Magnite (NASDAQ:MGNI) Posts Quarterly Earnings Results

Magnite (NASDAQ:MGNI - Get Free Report) announced its earnings results on Wednesday. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.14), Zacks reports. The firm had revenue of $180.20 million during the quarter, compared to analysts' expectations of $183.90 million. Magnite had a net margin of 2.62% and a return on equity of 4.64%. Magnite updated its Q1 2025 guidance to EPS.

Magnite Stock Performance

Shares of NASDAQ:MGNI traded down $0.78 on Friday, reaching $15.77. 4,385,967 shares of the company's stock were exchanged, compared to its average volume of 2,475,681. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 262.83, a PEG 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 business's 50-day moving average is $17.30 and its two-hundred day moving average is $15.24. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.76.

Insiders Place Their Bets

In related news, Director James Rossman sold 149,936 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $19.46, for a total value of $2,917,754.56. Following the completion of the transaction, the director now owns 219,920 shares in the company, valued at $4,279,643.20. This represents a 40.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Michael G. Barrett sold 147,996 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $17.52, for a total transaction of $2,592,889.92. Following the completion of the transaction, the chief executive officer now owns 634,914 shares of the company's stock, valued at $11,123,693.28. This represents a 18.90 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 398,110 shares of company stock valued at $7,418,043. Company insiders own 4.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MGNI shares. Macquarie restated an "outperform" rating and issued a $18.00 target price on shares of Magnite in a research note on Friday, November 8th. Susquehanna upped their target price on shares of Magnite from $16.00 to $22.00 and gave the company a "positive" rating in a research note on Thursday. Needham & Company LLC reiterated a "buy" rating and set a $20.00 price objective on shares of Magnite in a research note on Thursday. Scotiabank started coverage on shares of Magnite in a research note on Thursday, December 5th. They set a "sector outperform" rating and a $22.00 price objective on the stock. Finally, Wells Fargo & Company increased their price objective on shares of Magnite from $13.00 to $15.00 and gave the company an "equal weight" rating in a research note on Thursday, January 16th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus 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.