After finishing at $10.12 in the prior trading day, Magnite Inc (NASDAQ: MGNI) closed at $10.04, down -0.79%. In other words, the price has decreased by -$0.08 from its previous closing price. On the day, 1324335 shares were traded.
Ratios:
Our goal is to gain a better understanding of MGNI by taking a closer look at its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 4.30 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 7.49. For the most recent quarter (mrq), Quick Ratio is recorded 1.09 and its Current Ratio is at 1.09. In the meantime, Its Debt-to-Equity ratio is 0.86 whereas as Long-Term Debt/Eq ratio is at 0.83.
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:
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 Mar 15 ’24 when BARRETT MICHAEL G. sold 75,000 shares for $11.21 per share. The transaction valued at 840,750 led to the insider holds 1,234,662 shares of the business.
Soroca Adam Lee sold 17,245 shares of MGNI for $195,213 on Mar 14 ’24. The CHIEF PRODUCT OFFICER now owns 493,467 shares after completing the transaction at $11.32 per share. On Nov 15 ’23, another insider, BARRETT MICHAEL G., who serves as the CEO of the company, sold 75,000 shares for $7.80 each. As a result, the insider received 585,000 and left with 1,219,203 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 1.41B and an Enterprise Value of 1.70B. For the stock, the TTM Price-to-Sale (P/S) ratio is 2.27 while its Price-to-Book (P/B) ratio in mrq is 1.98. Its current Enterprise Value per Revenue stands at 2.74 whereas that against EBITDA is 14.66.
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 10.27, while the 200-Day Moving Average is calculated to be 9.76.
Shares Statistics:
The stock has traded on average 1.14M shares per day over the past 3-months and 1.3M shares per day over the last 10 days, according to various share statistics. A total of 138.58M shares are outstanding, with a floating share count of 121.90M. Insiders hold about 12.89% of the company’s shares, while institutions hold 74.59% stake in the company. Shares short for MGNI as of Mar 15, 2024 were 5.94M with a Short Ratio of 5.20, compared to 5.61M on Feb 15, 2024. Therefore, it implies a Short% of Shares Outstanding of 4.24% and a Short% of Float of 4.34%.
Earnings Estimates
Its stock is currently analyzed by 6 different market analysts. On average, analysts expect EPS of $0.01 for the current quarter, with a high estimate of $0.04 and a low estimate of -$0.03, while EPS last year was $0.04. The consensus estimate for the next quarter is $0.15, with high estimates of $0.2 and low estimates of $0.12.
Analysts are recommending an EPS of between $0.95 and $0.67 for the fiscal current year, implying an average EPS of $0.78. EPS for the following year is $0.9, with 5 analysts recommending between $1.07 and $0.79.
Revenue Estimates
8 analysts predict $124.3M in revenue for the current quarter. It ranges from a high estimate of $125M to a low estimate of $123.3M. As of the current estimate, Magnite Inc’s year-ago sales were $116M, an estimated increase of 7.20% from the year-ago figure.
A total of 8 analysts have provided revenue estimates for MGNI’s current fiscal year. The highest revenue estimate was $605M, while the lowest revenue estimate was $597.27M, resulting in an average revenue estimate of $602.15M. In the same quarter a year ago, actual revenue was $549.15M, up 9.70% from the average estimate. Based on 6 analysts’ estimates, the company’s revenue will be $664.33M in the next fiscal year. The high estimate is $682.8M and the low estimate is $656.37M. The average revenue growth estimate for next year is up 10.30% from the average revenue estimate for this year.
