Magnite (NASDAQ:MGNI) Announces Quarterly Earnings Results

Magnite (NASDAQ:MGNI) issued its quarterly earnings data on Wednesday. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.14), Zacks reports. The firm had revenue of $180.20 million for the quarter, compared to the consensus estimate of $183.90 million. Magnite had a return on equity of 4.64% and a net margin of 2.62%. Magnite updated its Q1 2025 guidance to EPS.

Magnite Price Performance

MGNI traded down $0.98 on Friday, reaching $15.58. The stock had a trading volume of 1,841,343 shares, compared to its average volume of 2,407,496. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 261.00, a price-to-earnings-growth ratio of 1.00 and a beta of 2.52. Magnite has a fifty-two week low of $8.38 and a fifty-two week high of $21.29. The firm has a 50-day moving average of $17.31 and a 200-day moving average of $15.18.

Insider Activity

In related news, insider Sean Patrick Buckley sold 18,693 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $20.00, for a total transaction of $373,860.00. Following the completion of the transaction, the insider now directly owns 408,529 shares of the company’s stock, valued at $8,170,580. This trade represents a 4.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO David Buonasera sold 1,969 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $16.31, for a total value of $32,114.39. Following the completion of the sale, the chief technology officer now owns 223,795 shares in the company, valued at $3,650,096.45. This trade represents a 0.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 398,110 shares of company stock valued at $7,418,043 over the last quarter. 4.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

MGNI has been the topic of several recent research reports. Susquehanna increased their price objective on Magnite from $16.00 to $22.00 and gave the stock a “positive” rating in a research report on Thursday. Wolfe Research lifted their price objective on shares of Magnite from $14.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Royal Bank of Canada increased their target price on shares of Magnite from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price target on shares of Magnite in a research report on Thursday. Finally, Scotiabank initiated coverage on Magnite in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $22.00 price objective on the stock. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.27.

Magnite Company Profile

Magnite, Inc, together with its subsidiaries, operates an independent omni-channel 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 applications and services for buyers, including advertisers, agencies, agency trading desks, and demand side platforms to buy digital advertising inventory, as well as an independent marketplace that connects buyers and sellers.