The price-to-earnings ratio for Magnite Inc (NASDAQ: MGNI) is above average at 137.68x, Company’s 36-month beta value is 2.44.Analysts have differing opinions on the stock, with 10 analysts rating it as a “buy,” 2 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for MGNI is 123.56M, and currently, short sellers hold a 7.15% ratio of that floaft. The average trading volume of MGNI on November 12, 2024 was 1.68M shares.
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MGNI) stock’s latest price update
The stock price of Magnite Inc (NASDAQ: MGNI) has surged by 16.24 when compared to previous closing price of 13.61, but the company has seen a 29.67% gain in its stock price over the last five trading sessions. zacks.com reported 2024-11-07 that Magnite (MGNI) came out with quarterly earnings of $0.17 per share, beating the Zacks Consensus Estimate of $0.16 per share. This compares to earnings of $0.12 per share a year ago.
MGNI’s Market Performance
MGNI’s stock has risen by 29.67% in the past week, with a monthly rise of 29.25% and a quarterly rise of 26.36%. The volatility ratio for the week is 8.47% while the volatility levels for the last 30 days are 4.66% for Magnite Inc The simple moving average for the last 20 days is 24.61% for MGNI stock, with a simple moving average of 32.82% for the last 200 days.
Analysts’ Opinion of MGNI
Many brokerage firms have already submitted their reports for MGNI stocks, with Wells Fargo repeating the rating for MGNI by listing it as a “Equal Weight.” The predicted price for MGNI in the upcoming period, according to Wells Fargo is $13 based on the research report published on October 29, 2024 of the current year 2024.
Lake Street, on the other hand, stated in their research note that they expect to see MGNI reach a price target of $21. The rating they have provided for MGNI stocks is “Buy” according to the report published on July 25th, 2024.
Wolfe Research gave a rating of “Outperform” to MGNI, setting the target price at $16 in the report published on July 16th of the current year.
MGNI Trading at 23.20% from the 50-Day Moving Average
After a stumble in the market that brought MGNI to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -0.63% of loss for the given period.
Volatility was left at 4.66%, however, over the last 30 days, the volatility rate increased by 8.47%, as shares surge +27.58% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +14.72% upper at present.
During the last 5 trading sessions, MGNI rose by +29.67%, which changed the moving average for the period of 200-days by +72.14% in comparison to the 20-day moving average, which settled at $12.70. In addition, Magnite Inc saw 69.38% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at MGNI starting from Saltz Aaron, who sale 5,112 shares at the price of $13.50 back on Nov 07 ’24. After this action, Saltz Aaron now owns 307,745 shares of Magnite Inc, valued at $69,012 using the latest closing price.
AARON SALTZ, the Officer of Magnite Inc, proposed sale 5,112 shares at $13.50 during a trade that took place back on Nov 07 ’24, which means that AARON SALTZ is holding shares at $69,012 based on the most recent closing price.
Stock Fundamentals for MGNI
Current profitability levels for the company are sitting at:
- 0.07 for the present operating margin
- 0.59 for the gross margin
The net margin for Magnite Inc stands at 0.03. The total capital return value is set at 0.03. Equity return is now at value 2.51, with 0.67 for asset returns.
Based on Magnite Inc (MGNI), the company’s capital structure generated 0.46 points at debt to capital in total, while cash flow to debt ratio is standing at 0.19. The debt to equity ratio resting at 0.85. The interest coverage ratio of the stock is 1.55.
Currently, EBITDA for the company is 93.28 million with net debt to EBITDA at 2.55. When we switch over and look at the enterprise to sales, we see a ratio of 3.72. The receivables turnover for the company is 0.57for trailing twelve months and the total asset turnover is 0.24. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.11.
Conclusion
In a nutshell, Magnite Inc (MGNI) has experienced a better performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
