The trading price of Magnite Inc (NASDAQ:MGNI) closed lower on Friday, February 28, and closing at $15.77, -4.71% lower than its previous close.
The company’s P/E ratio in the trailing 12-month period was 113.70. In examining the 52-week price action we see that the stock hit a 52-week high of $21.29 and a 52-week low of $8.38. Over the past month, the stock has lost -10.19% in value.
Magnite Inc, whose market valuation is $2.25 billion at the time of this writing, is expected to release its quarterly earnings report in April. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by 0.06 per share this quarter, however they have predicted annual earnings per share of 0.9 for current year and 1.11 for next year.
Analysts have forecast the company to bring in revenue of 144.14M for the current quarter, with the likely lows of 140.29M and highs of 161.36M. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue is 678.73M.
On the technical side, indicators suggest MGNI has a 50% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Buy, while an average of long term indicators suggests that the stock is currently 50% Buy.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned MGNI a recommendation rating is 10. Out of them, 0 rate it a Hold, while 10 recommend Buy, whereas 0 assign an Overweight rating. 0 analyst(s) have tagged Magnite Inc (MGNI) as Underweight, while 0 advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
A quick review shows that MGNI’s price is currently -14.73% off the SMA20 and -8.48% off the SMA50. The RSI metric on the 14-day chart is currently showing 34.71, and weekly volatility stands at 6.28%. When measured over the past 30 days, the indicator reaches 6.13%. Magnite Inc (NASDAQ:MGNI)’s beta value is currently sitting at 2.77, while the Average True Range indicator is currently displaying 1.09. With analysts defining $19-$22 as the low and high price targets, we arrive at a consensus price target of $20 for the trailing 12-month period. The current price is about -20.48% off the estimated low and -39.51% off the forecast high, based on this estimate. Investors will be thrilled if MGNI’s share price rises to $20, which is the median consensus price. At that level, MGNI’s share price would be -26.82% below current price.
To see how Magnite Inc stock has been performing in comparison to its peers in the industry, here are the numbers: MGNI stock’s performance was -4.71% in the latest trading, and 36.89% in the past year. Magnite Inc has a P/E ratio of 113.70.
An evaluation of the daily trading volume of Magnite Inc (NASDAQ:MGNI) indicates that the 3-month average is 2.07 million.
Currently, records show that 141.43 million of the company’s shares remain outstanding. The insiders hold 3.27% of outstanding shares, whereas institutions hold 87.38%. However, since the stock’s price has seen -0.94% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.
