Magnite Inc. [MGNI] fell -37.49% so far this year. What now?

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Magnite Inc. [NASDAQ: MGNI] price surged by 3.01 percent to reach at $0.32. The company report on May 4, 2022 that Magnite Reports First Quarter 2022 Results.

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Total Revenue Grows over 90%.

A sum of 3009121 shares traded at recent session while its average daily volume was at 2.12M shares. Magnite Inc. shares reached a high of $11.20 and dropped to a low of $10.37 until finishing in the latest session at $10.94.

The one-year MGNI stock forecast points to a potential upside of 50.27. The average equity rating for MGNI stock is currently 2.00, trading closer to a bullish pattern in the stock market.

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 $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 0.83, with the Price to Sales ratio for MGNI stock in the period of the last 12 months amounting to 3.28. The Price to Book ratio for the last quarter was 1.64, with the Price to Cash per share for the same quarter was set at 1.64. Price to Free Cash Flow for MGNI in the course of the last twelve months was 14.11 with Quick ratio for the last quarter at 1.10.

MGNI Stock Performance Analysis:

Magnite Inc. [MGNI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.73. With this latest performance, MGNI shares dropped by -20.61% in over the last four-week period, additionally sinking by -59.93% over the last 6 months – not to mention a drop of -66.07% 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 46.33, with the RSI for the last a single of trading hit 49.54, and the three-weeks RSI is set at 45.37 for Magnite Inc. [MGNI]. The present Moving Average for the last 50 days of trading for this stock 12.27, while it was recorded at 10.31 for the last single week of trading, and 20.19 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 -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.

Magnite Inc. [MGNI] Insider Position Details

There are presently around $933 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 $103.33 million in MGNI stocks shares; and GRANAHAN INVESTMENT MANAGEMENT, LLC, currently with $90.08 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 139 institutional holders increased their position in Magnite Inc. [NASDAQ:MGNI] by around 15,483,164 shares. Additionally, 128 investors decreased positions by around 19,437,338 shares, while 38 investors held positions by with 52,965,177 shares. The mentioned changes placed institutional holdings at 87,885,679 shares, according to the latest SEC report filing. MGNI stock had 47 new institutional investments in for a total of 4,428,325 shares, while 59 institutional investors sold positions of 4,585,554 shares during the same period.