In Thursday’s Wall Street session, Magnite Inc (NASDAQ:MGNI) shares traded at $11.13, up 12.42% from the previous session.
MGNI stock price is now -21.01% away from the 50-day moving average and -22.84% away from the 200-day moving average. The market capitalization of the company currently stands at $1.59B.
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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, Gephart Brian, CHIEF ACCOUNTING OFFICER sold 6,250 shares of the company’s stock on Mar 03 ’25. The stock was sold for $100,000 at an average price of $16.00. Upon completion of the transaction, the CHIEF ACCOUNTING OFFICER now directly owns 132,909 shares in the company, valued at $1.48 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 03 ’25, CHIEF PRODUCT OFFICER Soroca Adam Lee sold 15,499 shares of the business’s stock. A total of $244,109 was realized by selling the stock at an average price of $15.75. This leaves the insider owning 458,386 shares of the company worth $5.1 million. A total of 3.20% of the company’s stock is owned by insiders.
During the past 12 months, Magnite Inc has had a low of $8.22 and a high of $21.29. As of last week, the company has a debt-to-equity ratio of 0.79, a current ratio of 1.14, and a quick ratio of 1.14. The fifty day moving average price for MGNI is $14.091 and a two-hundred day moving average price translates $14.42545 for the stock.
The latest earnings results from Magnite Inc (NASDAQ: MGNI) was released for 2024-12-31. The net profit margin was 3.41% and return on equity was 3.10% for MGNI. The company reported revenue of $193.97 million for the quarter, compared to $186.93 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 3.76 percent. For the current quarter, analysts expect MGNI to generate $142.38M in revenue.
