Magnite (NASDAQ:MGNI) has been analyzed by 7 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 4 | 2 | 1 | 0 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 0 | 1 | 0 | 0 | 0 |
| 2M Ago | 0 | 0 | 1 | 0 | 0 |
| 3M Ago | 3 | 1 | 0 | 0 | 0 |
Insights from analysts' 12-month price targets are revealed, presenting an average target of $18.14, a high estimate of $21.00, and a low estimate of $13.00. A decline of 1.95% from the prior average price target is evident in the current average.
Exploring Analyst Ratings: An In-Depth Overview
A clear picture of Magnite's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Laura Martin | Needham | Raises | Buy | $20.00 | $17.00 |
| Tim Nollen | Macquarie | Maintains | Outperform | $18.00 | $18.00 |
| Alec Brondolo | Wells Fargo | Announces | Equal-Weight | $13.00 | - |
| Daniel Kurnos | Benchmark | Maintains | Buy | $21.00 | $21.00 |
| Laura Martin | Needham | Maintains | Buy | $15.00 | $15.00 |
| Matthew Hedberg | RBC Capital | Maintains | Outperform | $19.00 | $19.00 |
| Daniel Kurnos | Benchmark | Maintains | Buy | $21.00 | $21.00 |
Key Insights:
- Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Magnite. This information offers a snapshot of how analysts perceive the current state of the company.
- Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Magnite compared to the broader market.
- Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Magnite's stock. This comparison reveals trends in analysts' expectations over time.
To gain a panoramic view of Magnite's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
Stay up to date on Magnite analyst ratings.
All You Need to Know About Magnite
Magnite is one of the largest supply-side platform providers, or SSP, in online advertising. The firm was previously named The Rubicon Project (an online ad exchange) and became Magnite after merging with Telaria (an SSP focused mainly on streaming video providers) in 2020. The firm also purchased another of the leading SSPs within the CTV market, SpotX, in 2021 for $1.2 billion, cementing its long-term focus on grabbing market share in this area. The firm generates nearly 45% of its revenue from the programmatic sale of CTV ad inventory, 35% from mobile online sites and apps, and the remaining from websites accessed via computer.
Magnite: A Financial Overview
Market Capitalization Analysis: Positioned below industry benchmarks, the company's market capitalization faces constraints in size. This could be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: Magnite's revenue growth over a period of 3 months has been noteworthy. As of 30 September, 2024, the company achieved a revenue growth rate of approximately 7.94%. This indicates a substantial increase in the company's top-line earnings. When compared to others in the Communication Services sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Magnite's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 3.22% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Magnite's ROE stands out, surpassing industry averages. With an impressive ROE of 0.72%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 0.19%, the company showcases effective utilization of assets.
Debt Management: Magnite's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.85.
Analyst Ratings: What Are They?
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.
