There Is Still Room For Magnite Inc. (MGNI) to Improve Its Value – Let’s Wait for Clarity

The closing price of Magnite Inc. (NASDAQ: MGNI) was $10.53 for the day, down -2.59% from the previous closing price of $10.81. In other words, the price has decreased by -$0.28 from its previous closing price. On the day, 1487964 shares were traded. MGNI stock price reached its highest trading level at $10.89 during the session, while it also had its lowest trading level at $10.20.

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Our analysis of MGNI’s different ratios will help us gain a deeper understanding of the company. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 5.24 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 8.82. For the most recent quarter (mrq), Quick Ratio is recorded 1.20 and its Current Ratio is at 1.20. In the meantime, Its Debt-to-Equity ratio is 0.90 whereas as Long-Term Debt/Eq ratio is at 0.89.

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:

Also, insider trades can serve as a great indicator of what management thinks about the future direction of a stock’s price. A recent insider transaction in this stock occurred on Nov 15 when BARRETT MICHAEL G. sold 75,000 shares for $11.58 per share. The transaction valued at 868,486 led to the insider holds 1,430,236 shares of the business.

Lam Rachel bought 2,500 shares of MGNI for $22,500 on May 11. The Director now owns 186,763 shares after completing the transaction at $9.00 per share. On Apr 06, another insider, Evans Katie Seitz, who serves as the Chief Operating Officer of the company, sold 15,805 shares for $13.13 each. As a result, the insider received 207,520 and left with 393,276 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 2.36 while its Price-to-Book (P/B) ratio in mrq is 1.73.

Stock Price History:

Over the past 52 weeks, MGNI has reached a high of $14.96, while it has fallen to a 52-week low of $5.59. The 50-Day Moving Average of the stock is 10.56, while the 200-Day Moving Average is calculated to be 9.27.

Shares Statistics:

MGNI traded an average of 1.95M shares per day over the past three months and 1.46M shares per day over the past ten days. A total of 133.14M shares are outstanding, with a floating share count of 117.93M. Insiders hold about 2.40% of the company’s shares, while institutions hold 67.40% stake in the company. Shares short for MGNI as of Oct 13, 2022 were 9.74M with a Short Ratio of 8.05M, compared to 8.95M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 7.33% and a Short% of Float of 7.45%.

Earnings Estimates

The firm’s stock currently is rated by 7 analysts. On average, analysts expect EPS of $0.14 for the current quarter, with a high estimate of $0.22 and a low estimate of $0.07, while EPS last year was $0.14. The consensus estimate for the next quarter is $0.32, with high estimates of $0.36 and low estimates of $0.23.

Analysts are recommending an EPS of between $0.79 and $0.56 for the fiscal current year, implying an average EPS of $0.68. EPS for the following year is $0.86, with 7 analysts recommending between $1.11 and $0.51.

Revenue Estimates

It is expected that $90B in revenue will be generated in the current quarter, according to 10 analysts. It ranges from a high estimate of $125.4M to a low estimate of $122.99M. As of the current estimate, Magnite Inc.’s year-ago sales were $114.1M, an estimated increase of 9.00% from the year-ago figure. For the next quarter, 10 analysts are estimating revenue of $152.98M, an increase of 7.70% less than the figure of $9.00% in the same quarter last year. There is a high estimate of $158.91M for the next quarter, whereas the lowest estimate is $145.91M.

A total of 10 analysts have provided revenue estimates for MGNI’s current fiscal year. The highest revenue estimate was $514.7M, while the lowest revenue estimate was $500.27M, resulting in an average revenue estimate of $507.63M. In the same quarter a year ago, actual revenue was $416.5M, up 21.90% from the average estimate. Based on 10 analysts’ estimates, the company’s revenue will be $581.72M in the next fiscal year. The high estimate is $622.83M and the low estimate is $540M. The average revenue growth estimate for next year is up 14.60% from the average revenue estimate for this year.