Magnite (NASDAQ:MGNI) Announces Earnings Results

Magnite (NASDAQ:MGNI) released its quarterly earnings data on Wednesday. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.14), Zacks reports. The business had revenue of $180.20 million during the quarter, compared to the consensus estimate of $183.90 million. Magnite had a return on equity of 4.64% and a net margin of 2.62%. Magnite updated its Q1 2025 guidance to EPS.

Magnite Trading Up 3.1 %

Shares of MGNI traded up $0.52 during midday trading on Thursday, hitting $17.38. 2,149,378 shares of the stock were exchanged, compared to its average volume of 2,353,286. Magnite has a 52-week low of $8.38 and a 52-week high of $21.29. The stock has a fifty day simple moving average of $17.29 and a 200 day simple moving average of $15.17. The firm has a market cap of $2.45 billion, a P/E ratio of 289.57, a P/E/G ratio of 1.00 and a beta of 2.52. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.11 and a current ratio of 1.11.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wells Fargo & Company raised their price objective on Magnite from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Scotiabank initiated coverage on Magnite in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $22.00 price objective for the company. Macquarie restated an “outperform” rating and issued a $18.00 price target on shares of Magnite in a research note on Friday, November 8th. Benchmark boosted their price objective on Magnite from $21.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Royal Bank of Canada boosted their price objective on Magnite from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Magnite has a consensus rating of “Moderate Buy” and a consensus price target of $19.27.

Insider Transactions at Magnite

In other news, CEO Michael G. Barrett sold 147,996 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $17.52, for a total value of $2,592,889.92. Following the sale, the chief executive officer now directly owns 634,914 shares in the company, valued at approximately $11,123,693.28. This trade represents a 18.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sean Patrick Buckley sold 10,527 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $19.13, for a total value of $201,381.51. Following the completion of the sale, the insider now owns 370,558 shares in the company, valued at approximately $7,088,774.54. The trade was a 2.76 % 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 ninety days. 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.