During the last session, Magnite Inc (NASDAQ:MGNI)’s traded shares were 2.32 million, with the beta value of the company hitting 2.65. At the end of the trading day, the stock’s price was $12.74, reflecting an intraday loss of -5.84% or -$0.79. The 52-week high for the MGNI share is $21.29, that puts it down -67.11 from that peak though still a striking 34.22% gain since the share price plummeted to a 52-week low of $8.38. The company’s market capitalization is $1.82B, and the average intraday trading volume over the past 10 days was 2.58 million shares, and the average trade volume was 2.49 million shares over the past three months.
Magnite Inc (MGNI) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.17. MGNI has a Sell rating from 0 analyst(s) out of 10 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 10 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be 0.06.
Magnite Inc (NASDAQ:MGNI) trade information
Magnite Inc (MGNI) registered a -5.84% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -5.84% in intraday trading to $12.74, hitting a weekly high. The stock’s 5-day price performance is -4.71%, and it has moved by -26.61% in 30 days. Based on these gigs, the overall price performance for the year is 21.22%. The short interest in Magnite Inc (NASDAQ:MGNI) is 12.17 million shares and it means that shorts have 4.05 day(s) to cover.
The consensus price target of analysts on Wall Street is $20, which implies an increase of 36.3% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $19 and $22 respectively. As a result, MGNI is trading at a discount of -72.68% off the target high and -49.14% off the low.
Magnite Inc (MGNI) estimates and forecasts
In the rating firms’ projections, revenue will increase 10.40% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 142.18M as predicted by 8 analyst(s). Meanwhile, a consensus of 8 analyst(s) estimates revenue growth to 161.32M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 130.55M and 146.76M respectively. In this case, analysts expect current quarter sales to grow by 8.91% and then jump by 9.92% in the coming quarter.
While earnings are projected to return 29.40% in 2025.
MGNI Dividends
Magnite Inc is due to release its next quarterly earnings on 2025-Feb-25. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Magnite Inc (NASDAQ:MGNI)’s Major holders
Magnite Inc insiders own 1.90% of total outstanding shares while institutional holders control 89.26%, with the float percentage being 90.99%. VANGUARD GROUP INC is the largest shareholder of the company, while 401.0 institutions own stock in it. As of 2024-06-30, the company held over 12.96 million shares (or 9.3069% of all shares), a total value of $172.3 million in shares.
The next largest institutional holding, with 9.7 million shares, is of BLACKROCK INC.’s that is approximately 6.9011% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $128.91 million.
