Market Analysts see Magnite Inc. [MGNI] gaining to $9. Time to buy?

Magnite Inc. [NASDAQ: MGNI] closed the trading session at $8.74 on 10/16/20. The day’s price range saw the stock hit a low of $8.46, while the highest price level was $8.90. The company report on October 12, 2020 that Magnite to Announce Third Quarter 2020 Financial Results on November 9, 2020.

Magnite (NASDAQ: MGNI), the largest independent sell-side advertising platform, will announce its financial results for the quarter ended September 30, 2020 after the market close on Monday, November 9, 2020. The Company will host a conference call at 1:30 PM (PT) / 4:30 PM (ET) the same day to discuss its financial results and outlook.

Live conference call.

The stocks have a year to date performance of 7.11 percent and weekly performance of 7.77 percent. The stock has been moved at 57.48 percent over the last six months. The stock has performed 39.84 percent around the most recent 30 days and changed 36.14 percent over the most recent 3-months.

If compared to the average trading volume of 2.19M shares, MGNI reached to a volume of 2169181 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Magnite Inc. [MGNI]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MGNI shares is $10.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MGNI stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

RBC Capital Mkts have made an estimate for Magnite Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on September 29, 2020. While these analysts kept the previous recommendation, Needham raised their target price to Buy. The new note on the price target was released on September 03, 2020, representing the official price target for Magnite Inc. stock.

The Average True Range (ATR) for Magnite Inc. is set at 0.57, with the Price to Sales ratio for MGNI stock in the period of the last 12 months amounting to 5.77. The Price to Book ratio for the last quarter was 2.66.

MGNI stock trade performance evaluation

Magnite Inc. [MGNI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.77. With this latest performance, MGNI shares gained by 39.84% in over the last four-week period, additionally plugging by 57.48% over the last 6 months – not to mention a drop of -2.89% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MGNI stock in for the last two-week period is set at 63.67, with the RSI for the last a single of trading hit 64.75, and the three-weeks RSI is set at 62.44 for Magnite Inc. [MGNI]. The present Moving Average for the last 50 days of trading for this stock 7.24, while it was recorded at 8.81 for the last single week of trading, and 7.41 for the last 200 days.

Magnite Inc. [MGNI]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Magnite Inc. [MGNI] shares currently have an operating margin of -17.63 and a Gross Margin at +62.17. Magnite Inc.’s Net Margin is presently recorded at -16.29.

Return on Total Capital for MGNI is now -21.85, given the latest momentum, and Return on Invested Capital for the company is -20.78. Return on Equity for this stock declined to -22.16, with Return on Assets sitting at -6.75. When it comes to the capital structure of this company, Magnite Inc. [MGNI] has a Total Debt to Total Equity ratio set at 20.11. Additionally, MGNI Total Debt to Total Capital is recorded at 16.74, with Total Debt to Total Assets ending up at 5.70. Long-Term Debt to Equity for the company is recorded at 13.61, with the Long-Term Debt to Total Capital now at 11.33.

Reflecting on the efficiency of the workforce at the company, Magnite Inc. [MGNI] managed to generate an average of -$57,383 per employee. Receivables Turnover for the company is 0.74 with a Total Asset Turnover recorded at a value of 0.41.Magnite Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.

Earnings per share (EPS) analysis for Magnite Inc. [MGNI] stock

With the latest financial reports released by the company, Magnite Inc. posted -0.02/share EPS, while the average EPS was predicted by analysts to be reported at -0.07/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 71.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MGNI.

Magnite Inc. [MGNI]: Insider Ownership positions

There are presently around $651 million, or 68.70% of MGNI stock, in the hands of institutional investors. The top three institutional holders of MGNI stocks are: GRANAHAN INVESTMENT MANAGEMENT INC/MA with ownership of 7,858,116, which is approximately 137.057% of the company’s market cap and around 5.10% of the total institutional ownership; BLACKROCK INC., holding 7,178,303 shares of the stock with an approximate value of $62.74 million in MGNI stocks shares; and VANGUARD GROUP INC, currently with $48.36 million in MGNI stock with ownership of nearly 0.005% of the company’s market capitalization.

Positions in Magnite Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 88 institutional holders increased their position in Magnite Inc. [NASDAQ:MGNI] by around 19,487,377 shares. Additionally, 118 investors decreased positions by around 18,946,526 shares, while 12 investors held positions by with 36,073,303 shares. The mentioned changes placed institutional holdings at 74,507,206 shares, according to the latest SEC report filing. MGNI stock had 34 new institutional investments in for a total of 5,647,261 shares, while 61 institutional investors sold positions of 8,507,280 shares during the same period.

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