Should I buy or sell Magnite stock right now?

10 Wall Street 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 analysts is that investors should "moderate buy" MGNI shares. View MGNI analyst ratings or view top-rated stocks .

What is Magnite's stock price target for 2024?

10 Wall Street analysts have issued 12-month price objectives for Magnite's shares. Their MGNI share price targets range from $11.00 to $16.00. On average, they anticipate the company's share price to reach $13.88 in the next year. This suggests a possible upside of 62.5% 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 beginning of the year. Since then, MGNI shares have decreased by 19.4% and is now trading at $8.54. 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, February 28th 2024. View our MGNI earnings forecast .

How were Magnite's earnings last quarter?

Magnite, Inc. (NASDAQ:MGNI) issued its quarterly earnings data on Wednesday, November, 8th. The company reported $0.02 earnings per share for the quarter. The firm had revenue of $133.14 million for the quarter, compared to the consensus estimate of $130.30 million. Magnite had a negative net margin of 37.24% and a positive trailing twelve-month return on equity of 1.36%.

What ETFs hold Magnite's stock?

ETFs with the largest weight of Magnite (NASDAQ:MGNI) stock in their portfolio include SmartETFs Advertising & 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 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) .

Who are Magnite's major shareholders?

Magnite's stock is owned by a number of institutional and retail investors. Top institutional investors include Rubric Capital Management LP (2.90%), Wellington Management Group LLP (2.09%), Kennedy Capital Management LLC (1.95%), Burgundy Asset Management Ltd. (1.72%), Victory Capital Management Inc. (1.49%) and Northern Trust Corp (0.98%). 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 .

Positive News SentimentPositive News

Magnite Stock Price, News & Analysis (NASDAQ:MGNI)

$8.54

+0.15 (+1.79%)

(As of 02:55 PM ET)

Compare

Today's Range: $8.35
▼
$8.62
50-Day Range: $6.51
▼
$8.39
52-Week Range: $6.28
▼
$15.73

Volume: 552,094 shs
Average Volume: 1.53 million shs
Market Capitalization: $1.18 billion

P/E Ratio: N/A
Dividend Yield: N/A
Price Target: $13.88

Magnite MarketRank™ Stock Analysis

Analyst Rating: Moderate Buy
2.80 Rating Score
Upside/Downside: 62.5% Upside
$13.88 Price Target
Short Interest: Bearish
6.35% of Float Sold Short
Dividend Strength: N/A
Sustainability: N/A
News Sentiment: 1.54
Based on 3 Articles This Week
Insider Trading: Selling Shares
$46,710 Sold Last Quarter
Proj. Earnings Growth: Growing
From ($1.25) to $0.13 Per Share

Overall MarketRank^™

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

2.06 out of 5 stars

Computer And Technology Sector

330th out of 589 stocks

Computer Programming, Data Processing, & Other Computer Related Industry

30th out of 56 stocks

3.4

Analyst's Opinion

Consensus Rating
Magnite 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/Downside
According to analysts' consensus price target of $13.88, Magnite has a forecasted upside of 62.5% from its current price of $8.54.
Amount of Analyst Coverage
Magnite has only been the subject of 2 research reports in the past 90 days.

1.0

Short Interest

Percentage of Shares Shorted
6.35% of the float of Magnite has been sold short.
Short Interest Ratio / Days to Cover
Magnite has a short interest ratio ("days to cover") of 6.7.
Change versus previous month
Short interest in Magnite has recently increased by 2.41%, indicating that investor sentiment is decreasing.

0.0

Dividend Strength

Dividend Yield
Magnite does not currently pay a dividend.
Dividend Growth
Magnite does not have a long track record of dividend growth.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for MGNI.

3.6

News and Social Media Coverage

News Sentiment
Magnite has a news sentiment score of 1.54. 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 0.59 average news sentiment score of Computer and Technology companies.
News Coverage This Week
MarketBeat has tracked 3 news articles for Magnite this week, compared to 3 articles on an average week.
Search Interest
4 people have searched for MGNI on MarketBeat in the last 30 days. This is an increase of 100% compared to the previous 30 days.
MarketBeat Follows
4 people have added Magnite to their MarketBeat watchlist in the last 30 days. This is an increase of 100% compared to the previous 30 days.

2.5

Company Ownership

Insider Buying vs. Insider Selling
In 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 $46,710.00 in company stock.
Percentage Held by Insiders
Only 4.30% of the stock of Magnite is held by insiders.
Percentage Held by Institutions
73.40% of the stock of Magnite is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

0.6

Earnings and Valuation

Earnings Growth
Earnings for Magnite are expected to grow in the coming year, from ($1.25) to $0.13 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Magnite is -5.11, 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. Sector
The P/E ratio of Magnite is -5.11, 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 Ratio
Magnite has a P/B Ratio of 1.44. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Magnite Stock (NASDAQ:MGNI)

Magnite, 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.

