Magnite Inc. [NASDAQ: MGNI] loss -7.07% on the last trading session, reaching $5.78 price per share at the time. The company report on November 9, 2022 that Magnite Reports Third Quarter 2022 Results.
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Total Revenue Grows 11% & Revenue ex-TAC Grows 12% Year-Over-Year.
CTV Revenue ex-TAC Grew 29% Year-Over-Year & Represents 44% of Total.
Magnite Inc. represents 132.43 million in outstanding shares, while the company has a total market value of $755.91 million with the latest information. MGNI stock price has been found in the range of $5.585 to $6.23.
If compared to the average trading volume of 1.41M shares, MGNI reached a trading volume of 3625482 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 $14.45 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.
The Benchmark Company have made an estimate for Magnite Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 14, 2022. While these analysts kept the previous recommendation, Berenberg raised their target price to Buy. The new note on the price target was released on September 22, 2021, representing the official price target for Magnite Inc. stock. Previously, the target price had yet another raise to $39, while Macquarie analysts kept a Outperform rating on MGNI stock.
The Average True Range (ATR) for Magnite Inc. is set at 0.45, with the Price to Sales ratio for MGNI stock in the period of the last 12 months amounting to 1.38. The Price to Book ratio for the last quarter was 0.93, with the Price to Cash per share for the same quarter was set at 1.78. Price to Free Cash Flow for MGNI in the course of the last twelve months was 5.12 with Quick ratio for the last quarter at 1.10.
Trading performance analysis for MGNI stock
Magnite Inc. [MGNI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.83. With this latest performance, MGNI shares dropped by -10.94% in over the last four-week period, additionally sinking by -35.49% over the last 6 months – not to mention a drop of -75.82% 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 31.84, with the RSI for the last a single of trading hit 24.04, and the three-weeks RSI is set at 36.08 for Magnite Inc. [MGNI]. The present Moving Average for the last 50 days of trading for this stock 7.01, while it was recorded at 6.25 for the last single week of trading, and 9.85 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 $509 million, or 66.70% of MGNI stock, in the hands of institutional investors. The top three institutional holders of MGNI stocks are: VANGUARD GROUP INC with ownership of 11,827,551, which is approximately -0.466% of the company’s market cap and around 3.60% of the total institutional ownership; GRANAHAN INVESTMENT MANAGEMENT, LLC, holding 9,499,258 shares of the stock with an approximate value of $54.91 million in MGNI stocks shares; and BLACKROCK INC., currently with $50.41 million in MGNI stock with ownership of nearly 4.932% of the company’s market capitalization.
Positions in Magnite Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 106 institutional holders increased their position in Magnite Inc. [NASDAQ:MGNI] by around 10,919,558 shares. Additionally, 113 investors decreased positions by around 11,548,128 shares, while 43 investors held positions by with 65,662,204 shares. The mentioned changes placed institutional holdings at 88,129,890 shares, according to the latest SEC report filing. MGNI stock had 29 new institutional investments in for a total of 2,069,968 shares, while 34 institutional investors sold positions of 3,020,838 shares during the same period.