Analysts’ Views On Magnite Inc. (MGNI)


Magnite Inc. (NASDAQ:MGNI) traded with a subtraction of -$0.27 to $6.76 on Thursday, a downside of -3.91 percent. An average of 1,108,238 shares of common stock have been traded in the last five days. There was a fall of -$0.73 in the past week, and it reached a new high 1 time over the past 12 months. The last 20 days have seen an average of 1,209,574 shares traded, while the 50-day average volume stands at 1,574,174.

MGNI stock has decreased by -15.91% in the last month. The company shares reached their 1-month lowest point of $6.76 on 09/22/22. With the stock rallying to its 52-week high on 01/03/22, shares of the company touched a low of $7.01 and a high of $32.43 in 52 weeks. It has reached a new high 1 time so far this year and lost -59.83% or -$10.69 in price. In spite of this, the price is down -79.17% from the 52-week high.

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Insider Transactions

169 days have passed since Magnite Inc. (MGNI) last reported insider trading activity. Evans Katie Seitz, who is Chief Operating Officer, most recently acquired $15,805 shares at $13.13 per share on Apr 06. In this transaction, the insider spent $207,520. Chief Product Officer, Soroca Adam Lee, disposed of 5,000 shares at a price of $13.66 on Feb 15. The insider now owns more than $68,300 worth of shares. Prior to that, Chief Product Officer Soroca Adam Lee went on to Sale 5,000 shares at $14.61 each on Jan 18. An amount of $73,050 was transacted.

Valuation Metrics

Magnite Inc. (MGNI) stock’s beta is 2.03. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.80, the price-to-book (PB) ratio at 1.13, and the price-to-cash flow ratio at 6.67.

Financial Health

The quick ratio of Magnite Inc. for the three months ended March 30 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 0.88 and a total debt to equity ratio of 0.88 for the quarter ending March 30. Its gross profit as reported stood at $266.75 million compared to revenue of $468.41 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 -3.60%.

Earnings Surprise

For the three-month period that ended March 30, Magnite Inc. had $721.4 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$24.95 million in the quarter, while revenues of -$44.59 million were grew 247.54%. The analyst consensus anticipated Magnite Inc.’s latest quarter earnings to come in at $0.08 per share, but it turned out to be $0.08, a 0.00% surprise. For the quarter, EBITDA amounted to $24.59 million. Shareholders own equity worth $132.94 million.

Technical Picture

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 21 September was 29.46%, suggesting the stock is oversold, with historical volatility in this time frame at 48.34%.

As of today, MGNI’s price is $7.09 -9.68% or -$0.73 from its 5-day moving average. MGNI is currently trading -17.75% lower than its 20-day SMA and -29.43% lower than its 100-day SMA. However, the stock’s current price level is -15.61% below the SMA50 and -58.98% below the SMA200.

The stochastic %K and %D were 4.30% and 10.38%, respectively, and the average true range (ATR) was 0.38. With the 14-day stochastic at 4.56% and the average true range at 0.42, the RSI (14) stands at 33.75%. The stock has reached -0.34 on the 9-day MACD Oscillator while the 14-day reading was at -0.37.

Analyst Ratings

The Benchmark Company launched coverage on Magnite Inc. (NASDAQ: MGNI) in its analyst report released on July 14, 2022. The firm assigned the stock 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 $10.00 and $19.00, with a median target of $14.25. Taking a look at these predictions, the average price target given by analysts for Magnite Inc. (MGNI) stock is $14.75.


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