Magnite Inc [NASDAQ: MGNI] slipped around -1.49 points on Tuesday, while shares priced at $12.36 at the close of the session, down -10.76%.
Compared to the average trading volume of 1.75M shares, MGNI reached a trading volume of 7384663 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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What do top market gurus say 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 $17.50 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 1.00. 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.
Lake Street have made an estimate for Magnite Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 25, 2024. While these analysts kept the previous recommendation, Wolfe Research raised their target price to Outperform. The new note on the price target was released on July 16, 2024, representing the official price target for Magnite Inc stock. Previously, the target price had yet another raise from $13 to $15, while BofA Securities kept a Buy rating on MGNI stock.
The Average True Range (ATR) for Magnite Inc is set at 0.73, with the Price to Sales ratio for MGNI stock in the period of the last 12 months amounting to 2.69. The Price to Book ratio for the last quarter was 2.45, with the Price to Cash per share for the same quarter was set at 2.31. Price to Free Cash Flow for MGNI in the course of the last twelve months was 10.19 with Quick ratio for the last quarter at 1.10.
How has MGNI stock performed recently?
Magnite Inc [MGNI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.15. With this latest performance, MGNI shares dropped by -10.37% in over the last four-week period, additionally plugging by 22.13% over the last 6 months – not to mention a rise of 63.93% 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 39.96, with the RSI for the last a single of trading hit 36.18, and the three-weeks RSI is set at 42.54 for Magnite Inc [MGNI]. The present Moving Average for the last 50 days of trading for this stock 13.41, while it was recorded at 13.19 for the last single week of trading, and 11.44 for the last 200 days.
Magnite Inc [MGNI]: Deeper insight into the fundamentals
Magnite Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.
Earnings analysis for Magnite Inc [MGNI]
With the latest financial reports released by the company, Magnite Inc posted 0.12/share EPS, while the average EPS was predicted by analysts to be reported at 0.08/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 0.04. 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.
Insider trade positions for Magnite Inc [MGNI]
There are presently around $75.19%, or 84.31%% of MGNI stock, in the hands of institutional investors. The top three institutional holders of MGNI stocks are: VANGUARD GROUP INC with ownership of 12.96 million shares, which is approximately 9.3069%. BLACKROCK INC., holding 9.7 million shares of the stock with an approximate value of $$128.91 million in MGNI stocks shares; and BLACKROCK INC., currently with $$73.16 million in MGNI stock with ownership which is approximately 3.9517%.
