Magnite Inc. (NASDAQ: MGNI) is -59.83% lower on its value in year-to-date trading and has touched a low of $7.03 and a high of $32.43 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The MGNI stock was last observed hovering at around $7.09 in the last trading session, with the day’s loss setting it -0.06% off its average median price target of $14.25 for the next 12 months. It is also 63.0% off the consensus price target high of $19.00 offered by 10 analysts, but current levels are 29.7% higher than the price target low of $10.00 for the same period.
Currently trading at $7.03, the stock is -7.85% and -14.08% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.1 million and changing -0.85% at the moment leaves the stock -39.29% off its SMA200. MGNI registered -75.24% loss for a year compared to 6-month loss of -48.04%.
The stock witnessed a -15.91% gain in the last 1 month and extending the period to 3 months gives it a -31.61%, and is -6.52% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.97% over the week and 4.73% over the month.
Magnite Inc. (MGNI) has around 876 employees, a market worth around $985.47M and $549.00M in sales. Fwd P/E is 8.03. Profit margin for the company is -17.00%. Distance from 52-week low is 0.07% and -78.32% from its 52-week high. The company has generated returns on investments over the last 12 months (0.90%).
Magnite Inc. (MGNI) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Magnite Inc. (MGNI) is a “Buy”. 10 analysts offering their recommendations for the stock have an average rating of 2.00, where 1 rate it as a Hold and 0 think it is a “Overweight”. 9 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Magnite Inc. is expected to release its quarterly report on 11/03/2022.The EPS is expected to grow by 100.10% this year
Magnite Inc. (MGNI) Top Institutional Holders
The shares outstanding are 132.43M, and float is at 117.47M with Short Float at 7.45%.
Magnite Inc. (MGNI) Insider Activity
A total of 31 insider transactions have happened at Magnite Inc. (MGNI) in the last six months, with sales accounting for 20 and purchases happening 11 times. The most recent transaction is an insider purchase by Lam Rachel, the company’s Director. SEC filings show that Lam Rachel bought 2,500 shares of the company’s common stock on May 11 at a price of $9.00 per share for a total of $22500.0. Following the purchase, the insider now owns 0.19 million shares.
Magnite Inc. disclosed in a document filed with the SEC on Apr 06 that Evans Katie Seitz (Chief Operating Officer) sold a total of 15,805 shares of the company’s common stock. The trade occurred on Apr 06 and was made at $13.13 per share for $0.21 million. Following the transaction, the insider now directly holds 0.39 million shares of the MGNI stock.
Still, SEC filings show that on Mar 03, Lam Rachel (Director) acquired 2,500 shares at an average price of $12.81 for $32025.0. The insider now directly holds 184,263 shares of Magnite Inc. (MGNI).