Magnite Inc. (NASDAQ:MGNI) finished Wednesday with an addition of $1.74 to close at $30.40, an upside of 6.07 percent. An average of 987,580 shares of common stock have been traded in the last five days. There was a gain of $3.72 in the past week. The last 20 days have seen an average of 1,595,380 shares traded, while the 50-day average volume stands at 2,078,260.
MGNI stock has increased by 2.81% in the last month. The company shares reached their 1-month lowest point of $25.45 on 10/06/21. With the stock rallying to its 52-week high on 02/09/21, shares of the company touched a low of $8.19 and a high of $64.39 in 52 weeks. In spite of this, the price is down -52.79% from the 52-week high.
3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
30 days have passed since Magnite Inc. (MGNI) last reported insider trading activity. Evans Katie Seitz, who is Chief Operating Officer, most recently acquired $32,260 shares at $30.00 per share on Sep 14. In this transaction, the insider spent $967,800. Chief Operating Officer, Evans Katie Seitz, disposed of 31,930 shares at a price of $28.48 on Sep 13. The insider now owns more than $909,367 worth of shares. Prior to that, General Counsel Saltz Aaron went on to Sale 40,004 shares at $30.21 each on Sep 10. An amount of $1,208,521 was transacted.
Magnite Inc. (MGNI) has a trailing price-to-earnings (P/E) ratio of 295.15, which compares with the 19.30 for the broader industry and 30.41 for the sector. In the last five years, Magnite Inc.’s PE ratio has ranged between 346.80 and 12.71. The stock’s beta is 2.26. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 12.60, the price-to-book (PB) ratio at 4.31, and the price-to-cash flow ratio at 267.24.
The quick ratio of Magnite Inc. for the three months ended June 29 was 1.10, and the current ratio was 1.10, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.81 and a total debt to equity ratio of 0.81 for the quarter ending June 29. On the profitability front, the trailing 12-month gross margin is 64.30% against a 5-year average of 63.4%. Magnite Inc.’s EBITDA margin for the year ending June 29 is 5.32%, while its operating margin for the same period stands at -20.00%. Its gross profit as reported stood at $143.88 million compared to revenue of $221.63 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Magnite Inc.’s return on assets was 1.40%, compared to -13.8% over the last five years. In the past year, the return on investment has been -14.40%, and the 5-year average is -31.1%. Meanwhile, the return on equity (ROE) for the past 12 months has been 3.90% and the 5-year average holds at -32.1%. For the broader industry, ROE averaged 4.77 over the past year.
The analyst consensus anticipated Magnite Inc.’s latest quarter earnings to come in at $0.12 per share, but it turned out to be $0.11, a -8.30% surprise. For the quarter, EBITDA amounted to -$9.67 million. Shareholders own equity worth $131.25 million.
From a technical analysis perspective, let’s take a brief look at Magnite Inc. (MGNI) price momentum. RSI 9-day as of the close on 13 October was 61.43%, suggesting the stock is Neutral, with historical volatility in this time frame at 69.31%.
As of today, MGNI’s price is $28.65 +13.94% or $3.72 from its 5-day moving average. MGNI is currently trading +1.33% higher than its 20-day SMA and +6.44% higher than its 100-day SMA. However, the stock’s current price level is +2.84% above the SMA50 and -2.06% below the SMA200.
The stochastic %K and %D were 50.76% and 42.50%, respectively, and the average true range (ATR) was 1.59. With the 14-day stochastic at 73.33% and the average true range at 1.64, the RSI (14) stands at 56.24%. The stock has reached 1.12 on the 9-day MACD Oscillator while the 14-day reading was at 0.56.
Berenberg launched coverage on Magnite Inc. (NASDAQ: MGNI) in its analyst report released on September 22, 2021. The firm assigned the stock a a Buy rating.The consensus rating for Magnite Inc. (MGNI) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell MGNI, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 9 others rate it as a “buy”.
What is MGNI’s price target for the next 12 months?
Analysts predict a range of price targets between $37.00 and $70.00, with a median target of $43.00. Taking a look at these predictions, the average price target given by analysts for Magnite Inc. (MGNI) stock is $47.30.