarrettMichael G. Barrett
    President, Chief Executive Officer & Director
  • Katie Evans
    Chief Operating Officer
  • David Lavelle Day
    Chief Financial Officer
  • David Buonasera
    Chief Technology Officer
  • Erik Michael Hovanec
    Chief Strategy Officer













MGNI Stock - Frequently Asked Questions

Should I buy or sell Magnite stock right now?

8 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Magnite in the last year. There are currently 1 hold rating and 7 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" MGNI shares.
View MGNI analyst ratings
or view top-rated stocks.

What is Magnite's stock price forecast for 2023?

8 Wall Street analysts have issued 12-month price targets for Magnite's stock. Their MGNI share price forecasts range from $11.00 to $16.00. On average, they anticipate the company's share price to reach $14.22 in the next twelve months. This suggests a possible upside of 7.0% from the stock's current price.
View analysts price targets for MGNI
or view top-rated stocks among Wall Street analysts.

How have MGNI shares performed in 2023?

Magnite's stock was trading at $10.59 at the start of the year. Since then, MGNI stock has increased by 25.5% and is now trading at $13.29.
View the best growth stocks for 2023 here
.

When is Magnite's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Tuesday, August 8th 2023.
View our MGNI earnings forecast
.

How were Magnite's earnings last quarter?

Magnite, Inc. (NASDAQ:MGNI) released its quarterly earnings results on Wednesday, May, 10th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.22. The company earned $130.15 million during the quarter, compared to analyst estimates of $110.90 million. Magnite had a positive trailing twelve-month return on equity of 3.29% and a negative net margin of 31.31%.

What guidance has Magnite issued on next quarter's earnings?

Magnite updated its second quarter 2023 earnings guidance on Friday, May, 12th. The company provided earnings per share (EPS) guidance of for the period. The company issued revenue guidance of $132.00 million-$136.00 million, compared to the consensus revenue estimate of $127.19 million.

What other stocks do shareholders of Magnite own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Magnite investors own include Trade Desk (TTD), Datadog (DDOG), DocuSign (DOCU), Tesla (TSLA), CrowdStrike (CRWD), Walt Disney (DIS), Fastly (FSLY), Fiverr International (FVRR), QUALCOMM (QCOM) and Roku (ROKU).

What is Magnite's stock symbol?

Magnite trades on the NASDAQ under the ticker symbol "MGNI."

Who are Magnite's major shareholders?

Magnite's stock is owned by a variety of institutional and retail investors. Top institutional shareholders include Granahan Investment Management LLC (6.76%), Dimensional Fund Advisors LP (3.13%), Frontier Capital Management Co. LLC (1.97%), Geode Capital Management LLC (1.82%), Victory Capital Management Inc. (1.28%) and Wellington Management Group LLP (1.19%). Insiders that own company stock include Aaron Saltz, Adam Lee Soroca, Brian Gephart, David Buonasera, David Day, Douglas S Knopper, Joseph R Prusz, Joseph R Prusz, Katie Seitz Evans, Lisa L Troe, Michael G Barrett, Michael G Barrett, Paul Caine, Rachel Lam, Sean Patrick Buckley, Shawna Hughes and Thomas Kershaw.
View institutional ownership trends
.

How do I buy shares of Magnite?

Shares of MGNI stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

What is Magnite's stock price today?

One share of MGNI stock can currently be purchased for approximately $13.29.

How much money does Magnite make?

Magnite (NASDAQ:MGNI) has a market capitalization of $1.80 billion and generates $577.07 million in revenue each year. The company earns $-130,320,000.00 in net income (profit) each year or ($1.37) on an earnings per share basis.

How many employees does Magnite have?

The company employs 876 workers across the globe.

How can I contact Magnite?

Magnite's mailing address is 12181 BLUFF CREEK DRIVE 4TH FLOOR, LOS ANGELES CA, 90094. The official website for the company is www.magnite.com. The company can be reached via phone at (212) 243-2769, via email at investor@rubiconproject.com, or via fax at 310-207-0528.

This page (NASDAQ:MGNI) was last updated on 6/2/2023 by MarketBeat.com Staff

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