The stock of Magnite Inc (NASDAQ:MGNI) last traded at $19.14, up 6.54% from the previous session.
MGNI stock price is now 14.56% away from the 50-day moving average and 38.68% away from the 200-day moving average. The market capitalization of the company currently stands at $2.69B.
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With the price target enhanced from $17 to $20, Needham maintained Buy rating for Magnite Inc (NASDAQ: MGNI). On December 05, 2024, Scotiabank recently initiated its ‘Sector Outperform’ rating on the stock quoting a target price of $22, while ‘Wells Fargo’ rates the stock as ‘Equal Weight’
In other news, DAVID DAY, Officer bought 13,245 shares of the company’s stock on Feb 06 ’25. The stock was bought for $243,046 at an average price of $18.35. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 03 ’25, CHIEF FINANCIAL OFFICER Day David sold 13,345 shares of the business’s stock. A total of $226,865 was realized by selling the stock at an average price of $17.00. This leaves the insider owning 374,014 shares of the company worth $7.16 million. A total of 3.49% of the company’s stock is owned by insiders.
During the past 12 months, Magnite Inc has had a low of $8.38 and a high of $18.38. As of last week, the company has a debt-to-equity ratio of 0.85, a current ratio of 1.11, and a quick ratio of 1.11. According to the stock market information, the enterprise value for the company is $2758877696, which is based on a 166.58 price-to-earnings ratio, a 5.75 price-to-earnings-growth ratio, and a beta of 2.78. The fifty day moving average price for MGNI is $16.6556 and a two-hundred day moving average price translates $13.7487 for the stock.
The latest earnings results from Magnite Inc (NASDAQ: MGNI) was released for 2024-09-30. The net profit margin was 2.62% and return on equity was 2.51% for MGNI. The company reported revenue of $162.0 million for the quarter, compared to $150.09 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 7.94 percent.
