Magnite (NASDAQ:MGNI) Reaches New 1-Year High on Strong Earnings

Posted by Francis Steltz on Nov 5th, 2026

Magnite, Inc. (NASDAQ:MGNI – Get Free Report) reached a new 52-week high on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $27.76 and last traded at $26.9290, with a volume of 1,280,081 shares. The stock had previously closed at $22.79.

The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.04. The company had revenue of $204.20 million for the quarter, compared to analysts’ expectations of $190.19 million. Magnite had a return on equity of 9.33% and a net margin of 22.49%. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 earnings per share.

Magnite News Summary

Here are the key news stories impacting Magnite this week:

Positive Sentiment: Q3 non-GAAP EPS was $0.33, above analyst estimates, while revenue of $204.2 million rose 14% year over year. Contribution ex-TAC, a key measure of Magnite’s underlying business, grew 20% to $200.6 million and exceeded the company’s guidance range. Magnite Q3 results
Positive Sentiment: CTV was the standout: contribution ex-TAC from CTV climbed 39% to $105.4 million, also beating guidance. Adjusted EBITDA rose 46% to $83.4 million, with the margin expanding to 42% from 34% a year earlier. Magnite Q3 results
Positive Sentiment: Management raised its 2026 outlook: contribution ex-TAC growth is now expected to be about 17%, adjusted EBITDA growth about 30%, EBITDA margin about 38.5%, and free-cash-flow growth above 60%. Q4 contribution ex-TAC guidance is $227 million to $233 million. Magnite raises 2026 outlook
Positive Sentiment: The company expects 2027 top-line growth to accelerate, forecasting growth above 15% excluding political advertising and a 2027 adjusted EBITDA margin of at least 38.5%. Management cited CTV momentum and a political-advertising boom as growth drivers. Q3 earnings call highlights

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MGNI. Needham & Company LLC increased their price target on shares of Magnite from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Craig Hallum reissued a “buy” rating and set a $32.00 price objective on shares of Magnite in a research note on Thursday, September 17th. Wells Fargo & Company upped their price objective on shares of Magnite from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Evercore restated an “outperform” rating and issued a $25.00 price objective on shares of Magnite in a report on Thursday, August 6th. Finally, Royal Bank Of Canada raised their target price on shares of Magnite from $20.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Magnite currently has a consensus rating of “Moderate Buy” and an average price target of $29.82.

Get Our Latest Analysis on Magnite

Insiders Place Their Bets

In other Magnite news, Director Douglas Knopper sold 37,337 shares of the business’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $26.28, for a total value of $981,216.36. Following the sale, the director directly owned 51,136 shares of the company’s stock, valued at approximately $1,343,854.08. The trade was a 42.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO David Buonasera sold 1,165 shares of the stock in a transaction on Monday, September 14th. The stock was sold at an average price of $24.00, for a total value of $27,960.00. Following the completion of the sale, the chief technology officer directly owned 245,155 shares in the company, valued at approximately $5,883,720. This represents a 0.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 254,126 shares of company stock valued at $6,161,335. Company insiders own 3.20% of the company’s stock.

Institutional Trading of Magnite

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Magnite in the second quarter worth about $241,296,000. Canada Pension Plan Investment Board bought a new position in shares of Magnite in the second quarter worth approximately $56,847,000. Dimensional Fund Advisors LP lifted its stake in shares of Magnite by 10.2% in the first quarter. Dimensional Fund Advisors LP now owns 3,983,674 shares of the company’s stock worth $47,322,000 after buying an additional 367,854 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Magnite during the second quarter valued at approximately $22,431,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Magnite during the second quarter valued at approximately $22,059,000. 73.40% of the stock is owned by hedge funds and other institutional investors.

Magnite Trading Up 17.1%

The stock has a market cap of $3.83 billion, a PE ratio of 24.52, a PEG ratio of 0.73 and a beta of 2.44. The company has a quick ratio of 1.03, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The stock’s fifty day moving average price is $23.90 and its 200 day moving average price is $17.72.

About Magnite

(Get Free Report)

Magnite, Inc operates an independent omnichannel sell-side advertising platform that helps publishers and digital media owners monetize their content while enabling advertisers to reach audiences across multiple channels. Its platform supports the buying and selling of digital advertising inventory through automated auctions and direct transactions.

The company’s solutions serve connected television and streaming video, online display and mobile advertising, audio, and digital out-of-home media.