MGNI Stock Price History

30 days | 90 days | 365 days | Advanced Chart

MGNI Stock News Headlines

November 21, 2023 | marketbeat.com

2 low priced AdTech stocks to ride the advertising rebound (MGNI)

The growth of CTV devices and ad-supported streaming networks is a tailwind for these two SSP stocks that are priced cheap and didn't lower their guidance

November 29, 2023 | finance.yahoo.com

Magnite Research Highlights Opportunity for Brands Amidst Growth of Ad-supported Streaming in Indonesia

December 4, 2023 | DTI Trader (Ad)

New CBOE “special perk” helps traders target income every weekend

You might not immediately realize what you’re reading. Let me help you out a little… What you're looking at is a “special perk” set up by the Chicago Board of Options Exchange.

November 27, 2023 | seekingalpha.com

Magnite: Strong Cash Flows Will Matter Eventually

November 22, 2023 | finance.yahoo.com

Greenbids Selects Magnite as First SSP to Help Reduce Carbon Impact of Digital Advertising

November 18, 2023 | finance.yahoo.com

Insider Sell: CEO Michael Barrett Sells 75,000 Shares of Magnite Inc (MGNI)

November 13, 2023 | finance.yahoo.com

Magnite Research Uncovers Ad-Supported Streaming Services Deliver Scale and Impact for Brands in Southeast Asia

November 12, 2023 | finance.yahoo.com

Magnite, Inc. (NASDAQ:MGNI) Shares Could Be 46% Below Their Intrinsic Value Estimate

December 4, 2023 | DTI Trader (Ad)

New CBOE “special perk” helps traders target income every weekend

You might not immediately realize what you’re reading. Let me help you out a little… What you're looking at is a “special perk” set up by the Chicago Board of Options Exchange.

November 10, 2023 | markets.businessinsider.com

Kurnos’ Buy Rating on Magnite: Undervalued Stock, Promising Future Growth, and Healthy Financials

November 9, 2023 | finance.yahoo.com

Magnite, Inc. (NASDAQ:MGNI) Q3 2023 Earnings Call Transcript

November 8, 2023 | finance.yahoo.com

Magnite (MGNI) Q3 2023 Earnings Call Transcript

November 8, 2023 | finance.yahoo.com

Magnite Reports Third Quarter 2023 Results

November 8, 2023 | finance.yahoo.com

Magnite Inc (MGNI) Posts Mixed Q3 2023 Results with Revenue Growth and Net Loss Improvement

November 8, 2023 | seekingalpha.com

Magnite, Inc. 2023 Q3 - Results - Earnings Call Presentation

November 7, 2023 | finance.yahoo.com

Magnite (MGNI) Declined on Weakness in Spending

November 3, 2023 | markets.businessinsider.com

Analysts Offer Insights on NA Companies: Magnite (MGNI) and Costco (COST)

November 3, 2023 | markets.businessinsider.com

Analysts Offer Insights on NA Companies: Marcus (MCS), Magnite (MGNI) and Revolve Group (RVLV)

October 25, 2023 | finance.yahoo.com

Here’s Why Magnite (MGNI) Declined in Q3

October 18, 2023 | seekingalpha.com

Magnite: Adapting To Uncertain Terrain, Why I'm Neutral

October 17, 2023 | seekingalpha.com

Magnite Is A Recovery Candidate

October 6, 2023 | finance.yahoo.com

Magnite (MGNI) Reveals ML-Powered Feature for Demand Manager

October 5, 2023 | finance.yahoo.com

Magnite to Announce Third Quarter 2023 Financial Results on November 8, 2023

October 5, 2023 | finance.yahoo.com

Magnite Unveils New Demand Manager Feature Powered by Machine Learning to Help Publishers Earn Incremental Revenue

October 4, 2023 | finance.yahoo.com

Investing in Magnite (NASDAQ:MGNI) five years ago would have delivered you a 123% gain

September 28, 2023 | finance.yahoo.com

Magnite (MGNI) Partners With Snowflake to Boost Data Security

September 27, 2023 | finance.yahoo.com

Magnite Integrates Snowflake’s Media Data Cloud to Enhance Secure Data Activation for Agencies, Advertisers and Media Owners Across Magnite’s Streaming Supply

See More Headlines

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Company Calendar

Last Earnings: 11/08/2023
Today: 12/04/2023
Fiscal Year End: 12/31/2023
Next Earnings (Estimated): 2/28/2024

Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange: NASDAQ
Industry: Computer programming, data processing, & other computer related
Sub-Industry: N/A
Sector: Computer and Technology
Current Symbol: NASDAQ:MGNI
CUSIP: N/A
CIK: 1595974
Web: www.magnite.com
Phone: (212) 243-2769
Fax: 310-207-0528
Employees: 947
Year Founded: N/A

