NASDAQ:MGNI Magnite (MGNI) Stock Forecast, Price & News $7.36 +0.02 (+0.27%) (As of 09/22/2023 ET) Add Compare Share Share Today's Range$7.30▼$7.4550-Day Range$7.35▼$15.2852-Week Range$5.59▼$15.73Volume1.05 million shsAverage Volume1.14 million shsMarket Capitalization$1.01 billionP/E RatioN/ADividend YieldN/APrice Target$14.75 ProfileProfileAnalyst RatingsChartCompetitorsEarningsFinancialsInsider TradesInstitutional OwnershipHeadlinesOptions ChainSEC FilingsShort InterestSocial MediaProfileAnalyst RatingsChartCompetitorsEarningsFinancialsInsider TradesInstitutional OwnershipHeadlinesOptions ChainSEC FilingsShort InterestSocial Media Magnite MarketRank™ ForecastAnalyst RatingModerate Buy2.80 Rating ScoreUpside/Downside100.3% Upside$14.75 Price TargetShort InterestBearish6.19% of Float Sold ShortDividend StrengthN/ASustainabilityN/ANews Sentiment1.42Based on 4 Articles This WeekInsider TradingSelling Shares$1.63 M Sold Last QuarterProj. Earnings Growth123.08%From $0.13 to $0.29 Per ShareSee Full Details Hide Full Details Overall MarketRank™MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.2.78 out of 5 starsComputer And Technology Sector109th out of 593 stocksComputer Programming, Data Processing, & Other Computer Related Industry9th out of 59 stocks 4.4 Analyst's Opinion Consensus RatingMagnite has received a consensus rating of Moderate Buy. The company's average rating score is 2.80, and is based on 8 buy ratings, 2 hold ratings, and no sell ratings.Price Target Upside/DownsideAccording to analysts' consensus price target of $14.75, Magnite has a forecasted upside of 100.3% from its current price of $7.37.Amount of Analyst CoverageMagnite has been the subject of 8 research reports in the past 90 days, demonstrating strong analyst interest in this stock. Previous Next 2.0 Short Interest Percentage of Shares Shorted6.19% of the float of Magnite has been sold short.Short Interest Ratio / Days to CoverMagnite has a short interest ratio ("days to cover") of 4.3.Change versus previous monthShort interest in Magnite has recently decreased by 0.81%, indicating that investor sentiment is improving. Previous Next 0.0 Dividend Strength Dividend YieldMagnite does not currently pay a dividend.Dividend GrowthMagnite does not have a long track record of dividend growth. Previous Next N/A Sustainability and ESG Overall ESG (Environmental, Social, and Governance) ScoreThere is no current Upright™ data available for MGNI. Previous Next 3.6 News and Social Media Coverage News SentimentMagnite has a news sentiment score of 1.42. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.58 average news sentiment score of Computer and Technology companies.News Coverage This WeekMarketBeat has tracked 4 news articles for Magnite this week, compared to 3 articles on an average week.Search InterestOnly 4 people have searched for MGNI on MarketBeat in the last 30 days. This is a decrease of -76% compared to the previous 30 days.MarketBeat Follows9 people have added Magnite to their MarketBeat watchlist in the last 30 days. This is an increase of 29% compared to the previous 30 days. Previous Next 2.5 Company Ownership Insider Buying vs. Insider SellingIn the past three months, Magnite insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $1,625,936.00 in company stock.Percentage Held by InsidersOnly 4.30% of the stock of Magnite is held by insiders.Percentage Held by Institutions73.40% of the stock of Magnite is held by institutions. High institutional ownership can be a signal of strong market trust in this company. Previous Next 1.9 Earnings and Valuation Earnings GrowthEarnings for Magnite are expected to grow by 123.08% in the coming year, from $0.13 to $0.29 per share.Price to Earnings Ratio vs. the MarketThe P/E ratio of Magnite is -4.28, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.Price to Earnings Ratio vs. SectorThe P/E ratio of Magnite is -4.28, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.Price to Book Value per Share RatioMagnite has a P/B Ratio of 1.24. