Magnite Inc. [MGNI] Stock trading around $11.87 per share: What’s Next?

Magnite Inc. [NASDAQ: MGNI] stock went on an upward path that rose over 6.84% on Thursday, amounting to a one-week price increase of more than 11.56%. The company report on November 22, 2022 that Ads on Streaming Platforms Capture More Attention Than Ads on Social Media in India, According to New Magnite Research.

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64% of streamers in India report that they are more receptive to ads on streaming platforms than ads on social media.

Over the last 12 months, MGNI stock dropped by -29.43%. The one-year Magnite Inc. stock forecast points to a potential upside of 13.04. 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 $1.57 billion, with 133.14 million shares outstanding and 117.93 million shares in the current float. Compared to the average trading volume of 1.80M shares, MGNI stock reached a trading volume of 3222214 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 $13.65 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 0.77, with the Price to Sales ratio for MGNI stock in the period of the last 12 months amounting to 2.79. The Price to Book ratio for the last quarter was 1.95, with the Price to Cash per share for the same quarter was set at 1.92. Price to Free Cash Flow for MGNI in the course of the last twelve months was 10.42 with Quick ratio for the last quarter at 1.20.

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 11.56. With this latest performance, MGNI shares gained by 60.19% in over the last four-week period, additionally plugging by 2.68% over the last 6 months – not to mention a drop of -29.43% 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 68.14, with the RSI for the last a single of trading hit 71.22, and the three-weeks RSI is set at 65.78 for Magnite Inc. [MGNI]. The present Moving Average for the last 50 days of trading for this stock 8.00, while it was recorded at 10.69 for the last single week of trading, and 9.65 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 1.20 and a Current Ratio set at 1.20.

Magnite Inc. [MGNI] Insider Position Details

There are presently around $1,231 million, or 67.60% of MGNI stock, in the hands of institutional investors. The top three institutional holders of MGNI stocks are: NUVEEN ASSET MANAGEMENT, LLC with ownership of 17,128,277, which is approximately 554.975% of the company’s market cap and around 3.50% of the total institutional ownership; VANGUARD GROUP INC, holding 12,090,420 shares of the stock with an approximate value of $143.51 million in MGNI stocks shares; and GRANAHAN INVESTMENT MANAGEMENT, LLC, currently with $123.66 million in MGNI stock with ownership of nearly 9.671% 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 104 institutional holders increased their position in Magnite Inc. [NASDAQ:MGNI] by around 25,342,859 shares. Additionally, 105 investors decreased positions by around 9,376,660 shares, while 43 investors held positions by with 68,954,126 shares. The mentioned changes placed institutional holdings at 103,673,645 shares, according to the latest SEC report filing. MGNI stock had 25 new institutional investments in for a total of 3,457,719 shares, while 33 institutional investors sold positions of 3,062,837 shares during the same period.


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