Magnite Inc (NASDAQ:MGNI) price on current trading day, rose 20.44% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $10.84.
A look at the stock’s price movement, the close in the last trading session was $9.00, moving within a range at $8.8 and $11.29. The beta value (5-Year monthly) was 2.691 while the PE ratio in trailing twelve months stood at 78.15. Turning to its 52-week performance, $21.29 and $8.22 were the 52-week high and 52-week low respectively. Overall, MGNI moved -12.72% over the past month.
Magnite Inc’s market cap currently stands at around $1.55 billion, with investors looking forward to this quarter’s earnings report slated for on 2025-Feb-25.
Analysts have a consensus estimate of 142.18M for the company’s revenue for the quarter, with a low and high estimate of 140.29M and 143.28M respectively. The average forecast suggests up to a 8.91% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 664.87M, representing a 9.54% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that MGNI is a 100% Sell. On the other hand, the stock is on average a Hold as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
10 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 10 recommend MGNI as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
MGNI’s current price about -8.20% and -27.68% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 39.83, while 7-day volatility ratio is 16.61% and 8.18% in the 30-day chart. Further, Magnite Inc (MGNI) has a beta value of 2.65, and an average true range (ATR) of 1.07. Analysts have given the company’s stock an average 52-week price target of $20, forecast between a low of $19 and high of $22. Looking at the price targets, the low is -75.28% off current price level while to achieve the yearly target high, price needs to move -102.95%. Nonetheless, investors will most likely welcome a -84.5% jump to $20 which is the analysts’ median price.
If we refocus on Magnite Inc (NASDAQ:MGNI), historical trading data shows that trading volumes averaged 3.18 over the past 10 days and 2.73 million over the past 3 months. The company’s latest data on shares outstanding shows there are 141.43 million shares.
The 3.20% of Magnite Inc’s shares are in the hands of company insiders while institutional holders own 87.85% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 12.17 million on 2025-03-14, giving us a short ratio of 4.05. The data shows that as of 2025-03-14 short interest in Magnite Inc (MGNI) stood at 869.9999999999999 of shares outstanding, with shares short rising to 10.43 million registered in 2025-02-14. Current price change has pushed the stock -31.91% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the MGNI stock continues to rise going into the next quarter.
