The closing price of Magnite Inc (NASDAQ: MGNI) was $12.02 for the day, up 14.80% from the previous closing price of $10.47. In other words, the price has increased by $+1.55 from its previous closing price. On the day, 3452500 shares were traded. MGNI stock price reached its highest trading level at $12.09 during the session, while it also had its lowest trading level at $10.91.
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Ratios:
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 5.34 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 9.00. For the most recent quarter (mrq), Quick Ratio is recorded 1.12 and its Current Ratio is at 1.12. In the meantime, Its Debt-to-Equity ratio is 1.04 whereas as Long-Term Debt/Eq ratio is at 1.01.
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, BofA Securities on January 11, 2024, initiated with a Neutral rating and assigned the stock a target price of $11.
On August 16, 2023, Evercore ISI Upgraded its rating to Outperform which previously was In-line and also upped its target price recommendation from $11 to $14.
On April 13, 2023, B. Riley Securities started tracking the stock assigning a Buy rating and target price of $15.B. Riley Securities initiated its Buy rating on April 13, 2023, with a $15 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 $7.80 per share. The transaction valued at 585,000 led to the insider holds 1,219,203 shares of the business.
Buonasera David sold 5,444 shares of MGNI for $46,710 on Sep 06. The Chief Technology Officer now owns 207,246 shares after completing the transaction at $8.58 per share. On Aug 22, another insider, Spillane Robert F, who serves as the Director of the company, sold 25,000 shares for $8.05 each. As a result, the insider received 201,250 and left with 94,090 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, MGNI now has a Market Capitalization of 1.44B and an Enterprise Value of 1.81B. For the stock, the TTM Price-to-Sale (P/S) ratio is 2.72 while its Price-to-Book (P/B) ratio in mrq is 2.54. Its current Enterprise Value per Revenue stands at 2.98 whereas that against EBITDA is 17.28.
Stock Price History:
Over the past 52 weeks, MGNI has reached a high of $15.73, while it has fallen to a 52-week low of $6.28. The 50-Day Moving Average of the stock is 9.38, while the 200-Day Moving Average is calculated to be 9.92.
Shares Statistics:
MGNI traded an average of 1.01M shares per day over the past three months and 1.48M shares per day over the past ten days. A total of 134.01M shares are outstanding, with a floating share count of 119.99M. Insiders hold about 12.96% of the company’s shares, while institutions hold 76.04% stake in the company. Shares short for MGNI as of Feb 15, 2024 were 5.61M with a Short Ratio of 5.55, compared to 6.96M on Jan 12, 2024. Therefore, it implies a Short% of Shares Outstanding of 4.07% and a Short% of Float of 4.17%.
Earnings Estimates
The firm’s stock currently is rated by 7 analysts. On average, analysts expect EPS of $0.27 for the current quarter, with a high estimate of $0.32 and a low estimate of $0.24, while EPS last year was $0.24. The consensus estimate for the next quarter is $0.01, with high estimates of $0.06 and low estimates of -$0.05.
Analysts are recommending an EPS of between $0.58 and $0.49 for the fiscal current year, implying an average EPS of $0.53. EPS for the following year is $0.73, with 6 analysts recommending between $0.92 and $0.55.
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 $161.65M to a low estimate of $159.04M. As of the current estimate, Magnite Inc’s year-ago sales were $156.62M, an estimated increase of 19.40% from the year-ago figure. For the next quarter, 8 analysts are estimating revenue of $119.43M, an increase of 3.00% less than the figure of $19.40% in the same quarter last year. There is a high estimate of $124M for the next quarter, whereas the lowest estimate is $115M.
A total of 10 analysts have provided revenue estimates for MGNI’s current fiscal year. The highest revenue estimate was $545.6M, while the lowest revenue estimate was $542.91M, resulting in an average revenue estimate of $619.71M. In the same quarter a year ago, actual revenue was $514.62M, up 20.40% from the average estimate. Based on 9 analysts’ estimates, the company’s revenue will be $589.43M in the next fiscal year. The high estimate is $605M and the low estimate is $578.51M. The average revenue growth estimate for next year is down -4.90% from the average revenue estimate for this year.
