Magnite (MGNI) Stock Price, News & Analysis

Company Overview

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. It markets its solutions through sales teams that operate from various locations. The company was formerly known as The Rubicon Project, Inc. and changed name to Magnite, Inc. in July 2020. Magnite, Inc. was incorporated in 2007 and is headquartered in New York, New York.

Key Stats

• Today's Range: $15.26 to $16.39
• 50-Day Range: $11.97 to $18.00
• 52-Week Range: $8.38 to $18.38
• Volume: 2.80 million shs
• Average Volume: 1.66 million shs
• Market Capitalization: $2.30 billion
• P/E Ratio: 272.33
• Dividend Yield: N/A
• Price Target: $17.73
• Consensus Rating: Moderate Buy

Magnite Stock Analysis - MarketRank™

Magnite scored higher than 43% of companies evaluated by MarketBeat, and ranked 448th out of 653 stocks in the computer and technology sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 2.5 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

Magnite has received a consensus rating of Moderate Buy. The company's average rating score is 2.92, and is based on 12 buy ratings, 1 hold rating, and no sell ratings.

Amount of Analyst Coverage

Magnite has been the subject of 6 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Earnings and Valuation

• Score: 1.9 / 5
• Proj. Earnings Growth: 60.61%

Earnings Growth

Earnings for Magnite are expected to grow by 60.61% in the coming year, from $0.33 to $0.53 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Magnite is 272.33, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 113.40.

Price to Earnings Ratio vs. Sector

The P/E ratio of Magnite is 272.33, which means that it is trading at a more expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 237.90.

Price to Earnings Growth Ratio

Magnite has a PEG Ratio of 1.35. PEG Ratios above 1 indicate that a company could be overvalued.

Price to Book Value per Share Ratio

Magnite has a P/B Ratio of 3.21. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Short Interest

• Score: 1.0 / 5
• Short Interest Level: Bearish

Percentage of Shares Shorted

5.96% of the outstanding shares of Magnite have been sold short.

Short Interest Ratio / Days to Cover

Magnite has a short interest ratio ("days to cover") of 4.3.

Change versus previous month

Short interest in Magnite has recently increased by 7.29%, indicating that investor sentiment is decreasing significantly.

Dividend

• Score: 0.0 / 5
• Dividend Strength: N/A

Dividend Yield

Magnite does not currently pay a dividend.

Dividend Growth

Magnite does not have a long track record of dividend growth.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

5.96% of the outstanding shares of Magnite have been sold short.

Short Interest Ratio / Days to Cover

Magnite has a short interest ratio ("days to cover") of 4.3.

Change versus previous month

Short interest in Magnite has recently increased by 7.29%, indicating that investor sentiment is decreasing significantly.

News and Social Media

• Score: 2.6 / 5
• News Sentiment: 0.71

News Sentiment

Magnite has a news sentiment score of 0.71. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This news sentiment score is similar to the average news sentiment of Computer and Technology companies.

News Coverage This Week

MarketBeat has tracked 9 news articles for Magnite this week, compared to 5 articles on an average week.

Search Interest

Only 5 people have searched for MGNI on MarketBeat in the last 30 days. This is a decrease of -50% compared to the previous 30 days.

MarketBeat Follows

7 people have added Magnite to their MarketBeat watchlist in the last 30 days. This is an increase of 75% compared to the previous 30 days.

Company Ownership

• Score: 2.5 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, Magnite insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $5,938,282.00 in company stock.

Percentage Held by Insiders

Only 4.30% of the stock of Magnite is held by insiders.

Percentage Held by Institutions

73.40% of the stock of Magnite is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

MGNI Stock Analysis - Frequently Asked Questions

How have MGNI shares performed this year?

Magnite's stock was trading at $9.34 at the beginning of the year. Since then, MGNI stock has increased by 74.9% and is now trading at $16.34.
View the best growth stocks for 2024 here.

How were Magnite's earnings last quarter?

Magnite, Inc. (NASDAQ:MGNI) issued its quarterly earnings data on Wednesday, August, 7th. The company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by $0.01. The company's revenue was up 6.8% on a year-over-year basis.

Who are Magnite's major shareholders?

Magnite's top institutional investors include Wellington Management Group LLP (4.68%), Edenbrook Capital LLC (2.48%), State Street Corp (2.17%) and Geode Capital Management LLC (2.11%). Insiders that own company stock include Michael G Barrett, Adam Lee Soroca, Katie Seitz Evans, David Day, Sean Patrick Buckley, Aaron Saltz, David Buonasera, Lisa L Troe, Brian Gephart, Robert F Spillane and Rachel Lam.
View institutional ownership trends.

How do I buy shares of Magnite?

Shares of MGNI stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Magnite own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Magnite investors own include NVIDIA (NVDA), Meta Platforms (META), Tesla (TSLA), Advanced Micro Devices (AMD), PayPal (PYPL), CrowdStrike (CRWD) and Netflix (NFLX).

Company Calendar

• Last Earnings: 8/07/2024
• Today: 12/21/2024
• Fiscal Year End: 12/31/2024

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Computer and Technology
• Industry: Computer programming, data processing, & other computer related
• Sub-Industry: Computer Software
• Current Symbol: NASDAQ:MGNI
• CUSIP: N/A
• CIK: 1595974
• Web: www.magnite.com
• Phone: (212) 243-2769
• Fax: 310-207-0528
• Employees: 911
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $17.73
• High Stock Price Target: $22.00
• Low Stock Price Target: $13.00
• Potential Upside/Downside: +8.5%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.92
• Research Coverage: 13 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $0.06
• Trailing P/E Ratio: 272.33
• Forward P/E Ratio: 49.52
• P/E Growth: 1.35
• Net Income: $-159,180,000.00
• Net Margins: 2.62%
• Pretax Margin: 2.63%
• Return on Equity: 4.64%
• Return on Assets: 1.25%

Debt

• Debt-to-Equity Ratio: 0.76
• Current Ratio: 1.11
• Quick Ratio: 1.11

Sales & Book Value

• Annual Sales: $661.13 million
• Price / Sales: 3.48
• Cash Flow: $0.63 per share
• Price / Cash Flow: 25.83
• Book Value: $5.09 per share
• Price / Book: 3.21

Miscellaneous

• Outstanding Shares: 140,690,000
• Free Float: 134,640,000
• Market Cap: $2.30 billion
• Optionable: Optionable
• Beta: 2.50