Magnite Stock Forecast, Price & News

9 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 7 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" Magnite stock.
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Wall Street analysts have given Magnite a "Buy" rating, but there may be better buying opportunities in the stock market. Some of MarketBeat's past winning trading ideas have resulted in 5-15% weekly gains. MarketBeat just released five new stock ideas, but Magnite wasn't one of them. MarketBeat thinks these five companies may be even better buys.
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Magnite is scheduled to release its next quarterly earnings announcement on Monday, August 9th 2021.
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Magnite, Inc. (NASDAQ:MGNI) released its quarterly earnings results on Monday, May, 10th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of ($0.05) by $0.08. The business earned $60.70 million during the quarter, compared to analyst estimates of $60.22 million. Magnite had a negative net margin of 23.02% and a negative trailing twelve-month return on equity of 1.56%. Magnite's quarterly revenue was up 67.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.06 earnings per share.
View Magnite's earnings history.

Magnite updated its second quarter 2021 earnings guidance on Tuesday, June, 8th. The company provided EPS guidance of $- for the period. The company issued revenue guidance of $92 million-96 million, compared to the consensus revenue estimate of $63.52 million.

9 brokerages have issued 1 year price targets for Magnite's shares. Their forecasts range from $13.00 to $70.00. On average, they anticipate Magnite's share price to reach $41.00 in the next year. This suggests a possible upside of 39.0% from the stock's current price.
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Some companies that are related to Magnite include GDS (GDS), FactSet Research Systems (FDS), Weibo (WB), Dada Nexus (DADA), DoubleVerify (DV), TripAdvisor (TRIP), Chindata Group (CD), Switch (SWCH), Medallia (MDLA), DigitalOcean (DOCN), OneConnect Financial Technology (OCFT), Sabre (SABR), Rackspace Technology (RXT), HUYA (HUYA) and Cardlytics (CDLX).
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Based on aggregate information from My MarketBeat watchlists, some companies that other Magnite investors own include The Trade Desk (TTD), Datadog (DDOG), DocuSign (DOCU), Tesla (TSLA), CrowdStrike (CRWD), The 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 institutional and retail investors. Top institutional investors include BlackRock Inc. (7.51%), Nuveen Asset Management LLC (5.49%), Allianz Asset Management GmbH (6.04%), Renaissance Technologies LLC (1.75%), Geode Capital Management LLC (1.65%) and Northern Trust Corp (1.10%). Company insiders that own Magnite stock include Aaron Saltz, Adam Lee Soroca, David Day, Joseph R Prusz, Katie Seitz Evans, Lisa L Troe, Michael G Barrett, Paul Caine, Rachel Lam, Shawna Hughes and Thomas Kershaw.
View institutional ownership trends for Magnite.

MGNI stock was sold by a variety of institutional investors in the last quarter, including Nine Ten Capital Management LLC, Royce & Associates LP, Russell Investments Group Ltd., Millennium Management LLC, Ashford Capital Management Inc., Credit Suisse AG, Cannell Capital LLC, and UBS Asset Management Americas Inc.. Company insiders that have sold Magnite company stock in the last year include Aaron Saltz, Adam Lee Soroca, David Day, Joseph R Prusz, Katie Seitz Evans, Lisa L Troe, Michael G Barrett, Paul Caine, Rachel Lam, Shawna Hughes, and Thomas Kershaw.
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MGNI stock was bought by a variety of institutional investors in the last quarter, including Nuveen Asset Management LLC, Allianz Asset Management GmbH, Renaissance Technologies LLC, BlackRock Inc., Lisanti Capital Growth LLC, Pier Capital LLC, Castleark Management LLC, and JPMorgan Chase & Co..
View insider buying and selling activity for Magnite or or view top insider-buying stocks.

Shares of MGNI 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 $29.49.

Magnite has a market capitalization of $3.80 billion and generates $221.63 million in revenue each year. The company earns $-53,430,000.00 in net income (profit) each year or ($0.10) on an earnings per share basis.

Magnite employs 569 workers across the globe.

The official website for Magnite is www.magnite.com.

Magnite is headquartered at 12181 BLUFF CREEK DRIVE 4TH FLOOR, LOS ANGELES CA, 90094.

Magnite's mailing address is 12181 BLUFF CREEK DRIVE 4TH FLOOR, LOS ANGELES CA, 90094. The company can be reached via phone at (310) 207-0272 or via email at [email protected]