Magnite (NASDAQ:MGNI) Announces Earnings Results

Magnite (NASDAQ:MGNI) announced its quarterly earnings data on Wednesday. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.14), Zacks reports. Magnite had a net margin of 2.62% and a return on equity of 4.64%. Magnite updated its Q1 2025 guidance to EPS.

Magnite Stock Performance

Shares of NASDAQ:MGNI traded down $0.50 during trading on Wednesday, reaching $16.86. 3,192,787 shares of the stock were exchanged, compared to its average volume of 2,362,034. Magnite has a 12 month low of $8.38 and a 12 month high of $21.29. The firm has a market cap of $2.37 billion, a PE ratio of 281.00, a PEG ratio of 1.00 and a beta of 2.52. The stock has a 50-day moving average price of $17.27 and a 200-day moving average price of $15.16. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MGNI. Macquarie reiterated an “outperform” rating and issued a $18.00 price target on shares of Magnite in a report on Friday, November 8th. Scotiabank initiated coverage on Magnite in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $22.00 price target on the stock. Wells Fargo & Company lifted their price target on Magnite from $13.00 to $15.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price target on shares of Magnite in a research note on Friday, January 17th. Finally, Royal Bank of Canada raised their price objective on Magnite from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Magnite currently has a consensus rating of “Moderate Buy” and an average target price of $18.35.

Insider Transactions at Magnite

In other news, CTO David Buonasera sold 1,969 shares of Magnite stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $16.31, for a total value of $32,114.39. Following the completion of the sale, the chief technology officer now directly owns 223,795 shares in the company, valued at approximately $3,650,096.45. The trade was a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sean Patrick Buckley sold 18,693 shares of Magnite stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $20.00, for a total transaction of $373,860.00. Following the completion of the sale, the insider now owns 408,529 shares of the company’s stock, valued at approximately $8,170,580. The trade was a 4.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 398,110 shares of company stock worth $7,418,043 over the last quarter. Company insiders own 4.30% of the company’s stock.

Magnite Company Profile

Magnite, Inc, together with its subsidiaries, operates an independent omni-channel sell-side advertising platform in the United States and internationally. The company’s platform offers applications and services for sellers of digital advertising inventory or publishers that own and operate CTV channels, applications, websites, and other digital media properties to manage and monetize their inventory; and applications and services for buyers, including advertisers, agencies, agency trading desks, and demand side platforms to buy digital advertising inventory, as well as an independent marketplace that connects buyers and sellers.