Magnite Inc. [NASDAQ: MGNI] stock went on a downward path that fall over -4.71% on Friday, amounting to a one-week price decrease of less than -6.32%. The company report on April 15, 2021 that Use of First-Party Identifiers Shows Significant Lift in eCPMs According to Findings from Magnite and Adform.
In environments that disallow third party cookies such as Firefox and Safari, eCPMs increased more than 30% when first party identifiers were utilized.
Magnite (Nasdaq: MGNI), the largest independent sell-side advertising platform, announced it has been working with Adform, the only independent global ad management platform covering all aspects of the digital campaign lifecycle, to scale first party identifiers in privacy-safe ways. With the pending elimination of third-party cookies, the industry must establish future-proof identity solutions for publishers and buyers.
Over the last 12 months, MGNI stock rose by 599.63%. The one-year Magnite Inc. stock forecast points to a potential upside of 33.24. The average equity rating for MGNI stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $4.56 billion, with 112.69 million shares outstanding and 106.79 million shares in the current float. Compared to the average trading volume of 4.12M shares, MGNI stock reached a trading volume of 2894134 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $56.38 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 2.00. 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.
Evercore ISI have made an estimate for Magnite Inc. shares, keeping their opinion on the stock as In-line, with their previous recommendation back on April 06, 2021. While these analysts kept the previous recommendation, B. Riley Securities raised their target price to Neutral. The new note on the price target was released on January 28, 2021, representing the official price target for Magnite Inc. stock. Previously, the target price had yet another raise from $12 to $37, while Truist kept a Hold rating on MGNI stock. On January 22, 2021, analysts increased their price target for MGNI shares from 25 to 45.
The Average True Range (ATR) for Magnite Inc. is set at 3.54, with the Price to Sales ratio for MGNI stock in the period of the last 12 months amounting to 20.60. The Price to Book ratio for the last quarter was 11.10, with the Price to Cash per share for the same quarter was set at 0.97.
MGNI Stock Performance Analysis:
Magnite Inc. [MGNI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.32. With this latest performance, MGNI shares dropped by -23.11% in over the last four-week period, additionally plugging by 304.30% over the last 6 months – not to mention a rise of 599.63% 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 40.34, with the RSI for the last a single of trading hit 35.90, and the three-weeks RSI is set at 43.64 for Magnite Inc. [MGNI]. The present Moving Average for the last 50 days of trading for this stock 47.23, while it was recorded at 39.71 for the last single week of trading, and 22.40 for the last 200 days.
Insight into Magnite Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Magnite Inc. [MGNI] shares currently have an operating margin of -16.55 and a Gross Margin at +58.44. Magnite Inc.’s Net Margin is presently recorded at -24.11.
Return on Total Capital for MGNI is now -13.14, given the latest momentum, and Return on Invested Capital for the company is -19.75. Return on Equity for this stock declined to -21.65, with Return on Assets sitting at -8.01. When it comes to the capital structure of this company, Magnite Inc. [MGNI] has a Total Debt to Total Equity ratio set at 11.03. Additionally, MGNI Total Debt to Total Capital is recorded at 9.93, with Total Debt to Total Assets ending up at 4.48. Long-Term Debt to Equity for the company is recorded at 8.46, with the Long-Term Debt to Total Capital now at 7.62.
Reflecting on the efficiency of the workforce at the company, Magnite Inc. [MGNI] managed to generate an average of -$93,905 per employee. Receivables Turnover for the company is 0.64 with a Total Asset Turnover recorded at a value of 0.33.Magnite Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.
MGNI Stock EPS
With the latest financial reports released by the company, Magnite Inc. posted -0.06/share EPS, while the average EPS was predicted by analysts to be reported at -0.06/share. 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 Position Details
There are presently around $2,874 million, or 67.30% of MGNI stock, in the hands of institutional investors. The top three institutional holders of MGNI stocks are: BLACKROCK INC. with ownership of 8,030,030, which is approximately 7.715% of the company’s market cap and around 4.10% of the total institutional ownership; GRANAHAN INVESTMENT MANAGEMENT INC/MA, holding 6,715,157 shares of the stock with an approximate value of $252.76 million in MGNI stocks shares; and VANGUARD GROUP INC, currently with $197.83 million in MGNI stock with ownership of nearly 3.142% of the company’s market capitalization.
Positions in Magnite Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 152 institutional holders increased their position in Magnite Inc. [NASDAQ:MGNI] by around 26,233,124 shares. Additionally, 97 investors decreased positions by around 33,896,386 shares, while 17 investors held positions by with 16,225,805 shares. The mentioned changes placed institutional holdings at 76,355,315 shares, according to the latest SEC report filing. MGNI stock had 90 new institutional investments in for a total of 10,195,254 shares, while 30 institutional investors sold positions of 12,446,429 shares during the same period.