Magnite (NASDAQ:MGNI - Get Free Report) will be posting its quarterly earnings results after the market closes on Thursday, November 7th. Analysts expect Magnite to post earnings of $0.16 per share for the quarter. Magnite has set its Q3 2024 guidance at EPS.Individual interested in listening to the company's earnings conference call can do so using this link.
Magnite (NASDAQ:MGNI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). The business had revenue of $162.88 million during the quarter, compared to analyst estimates of $144.04 million. Magnite had a negative net margin of 0.83% and a positive return on equity of 3.74%. The firm's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.04) earnings per share. On average, analysts expect Magnite to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.
Magnite Trading Down 1.8 %
Shares of NASDAQ:MGNI traded down $0.23 during midday trading on Thursday, reaching $12.48. The company's stock had a trading volume of 1,746,910 shares, compared to its average volume of 1,586,172. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of -19.38, a PEG ratio of 1.09 and a beta of 2.41. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a 50 day moving average price of $12.94 and a two-hundred day moving average price of $12.49. Magnite has a fifty-two week low of $6.46 and a fifty-two week high of $15.92.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the company. Benchmark reissued a "buy" rating and issued a $21.00 price objective on shares of Magnite in a research note on Wednesday, October 2nd. Wolfe Research initiated coverage on Magnite in a research note on Tuesday, July 16th. They set an "outperform" rating and a $16.00 price target on the stock. Craig Hallum reaffirmed a "buy" rating and set a $20.00 price target on shares of Magnite in a research note on Wednesday, August 21st. Lake Street Capital initiated coverage on Magnite in a research note on Thursday, July 25th. They set a "buy" rating and a $21.00 price target on the stock. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $19.00 price target on shares of Magnite in a research note on Friday, September 27th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $16.86.
Read Our Latest Research Report on Magnite
Insiders Place Their Bets
In other Magnite news, CRO Sean Patrick Buckley sold 2,623 shares of the business's stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $12.53, for a total transaction of $32,866.19. Following the completion of the sale, the executive now directly owns 331,742 shares of the company's stock, valued at approximately $4,156,727.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CRO Sean Patrick Buckley sold 2,623 shares of the company's stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $12.53, for a total value of $32,866.19. Following the completion of the transaction, the executive now directly owns 331,742 shares of the company's stock, valued at $4,156,727.26. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO David Buonasera sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $12.65, for a total value of $126,500.00. Following the completion of the transaction, the chief technology officer now directly owns 258,102 shares of the company's stock, valued at approximately $3,264,990.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,533 shares of company stock valued at $1,206,203. Corporate insiders own 4.30% of the company's stock.
About Magnite
(
Get Free Report)
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.
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