In the past week, MGNI stock has gone up by 5.88%, with a monthly gain of 44.85% and a quarterly surge of 28.05%. The volatility ratio for the week is 3.19%, and the volatility levels for the last 30 days are 5.55% for Magnite Inc The simple moving average for the past 20 days is 9.77% for MGNI’s stock, with a 41.49% simple moving average for the past 200 days.
Is It Worth Investing in Magnite Inc (NASDAQ: MGNI) Right Now?
The price-to-earnings ratio for Magnite Inc (NASDAQ: MGNI) is above average at 153.80x, Company’s 36-month beta value is 2.51.Analysts have differing opinions on the stock, with 9 analysts rating it as a “buy,” 2 as “overweight,” 1 as “hold,” and 0 as “sell.”
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The public float for MGNI is 136.18M, and currently, short sellers hold a 5.74% ratio of that floaft. The average trading volume of MGNI on December 04, 2024 was 1.90M shares.
MGNI) stock’s latest price update
Magnite Inc (NASDAQ: MGNI)’s stock price has soared by 3.58 in relation to previous closing price of 17.06. Nevertheless, the company has seen a gain of 5.88% in its stock price over the last five trading days. globenewswire.com reported 2024-12-02 that BidLink solution within Magnite’s SpringServe ad server to support WeTV in scaling programmatically BidLink solution within Magnite’s SpringServe ad server to support WeTV in scaling programmatically
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 27.10% 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 -3.86% of loss for the given period.
Volatility was left at 5.55%, however, over the last 30 days, the volatility rate increased by 3.19%, as shares surge +40.32% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +33.18% upper at present.
During the last 5 trading sessions, MGNI rose by +5.09%, which changed the moving average for the period of 200-days by +78.07% in comparison to the 20-day moving average, which settled at $16.09. In addition, Magnite Inc saw 89.20% 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 Buonasera David, who sale 431 shares at the price of $16.78 back on Nov 27 ’24. After this action, Buonasera David now owns 225,764 shares of Magnite Inc, valued at $7,232 using the latest closing price.
BARRETT MICHAEL G., the CEO of Magnite Inc, sale 27,004 shares at $17.63 during a trade that took place back on Nov 25 ’24, which means that BARRETT MICHAEL G. is holding 782,910 shares at $476,081 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 0.43 points at debt to capital in total, while cash flow to debt ratio is standing at 0.38. The debt to equity ratio resting at 0.76. The interest coverage ratio of the stock is 1.55.
Currently, EBITDA for the company is 115.64 million with net debt to EBITDA at 2.33. When we switch over and look at the enterprise to sales, we see a ratio of 4.11. 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.
