Rosenblatt Securities Reiterates “Buy” Rating for Magnite (NASDAQ:MGNI)

Magnite (NASDAQ:MGNI)‘s stock had its “buy” rating restated by stock analysts at Rosenblatt Securities in a research note issued on Thursday,Benzinga reports. They presently have a $39.00 price objective on the stock. Rosenblatt Securities’ target price would indicate a potential upside of 158.28% from the company’s previous close.

MGNI has been the topic of a number of other reports. Wells Fargo & Company dropped their price target on shares of Magnite from $24.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, October 6th. Scotiabank reissued an “outperform” rating and set a $30.00 target price (up previously from $22.00) on shares of Magnite in a report on Thursday, August 7th. Benchmark increased their price target on Magnite from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Royal Bank Of Canada lifted their price target on Magnite from $19.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Finally, Needham & Company LLC upped their price objective on Magnite from $18.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.20.

Magnite Stock Performance

Shares of MGNI opened at $15.10 on Thursday. Magnite has a 1 year low of $8.22 and a 1 year high of $26.65. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 52.07, a price-to-earnings-growth ratio of 1.42 and a beta of 3.13. The firm has a fifty day moving average of $20.85 and a 200-day moving average of $20.02.

Magnite (NASDAQ:MGNI) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.20. Magnite had a return on equity of 8.07% and a net margin of 6.30%.The company had revenue of $179.49 million during the quarter, compared to analysts’ expectations of $163.29 million. During the same quarter in the prior year, the business posted $0.17 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. Magnite has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, equities analysts anticipate that Magnite will post 0.33 earnings per share for the current year.

Insider Transactions at Magnite

In other Magnite news, insider Adam Lee Soroca sold 24,986 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $24.69, for a total value of $616,904.34. Following the transaction, the insider owned 346,393 shares in the company, valued at $8,552,443.17. The trade was a 6.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Diane Yu sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $25.23, for a total value of $504,600.00. Following the transaction, the director owned 67,481 shares in the company, valued at approximately $1,702,545.63. This trade represents a 22.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 328,275 shares of company stock worth $7,977,776. 3.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in Magnite by 355.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,517 shares of the company’s stock valued at $37,000 after purchasing an additional 1,184 shares during the period. State of Wyoming acquired a new position in shares of Magnite in the 3rd quarter worth approximately $39,000. CWM LLC boosted its stake in shares of Magnite by 133.6% in the 2nd quarter. CWM LLC now owns 1,775 shares of the company’s stock valued at $43,000 after purchasing an additional 1,015 shares in the last quarter. USA Financial Formulas acquired a new position in Magnite in the third quarter valued at about $40,000. Finally, MCF Advisors LLC increased its holdings in Magnite by 2,100.0% during the 1st quarter. MCF Advisors LLC now owns 2,200 shares of the company’s stock valued at $25,000 after purchasing an additional 2,100 shares in the last quarter. Institutional investors and hedge funds own 73.40% of the company’s stock.

Magnite Company Profile

Magnite, Inc, together with its subsidiaries, operates an independent omni-channel sell-side advertising platform in the United States and internationally. The company’s platform offers applications and services for sellers of digital advertising inventory or publishers that own and operate CTV channels, applications, websites, and other digital media properties to manage and monetize their inventory; and applications and services for buyers, including advertisers, agencies, agency trading desks, and demand side platforms to buy digital advertising inventory, as well as an independent marketplace that connects buyers and sellers.