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities. Previous Next See Top Rated MarketRank™ Stocks Here About Magnite (NASDAQ:MGNI) StockMagnite, Inc. operates an independent 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 provides applications and services for buyers, including advertisers, agencies, agency trading desks, and demand side platforms to buy digital advertising inventory. It markets its technology solutions to buyers and sellers through a sales teams that operate from various locations. The company was formerly known as The Rubicon Project, Inc. and changed name to Magnite, Inc. in July 2020. Magnite, Inc. was incorporated in 2007 and is headquartered in New York, New York.Read More MGNI Price History View Price History Chart DataSkip Price History Chart 30 days | 90 days | 365 days | Advanced Chart MGNI Stock News HeadlinesSeptember 13, 2023 | finance.yahoo.comMagnite Announces Global Partnership with Scope3 to Improve Sustainability Across Omnichannel AdvertisingAugust 31, 2023 | finance.yahoo.comMagnite Inks Deal With Mediaocean to Boost Access to CTV For Local Linear BuyersSeptember 23, 2023 | Legacy Research (Ad)The Real Reason They Murdered JFK?Some people believe JFK was murdered because of his executive order 11110 that would have reduced the power of the Federal Reserve. Regardless if that’s true or not… The Fed is now involved in a new controversy that could have drastic consequences for the US dollar.August 30, 2023 | markets.businessinsider.comMagnite To Elevate Virgin Media's Ad-Supported Streaming ServicesAugust 30, 2023 | finance.yahoo.comMagnite and SpringServe Support FAST Ad Management for Virgin Media TV ServicesAugust 25, 2023 | markets.businessinsider.comAnalysts Offer Insights on NA Companies: Magnite (MGNI) and Carrols Restaurant Group (TAST)August 23, 2023 | seekingalpha.comMagnite: Competitive Positioning Is QuestionableAugust 16, 2023 | msn.comEvercore ISI Group Upgrades Magnite (MGNI)September 23, 2023 | Chaikin Analytics (Ad)Buy This Stock for AI Tidal Wave (not NVDA)The internet boom made more millionaires than any tech - Microsoft’s CEO says AI has even more potential. Here’s the #1 stock to buy.August 16, 2023 | msn.comAd-tech Magnite gains 3% on Evercore upgrade to OutperformAugust 15, 2023 | msn.comMagnite: The Crash Creates An OpportunityAugust 15, 2023 | msn.comTruist Securities Maintains Magnite (MGNI) Buy RecommendationAugust 14, 2023 | markets.businessinsider.comAnalyst Ratings for MagniteAugust 13, 2023 | finance.yahoo.comIs It Too Late to Buy Magnite Stock?August 11, 2023 | msn.comMagnite shares sink on CTV business growth concernsAugust 11, 2023 | msn.comSusquehanna Maintains Magnite (MGNI) Positive RecommendationAugust 11, 2023 | markets.businessinsider.comWhy Magnite Shares Are Tumbling TodayAugust 11, 2023 | markets.businessinsider.comMagnite Stock (NASDAQ:MGNI): A Magnet for TroubleAugust 11, 2023 | finance.yahoo.comWhy Magnite Stock Plunged TodayAugust 10, 2023 | seekingalpha.comMagnite Earnings: CTV Slowdown Sparks Concerns - Downgraded To A HoldAugust 9, 2023 | finance.yahoo.comMagnite (MGNI) Q2 2023 Earnings Call TranscriptAugust 9, 2023 | finance.yahoo.comMagnite Reports Second Quarter 2023 ResultsAugust 8, 2023 | markets.businessinsider.comCraig-Hallum Reaffirms Their Buy Rating on Magnite (MGNI)August 8, 2023 | finance.yahoo.comAttain Partners with Magnite to Introduce Real-Time Sales Measurement for Video AdvertisingAugust 3, 2023 | finance.yahoo.comMagnite Announces Integration into FreeWheel’s TV Platform, Allowing Publishers a More Aggregated View of Demand Across the Premium TV EcosystemAugust 3, 2023 | finance.yahoo.comMagnite Research Uncovers Ads on TV, Including Streaming Services, Generate a High Level of Trust and Recall in AustraliaAugust 3, 2023 | finance.yahoo.comMagnite Announces Integration into FreeWheel’s TV Platform, Allowing Publishers a More Aggregated View of Demand Across the Premium TV EcosystemSee More Headlines Receive MGNI Stock News and Ratings via Email Sign-up to receive the latest news and ratings for Magnite and its competitors with MarketBeat's FREE daily newsletter. Email Address MGNI Company Calendar Last Earnings8/09/2023Today9/22/2023Next Earnings (Estimated)11/08/2023Fiscal Year End12/31/2023Get Stock AlertsIndustry, Sector and Symbol Stock ExchangeNASDAQ Industry Computer programming, data processing, & other computer related Sub-IndustryN/A SectorComputer and Technology Current SymbolNASDAQ:MGNI CUSIPN/A CIK1595974 Webwww.magnite.com Phone(212) 243-2769Fax310-207-0528Employees947Year FoundedN/APrice Target and Rating Average Stock Price Forecast$14.75 High Stock Price Forecast$18.00 Low Stock Price Forecast$12.00 Forecasted Upside/Downside+100.3%Consensus RatingModerate Buy Rating Score (0-4)2.80 Research Coverage10 Analysts Profitability EPS (Most Recent Fiscal Year)($1.72) Trailing P/E RatioN/A Forward P/E Ratio56.65 P/E GrowthN/ANet Income$-130,320,000.00 Net Margins-38.65% Pretax Margin-39.11% Return on Equity2.07% Return on Assets0.61% Debt Debt-to-Equity Ratio0.97 Current Ratio1.14 Quick Ratio1.14 Sales & Book Value Annual Sales$577.07 million Price / Sales1.75 Cash Flow$1.90 per share Price / Cash Flow3.88 Book Value$5.93 per share Price / Book1.24Miscellaneous Outstanding Shares136,960,000Free Float131,070,000Market Cap$1.01 billion OptionableOptionable Beta2.19 20 Stocks to Sell NowMarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio? Find out by clicking the link below.Get This Free Report Key ExecutivesMr. Michael G. Barrett (Age 61)Pres, CEO & Director Comp: $1.17MMr. David L. Day (Age 62)Chief Financial Officer Comp: $886.26kMs. Katie Evans (Age 37)Chief Operating Officer Comp: $786.86kMr. Adam Lee Soroca (Age 50)Chief Product Officer Comp: $785.94kMr. Sean Patrick BuckleyChief Revenue OfficerMr. Brian Gephart (Age 43)Chief Accounting Officer Mr. David Buonasera (Age 37)Chief Technology Officer Mr. Nick KormelukVP of Investor Relations & Head of Global Real EstateMr. Aaron Saltz (Age 42)Chief Legal Officer Charlstie VeithGlobal Head of CommunicationsMore ExecutivesKey CompetitorsGrindrNYSE:GRNDModel NNYSE:MODNEventbriteNYSE:EBYalla GroupNYSE:YALANextdoorNYSE:KINDView All CompetitorsInsiders & InstitutionsDavid BuonaseraSold 5,444 sharesTotal: $46,709.52 ($8.58/share)Portside Wealth Group LLCBought 23,012 shares on 9/1/2023Ownership: 0.017%Wolverine Trading LLCSold 16,200 shares on 8/23/2023Ownership: 0.000%Robert F SpillaneSold 25,000 sharesTotal: $201,250.00 ($8.05/share)Robert F SpillaneSold 25,000 sharesTotal: $201,250.00 ($8.05/share)View All Insider TransactionsView All Institutional Transactions MGNI Stock - Frequently Asked Questions Should I buy or sell Magnite stock right now? 10 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Magnite in the last year. There are currently 2 hold ratings and 8 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" MGNI shares. View MGNI analyst ratings or view top-rated stocks. What is Magnite's stock price forecast for 2023? 10 brokers have issued twelve-month target prices for Magnite's stock. Their MGNI share price forecasts range from $12.00 to $18.00. On average, they anticipate the company's stock price to reach $14.75 in the next year. This suggests a possible upside of 100.3% 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 on January 1st, 2023. Since then, MGNI stock has decreased by 30.5% and is now trading at $7.3650. 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 Wednesday, November 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, August, 9th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.02 by $0.06. The business had revenue of $134.68 million for the quarter, compared to analysts' expectations of $134.56 million. Magnite had a negative net margin of 38.65% and a positive trailing twelve-month return on equity of 2.07%. What ETFs hold Magnite's stock? ETFs with the largest weight of Magnite (NASDAQ:MGNI) stock in their portfolio include Guinness Atkinson SmartETFs Marketing Technology ETF (MRAD), AOT Growth & Innovation ETF (AOTG), Nuveen Small Cap Select ETF (NSCS), Harbor Small Cap Explorer ETF (QWST), AdvisorShares Alpha DNA Equity Sentiment ETF (SENT), SPDR FactSet Innovative Technology ETF (XITK) and First Trust Small Cap Growth AlphaDEX Fund (FYC).Fidelity MSCI Communication Services Index ETF (FCOM). What guidance has Magnite issued on next quarter's earnings? Magnite updated its third quarter 2023 earnings guidance on Thursday, August, 10th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $128.00 million-$132.00 million, compared to the consensus revenue estimate of $138.30 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 retail and institutional investors. Top institutional investors include Granahan Investment Management LLC (5.51%), Dimensional Fund Advisors LP (3.64%), Parallax Volatility Advisers L.P. (0.00%), Kennedy Capital Management LLC (1.91%), Geode Capital Management LLC (1.89%) and Nuveen Asset Management LLC (1.77%). 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, Robert F Spillane, 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 $7.37. How much money does Magnite make? Magnite (NASDAQ:MGNI) has a market capitalization of $1.01 billion and generates $577.07 million in revenue each year. The company earns $-130,320,000.00 in net income (profit) each year or ($1.72) on an earnings per share basis. How many employees does Magnite have? The company employs 947 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 9/23/2023 by MarketBeat.com Staff Adding Choose a watchlist: Watchlist Adding You have already added five stocks to your watchlist. Upgrade to MarketBeat All Access to add more stocks to your watchlist. Adding Magnite, Inc. Please log in to your account or sign up in order to add this asset to your watchlist. 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