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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
1.54mentions of Magnite in the last 14 days
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


MGNI stock logo

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

MGNI Stock News Headlines

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
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.
Magnite: Strong Cash Flows Will Matter Eventually
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.
Magnite (MGNI) Q3 2023 Earnings Call Transcript
Magnite Reports Third Quarter 2023 Results
Magnite (MGNI) Declined on Weakness in Spending
Here’s Why Magnite (MGNI) Declined in Q3
Magnite: Adapting To Uncertain Terrain, Why I'm Neutral
Magnite Is A Recovery Candidate
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

Industry, Sector and Symbol

Industry
Computer programming, data processing, & other computer related
Sub-Industry
N/A
Current Symbol
NASDAQ:MGNI
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

Net Income
$-130,320,000.00
Pretax Margin
-37.79%

Debt

Sales & Book Value

Annual Sales
$608.18 million
Cash Flow
$1.96 per share
Book Value
$4.73 per share

Miscellaneous

Free Float
131,923,000
Market Cap
$1.16 billion
Optionable
Optionable
Beta
2.22
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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 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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