Magnite - MGNI Stock Forecast, Price & News

7 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Magnite in the last year. There are currently 7 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" MGNI shares.
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7 Wall Street analysts have issued twelve-month price objectives for Magnite's stock. Their MGNI share price forecasts range from $9.00 to $25.00. On average, they predict the company's stock price to reach $14.25 in the next year. This suggests a possible upside of 20.1% from the stock's current price.
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Magnite's stock was trading at $17.50 at the beginning of the year. Since then, MGNI shares have decreased by 32.2% and is now trading at $11.87.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, February 22nd 2023.
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Magnite, Inc. (NASDAQ:MGNI) announced its earnings results on Wednesday, November, 3rd. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.05. The firm had revenue of $131.87 million for the quarter, compared to the consensus estimate of $114 million. Magnite had a positive trailing twelve-month return on equity of 5.15% and a negative net margin of 16.61%. During the same quarter in the previous year, the firm earned ($0.01) earnings per share.

Magnite issued an update on its fourth quarter 2022 earnings guidance on Wednesday, November, 9th. The company provided EPS guidance of for the period. The company issued revenue guidance of $151.00 million-$157.00 million, compared to the consensus revenue estimate of $152.67 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 number of institutional and retail investors. Top institutional shareholders include Nuveen Asset Management LLC (12.84%), Vanguard Group Inc. (9.06%), Edenbrook Capital LLC (4.36%), Parallax Volatility Advisers L.P. (0.00%), Parallax Volatility Advisers L.P. (0.00%) and Dimensional Fund Advisors LP (1.05%). Insiders that own company stock include Aaron Saltz, Adam Lee Soroca, 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, 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 $11.87.

Magnite (NASDAQ:MGNI) has a market capitalization of $1.58 billion and generates $468.41 million in revenue each year. The company earns $70,000.00 in net income (profit) each year or ($0.71) on an earnings per share basis.

The company employs 876 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 (310) 207-0272, via email at investor@rubiconproject.com, or via fax at 310-207-0528.