Magnite (MGNI) Stock Forecast, Price & News

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.
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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.
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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.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, November 8th 2023.
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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%.

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).

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.

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).

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

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.
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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.
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One share of MGNI stock can currently be purchased for approximately $7.37.

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.

The company employs 947 workers across the globe.

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.