In What Direction Will Magnite Inc.’s (NASDAQ:MGNI) Stock Goes From Here?

Magnite Inc. (NASDAQ: MGNI) closed the day trading at 7.03 down -0.85% from the previous closing price of $7.09. In other words, the price has decreased by $-0.06 from its previous closing price. On the day, 1096429 shares were traded. MGNI reached its highest trading level at $7.36 during the session, while it also had its lowest trading level at $7.01.

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For a better understanding of MGNI, let’s look at its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 4.23 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 6.67. For the most recent quarter (mrq), Quick Ratio is recorded 1.10 and its Current Ratio is at 1.10. In the meantime, Its Debt-to-Equity ratio is 0.88 whereas as Long-Term Debt/Eq ratio is at 0.88.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, The Benchmark Company on July 14, 2022, initiated with a Buy rating and assigned the stock a target price of $18.

On September 22, 2021, Berenberg started tracking the stock assigning a Buy rating and target price of $37.

On August 31, 2021, Macquarie started tracking the stock assigning a Outperform rating and target price of $39.Macquarie initiated its Outperform rating on August 31, 2021, with a $39 target price.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on May 11 when Lam Rachel bought 2,500 shares for $9.00 per share. The transaction valued at 22,500 led to the insider holds 186,763 shares of the business.

Evans Katie Seitz sold 15,805 shares of MGNI for $207,520 on Apr 06. The Chief Operating Officer now owns 393,276 shares after completing the transaction at $13.13 per share. On Mar 03, another insider, Lam Rachel, who serves as the Director of the company, bought 2,500 shares for $12.81 each. As a result, the insider paid 32,025 and bolstered with 184,263 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 1.80 while its Price-to-Book (P/B) ratio in mrq is 1.13.

Stock Price History:

Over the past 52 weeks, MGNI has reached a high of $32.43, while it has fallen to a 52-week low of $7.03. The 50-Day Moving Average of the stock is 8.18, while the 200-Day Moving Average is calculated to be 11.58.

Shares Statistics:

Over the past 3-months, MGNI traded about 1.87M shares per day on average, while over the past 10 days, MGNI traded about 1.24M shares per day. A total of 132.43M shares are outstanding, with a floating share count of 117.47M. Insiders hold about 3.60% of the company’s shares, while institutions hold 67.40% stake in the company. Shares short for MGNI as of Jul 14, 2022 were 9.06M with a Short Ratio of 4.69, compared to 9.94M on Jun 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 6.87% and a Short% of Float of 6.98%.

Earnings Estimates

Current recommendations for the stock of the company come from 7 analysts. On average, analysts expect EPS of $0.17 for the current quarter, with a high estimate of $0.22 and a low estimate of $0.12, while EPS last year was $0.11. The consensus estimate for the next quarter is $0.17, with high estimates of $0.24 and low estimates of $0.1.

Analysts are recommending an EPS of between $0.94 and $0.61 for the fiscal current year, implying an average EPS of $0.8. EPS for the following year is $1.06, with 7 analysts recommending between $1.4 and $0.7.

Revenue Estimates

10 analysts predict $125M in revenue for the current quarter. It ranges from a high estimate of $126.1M to a low estimate of $123.44M. As of the current estimate, Magnite Inc.’s year-ago sales were $100.4M, an estimated increase of 24.50% from the year-ago figure. For the next quarter, 10 analysts are estimating revenue of $133.17M, an increase of 16.70% less than the figure of $24.50% in the same quarter last year. There is a high estimate of $141.1M for the next quarter, whereas the lowest estimate is $126.2M.

A total of 10 analysts have provided revenue estimates for MGNI’s current fiscal year. The highest revenue estimate was $545.7M, while the lowest revenue estimate was $515M, resulting in an average revenue estimate of $531.55M. In the same quarter a year ago, actual revenue was $416.5M, up 27.60% from the average estimate. Based on 10 analysts’ estimates, the company’s revenue will be $634.26M in the next fiscal year. The high estimate is $673.1M and the low estimate is $594.9M. The average revenue growth estimate for next year is up 19.30% from the average revenue estimate for this year.