Magnite, Inc. (NASDAQ:MGNI) Receives $26.20 Consensus Target Price from Brokerages

Shares of Magnite, Inc. (NASDAQ:MGNI) have earned an average recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $26.20.

A number of research firms have commented on MGNI. Susquehanna increased their target price on Magnite from $22.00 to $28.00 and gave the stock a “positive” rating in a report on Thursday, August 7th. Royal Bank Of Canada upped their price target on Magnite from $19.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Magnite in a report on Wednesday, October 8th. Wall Street Zen lowered Magnite from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $39.00 target price on shares of Magnite in a research report on Thursday, November 6th.

Magnite Price Performance

Shares of MGNI stock opened at $14.15 on Wednesday. The firm has a fifty day moving average of $19.77 and a two-hundred day moving average of $20.21. The firm has a market cap of $2.03 billion, a P/E ratio of 48.79, a P/E/G ratio of 1.42 and a beta of 3.13. Magnite has a 1-year low of $8.22 and a 1-year high of $26.65. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.00 and a quick ratio of 1.00.

Magnite (NASDAQ:MGNI) last issued its earnings results on Wednesday, November 5th. The company reported $0.20 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.20. The business had revenue of $179.49 million for the quarter, compared to analyst estimates of $163.29 million. Magnite had a net margin of 6.30% and a return on equity of 8.07%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.17 EPS. Magnite has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, research analysts anticipate that Magnite will post 0.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Aaron Saltz sold 8,522 shares of Magnite stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $24.50, for a total value of $208,789.00. Following the sale, the insider directly owned 215,079 shares in the company, valued at $5,269,435.50. This trade represents a 3.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Brian Gephart sold 27,671 shares of the company’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $24.71, for a total transaction of $683,750.41. Following the completion of the transaction, the chief accounting officer owned 92,898 shares of the company’s stock, valued at approximately $2,295,509.58. This trade represents a 22.95% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 197,460 shares of company stock worth $4,896,707. 3.80% of the stock is owned by company insiders.

Institutional Trading of Magnite

Several hedge funds have recently added to or reduced their stakes in the business. MCF Advisors LLC grew its stake in shares of Magnite by 2,100.0% in the first quarter. MCF Advisors LLC now owns 2,200 shares of the company’s stock worth $25,000 after purchasing an additional 2,100 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in Magnite in the third quarter worth about $27,000. Smartleaf Asset Management LLC lifted its holdings in Magnite by 74.9% in the first quarter. Smartleaf Asset Management LLC now owns 2,810 shares of the company’s stock worth $33,000 after purchasing an additional 1,203 shares during the period. US Bancorp DE grew its position in Magnite by 75.8% in the 3rd quarter. US Bancorp DE now owns 1,596 shares of the company’s stock valued at $35,000 after buying an additional 688 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Magnite by 355.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,517 shares of the company’s stock valued at $37,000 after buying an additional 1,184 shares during the period. Institutional investors own 73.40% of the company’s stock.

About Magnite

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.