Price Target and Rating

Average Stock Price Target: $13.88
High Stock Price Target: $16.00
Low Stock Price Target: $11.00
Potential Upside/Downside: +65.4%
Consensus Rating: Moderate Buy
Rating Score (0-4): 2.80
Research Coverage: 10 Analysts

Profitability

EPS (Most Recent Fiscal Year): ($1.67)
Trailing P/E Ratio: N/A
Forward P/E Ratio: N/A
P/E Growth: N/A
Net Income: $-130,320,000.00
Net Margins: -37.24%
Pretax Margin: -37.79%
Return on Equity: 1.36%
Return on Assets: 0.38%

Debt

Debt-to-Equity Ratio: 0.92
Current Ratio: 1.12
Quick Ratio: 1.12

Sales & Book Value

Annual Sales: $608.18 million
Price / Sales: 1.90
Cash Flow: $1.96 per share
Price / Cash Flow: 4.27
Book Value: $4.73 per share
Price / Book: 1.77

Miscellaneous

Outstanding Shares: 137,851,000
Free Float: 131,923,000
Market Cap: $1.16 billion
Optionable: Optionable
Beta: 2.22

13 Stocks Institutional Investors Won't Stop Buying

Which stocks are major institutional investors including hedge funds and endowments buying in today's market? Click the link below and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying up as quickly as they can.

Get This Free Report

Key Executives

Mr. Michael G. Barrett (Age 61)
President, CEO & Director
Comp: $1.17M
Mr. David L. Day (Age 62)
Chief Financial Officer
Comp: $886.26k
Ms. Katie Evans (Age 37)
Chief Operating Officer
Comp: $786.86k
Mr. Adam Lee Soroca (Age 50)
Chief Product Officer
Comp: $785.94k
Mr. Sean Patrick Buckley
Chief Revenue Officer
Mr. Brian Gephart (Age 43)
Chief Accounting Officer
Mr. David Buonasera (Age 37)
Chief Technology Officer
Mr. Nick Kormeluk
VP of Investor Relations & Head of Global Real Estate
Mr. Aaron Saltz (Age 42)
Chief Legal Officer
Charlstie Veith
Global Head of Communications

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

MGNI Stock Analysis - Frequently Asked Questions

Should I buy or sell Magnite stock right now?: 10 Wall Street 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 analysts is that investors should "moderate buy" MGNI shares.
View MGNI analyst ratings or view top-rated stocks.
What is Magnite's stock price target for 2024?: 10 Wall Street analysts have issued 12-month price objectives for Magnite's shares. Their MGNI share price targets range from $11.00 to $16.00. On average, they anticipate the company's share price to reach $13.88 in the next year. This suggests a possible upside of 62.5% 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 beginning of the year. Since then, MGNI shares have decreased by 19.4% and is now trading at $8.54.
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, February 28th 2024.
View our MGNI earnings forecast.
How were Magnite's earnings last quarter?: Magnite, Inc. (NASDAQ:MGNI) issued its quarterly earnings data on Wednesday, November, 8th. The company reported $0.02 earnings per share for the quarter. The firm had revenue of $133.14 million for the quarter, compared to the consensus estimate of $130.30 million. Magnite had a negative net margin of 37.24% and a positive trailing twelve-month return on equity of 1.36%.

What ETFs hold Magnite's stock?: ETFs with the largest weight of Magnite (NASDAQ:MGNI) stock in their portfolio include SmartETFs Advertising & 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 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).
Who are Magnite's major shareholders?: Magnite's stock is owned by a number of institutional and retail investors. Top institutional investors include Rubric Capital Management LP (2.90%), Wellington Management Group LLP (2.09%), Kennedy Capital Management LLC (1.95%), Burgundy Asset Management Ltd. (1.72%), Victory Capital Management Inc. (1.49%) and Northern Trust Corp (0.98%). 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.

This page (NASDAQ:MGNI) was last updated on 12/4/2023 by MarketBeat.com Staff

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Magnite Stock Price, News & Analysis (NASDAQ:MGNI)

Magnite MarketRank™ Stock Analysis

Overall MarketRank™

Analyst's Opinion

Short Interest

Percentage of Shares Shorted

Short Interest Ratio / Days to Cover

Change versus previous month

Dividend Strength

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score

News and Social Media Coverage

News Sentiment

News Coverage This Week

Search Interest

MarketBeat Follows

Company Ownership

Earnings and Valuation

About Magnite Stock (NASDAQ:MGNI)

MGNI Stock Price History

MGNI Stock News Headlines

Company Calendar

Industry, Sector and Symbol

Price Target and Rating

Profitability

Debt

Sales & Book Value

Miscellaneous

Key Executives

Key Competitors

Insiders & Institutions

MGNI Stock Analysis - Frequently Asked Questions

Overall MarketRank^™