Magnite, Inc. (NASDAQ:MGNI – Get Free Report) CEO Michael Barrett sold 293,968 shares of Magnite stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $22.72, for a total transaction of $6,678,952.96. Following the sale, the chief executive officer directly owned 403,074 shares in the company, valued at $9,157,841.28. This trade represents a 42.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Magnite Price Performance
NASDAQ:MGNI traded up $0.40 on Friday, hitting $24.72. The company had a trading volume of 4,030,807 shares, compared to its average volume of 2,586,771. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 1.05 and a beta of 2.26. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.38. The firm has a 50 day moving average of $18.69 and a two-hundred day moving average of $14.94. Magnite, Inc. has a 52 week low of $10.82 and a 52 week high of $26.65.
Magnite (NASDAQ:MGNI – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. Magnite had a return on equity of 9.47% and a net margin of 22.49%.The business had revenue of $192.82 million during the quarter, compared to analysts’ expectations of $179.15 million. During the same quarter in the prior year, the firm earned $0.20 EPS. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, research analysts anticipate that Magnite, Inc. will post 0.55 earnings per share for the current year.
Hedge Funds Weigh In On Magnite
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on MGNI shares. B. Riley Financial upped their target price on Magnite from $20.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday. Rosenblatt Securities raised their price objective on Magnite from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday. Needham & Company LLC restated a “buy” rating and set a $25.00 price objective on shares of Magnite in a report on Thursday, April 16th. Benchmark upped their target price on Magnite from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Weiss Ratings upgraded Magnite from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Magnite has a consensus rating of “Moderate Buy” and a consensus price target of $28.30.
Check Out Our Latest Stock Report on Magnite
Key Headlines Impacting Magnite
Here are the key news stories impacting Magnite this week:
- Positive Sentiment: Better-than-expected Q2 results: Magnite reported adjusted earnings of $0.26 per share, exceeding the $0.24 consensus estimate, while revenue rose 11.3% year over year to $192.82 million, well above the $179.15 million forecast. Magnite earnings report
- Positive Sentiment: Higher outlook: The company raised its full-year 2026 forecast to 13%-14% contribution ex-TAC growth and at least a 37% adjusted EBITDA margin. Magnite also guided third-quarter revenue to $188 million-$192 million, above the $185.2 million analyst consensus. Magnite raises 2026 outlook
- Positive Sentiment: Analyst optimism and CTV focus: Following the earnings beat, Rosenblatt raised its price target to $40 and maintained a buy rating, while Susquehanna lifted its target to $30 with a positive rating and B. Riley raised its target to $27 with a buy rating. Coverage also highlighted connected TV growth as an important catalyst. Magnite analyst forecast increases
- Neutral Sentiment: Ad-tech peer read-through: Magnite held firm while Trade Desk fell sharply after its earnings report, suggesting investors are distinguishing between stronger and weaker companies in the digital advertising sector. Ad-tech stock comparison
- Negative Sentiment: Valuation caution: Wells Fargo raised its price target modestly to $22 but retained an equal-weight rating. The target remains below Magnite’s current trading level, signaling limited near-term upside in that analyst’s view. Wells Fargo Magnite price target
About Magnite
Magnite, Inc (NASDAQ: MGNI) operates as an independent sell-side advertising platform that enables publishers and digital media owners to monetize their inventory through programmatic advertising. Formed in 2020 through the merger of Rubicon Project and Telaria, Magnite combines technologies for desktop, mobile, connected television (CTV) and digital out-of-home (DOOH) ad exchanges. The company provides an end-to-end solution designed to help media owners optimize yield across open marketplaces, private marketplaces and programmatic guaranteed deals.
At the core of Magnite’s offering is its supply-side platform (SSP), which connects publishers’ ad impressions to demand-side platforms (DSPs) through real-time bidding (RTB).
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