Magnite (MGNI) Stock Forecast, Price & News

8 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Magnite in the last year. There are currently 1 hold rating and 7 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" MGNI shares.
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8 Wall Street research analysts have issued 1 year price targets for Magnite's stock. Their MGNI share price forecasts range from $11.00 to $16.00. On average, they anticipate the company's share price to reach $14.22 in the next year. This suggests a possible upside of 19.7% from the stock's current price.
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Magnite's stock was trading at $10.59 at the beginning of the year. Since then, MGNI shares have increased by 12.2% and is now trading at $11.88.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, August 8th 2023.
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Magnite, Inc. (NASDAQ:MGNI) released its earnings results on Wednesday, May, 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.22. The firm had revenue of $130.15 million for the quarter, compared to the consensus estimate of $110.90 million. Magnite had a positive trailing twelve-month return on equity of 3.29% and a negative net margin of 31.31%.

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), Invesco Dynamic Software ETF (PSJ), Nuveen Small Cap Select ETF (NSCS), SPDR FactSet Innovative Technology ETF (XITK), Fidelity Growth Opportunities ETF (FGRO), RiverFront Dynamic US Flex-Cap ETF (RFFC) and Vanguard U.S. Value Factor (VFVA).

Magnite updated its second quarter 2023 earnings guidance on Friday, May, 12th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $132.00 million-$136.00 million, compared to the consensus revenue estimate of $127.19 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 retail and institutional investors. Top institutional shareholders include Granahan Investment Management LLC (6.76%), Dimensional Fund Advisors LP (3.13%), Frontier Capital Management Co. LLC (1.97%), Geode Capital Management LLC (1.82%), Victory Capital Management Inc. (1.28%) and Wellington Management Group LLP (1.19%). 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, 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 $11.88.

Magnite (NASDAQ:MGNI) has a market capitalization of $1.61 billion and generates $577.07 million in revenue each year. The company earns $-130,320,000.00 in net income (profit) each year or ($1.37) 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 (212) 243-2769, via email at investor@rubiconproject.com, or via fax at 310-207-0528.