For Magnite Inc. [MGNI], Analyst sees a rise to $37. What next?

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Magnite Inc. [NASDAQ: MGNI] gained 5.82% on the last trading session, reaching $12.36 price per share at the time. The company report on April 4, 2022 that Magnite to Announce First Quarter 2022 Financial Results on May 4, 2022.

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Magnite (Nasdaq: MGNI), the largest independent sell-side advertising platform, will announce its financial results for the quarter ended March 31, 2022 after the market close on Wednesday, May 4, 2022. 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.

Magnite Inc. represents 132.20 million in outstanding shares, while the company has a total market value of $1.71 billion with the latest information. MGNI stock price has been found in the range of $12.11 to $13.02.

If compared to the average trading volume of 2.28M shares, MGNI reached a trading volume of 3562896 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $22.00 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.

Berenberg have made an estimate for Magnite Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 22, 2021. While these analysts kept the previous recommendation, Macquarie raised their target price to Outperform. The new note on the price target was released on August 31, 2021, representing the official price target for Magnite Inc. stock. Previously, the target price had yet another raise to $40, while RBC Capital Mkts analysts kept a Outperform rating on MGNI stock.

The Average True Range (ATR) for Magnite Inc. is set at 0.82, with the Price to Sales ratio for MGNI stock in the period of the last 12 months amounting to 3.65. The Price to Book ratio for the last quarter was 1.86, with the Price to Cash per share for the same quarter was set at 1.67. Price to Free Cash Flow for MGNI in the course of the last twelve months was 15.70 with Quick ratio for the last quarter at 1.10.

Trading performance analysis for MGNI stock

Magnite Inc. [MGNI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.39. With this latest performance, MGNI shares dropped by -6.22% in over the last four-week period, additionally sinking by -59.58% over the last 6 months – not to mention a drop of -65.77% 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 48.42, with the RSI for the last a single of trading hit 50.38, and the three-weeks RSI is set at 47.59 for Magnite Inc. [MGNI]. The present Moving Average for the last 50 days of trading for this stock 12.82, while it was recorded at 11.60 for the last single week of trading, and 21.31 for the last 200 days.

Magnite Inc. [MGNI]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Magnite Inc. [MGNI] shares currently have an operating margin of -9.16 and a Gross Margin at +42.27. Magnite Inc.’s Net Margin is presently recorded at +0.01.

Return on Equity for this stock inclined to 0.01, with Return on Assets sitting at 0.00.

Magnite Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.

An analysis of insider ownership at Magnite Inc. [MGNI]

There are presently around $1,049 million, or 68.50% of MGNI stock, in the hands of institutional investors. The top three institutional holders of MGNI stocks are: VANGUARD GROUP INC with ownership of 11,822,381, which is approximately 0.764% of the company’s market cap and around 3.30% of the total institutional ownership; FMR LLC, holding 9,730,002 shares of the stock with an approximate value of $113.65 million in MGNI stocks shares; and GRANAHAN INVESTMENT MANAGEMENT, LLC, currently with $99.07 million in MGNI stock with ownership of nearly 18.425% 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 134 institutional holders increased their position in Magnite Inc. [NASDAQ:MGNI] by around 17,777,306 shares. Additionally, 142 investors decreased positions by around 17,321,004 shares, while 36 investors held positions by with 54,753,497 shares. The mentioned changes placed institutional holdings at 89,851,807 shares, according to the latest SEC report filing. MGNI stock had 46 new institutional investments in for a total of 7,314,201 shares, while 66 institutional investors sold positions of 5,027,491 shares during the same period.