BTIG Research reiterated their buy rating on shares of Magnite (NASDAQ:MGNI – Free Report) in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has a $27.00 price objective on the stock.
A number of other research firms have also recently commented on MGNI. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Magnite in a research note on Friday, August 7th. Needham & Company LLC boosted their price objective on Magnite from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. B. Riley Financial upped their price objective on Magnite from $20.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Royal Bank Of Canada upped their price objective on Magnite from $20.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Finally, Scotiabank reiterated an “outperform” rating and issued a $27.00 target price on shares of Magnite in a research note on Thursday, August 6th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $28.80.
Check Out Our Latest Stock Analysis on Magnite
Magnite Price Performance
Magnite (NASDAQ:MGNI – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.24 by $0.02. The company had revenue of $192.82 million for the quarter, compared to the consensus estimate of $179.15 million. Magnite had a net margin of 22.49% and a return on equity of 9.33%. The firm’s revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.20 EPS. As a group, equities research analysts forecast that Magnite will post 0.61 EPS for the current year.
Insider Buying and Selling at Magnite
In other news, insider Katie Evans sold 32,285 shares of Magnite stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $23.63, for a total transaction of $762,894.55. Following the completion of the sale, the insider owned 466,897 shares of the company’s stock, valued at approximately $11,032,776.11. The trade was a 6.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Douglas Knopper sold 37,337 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $18.10, for a total value of $675,799.70. Following the completion of the sale, the director owned 125,810 shares of the company’s stock, valued at $2,277,161. The trade was a 22.89% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 1,070,092 shares of company stock valued at $22,407,430. 3.20% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Magnite
A number of hedge funds and other institutional investors have recently made changes to their positions in MGNI. Nykredit A S bought a new stake in shares of Magnite in the second quarter valued at about $25,000. EFG International AG purchased a new stake in Magnite in the second quarter worth about $28,000. Allworth Financial LP bought a new position in Magnite during the 2nd quarter worth about $30,000. US Bancorp DE increased its position in Magnite by 75.8% during the 3rd quarter. US Bancorp DE now owns 1,596 shares of the company’s stock valued at $35,000 after purchasing an additional 688 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in Magnite by 45.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,428 shares of the company’s stock valued at $53,000 after purchasing an additional 755 shares during the period. Institutional investors own 73.40% of the company’s stock.
Trending Headlines about Magnite
Here are the key news stories impacting Magnite this week:
- Positive Sentiment: Magnite and ITN expanded their partnership to introduce an agentic-AI solution through Magnite Orchestration for local linear television advertising. The platform is designed to reduce local TV campaign-buying timelines from weeks to hours, potentially increasing advertiser adoption, transaction volumes and Magnite’s role in programmatic TV. Magnite and ITN Expand Partnership to Introduce Agentic AI Solution for Local Linear TV
- Positive Sentiment: The ITN announcement strengthens Magnite’s connected-TV and local-TV growth narrative by adding automation and artificial intelligence to its advertising infrastructure. Investors may view the initiative as a potential long-term catalyst, although the company has not disclosed an immediate financial impact.
- Neutral Sentiment: Magnite’s latest reported quarter showed adjusted earnings of $0.26 per share versus the $0.24 consensus estimate and revenue of $192.82 million versus expectations of $179.15 million. Revenue grew 11.3% year over year, providing fundamental support for the stock, though these results were released before the current news window.
- Neutral Sentiment: Recent analyst commentary remains generally favorable, with BTIG maintaining a Buy rating and a $27 price target and Needham assigning a $30 target. The consensus target of $28.80 suggests analysts see additional upside, but these views are not new earnings guidance.
- Negative Sentiment: Magnite insiders sold a combined 102,382 shares for approximately $2.41 million across September 8–11. The sales included 40,000 shares from Aaron Saltz, 5,000 from director Paul Caine and multiple transactions totaling 57,382 shares from Katie Evans. Each transaction was executed under a pre-arranged Rule 10b5-1 plan, reducing the strength of the bearish signal, but the volume of selling could weigh on investor confidence. SEC insider transaction filing
About Magnite
Magnite, Inc is an independent sell-side advertising technology company that operates a global platform for digital media owners and app developers. Its technology helps publishers and media companies manage, package, sell and optimize advertising inventory across connected television (CTV), online video, mobile, desktop, audio and digital out-of-home channels.
Magnite’s platform connects publishers with agencies, brands and demand-side platforms, supporting automated, data-driven programmatic advertising transactions.
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