The Analyst Verdict: Magnite In The Eyes Of 12 Experts

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In the last three months, 12 analysts have published ratings on Magnite MGNI, offering a diverse range of perspectives from bullish to bearish.

The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.

Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish
Total Ratings 9 3 0 0 0
Last 30D 0 1 0 0 0
1M Ago 6 2 0 0 0
2M Ago 1 0 0 0 0
3M Ago 2 0 0 0 0

Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $16.12, with a high estimate of $20.00 and a low estimate of $14.00. This upward trend is apparent, with the current average reflecting a 4.81% increase from the previous average price target of $15.38.

Deciphering Analyst Ratings: An In-Depth Analysis

The analysis of recent analyst actions sheds light on the perception of Magnite by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.

Analyst Analyst Firm Action Taken Rating Current Price Target Prior Price Target
Matthew Hedberg RBC Capital Raises Outperform $19.00 $17.00
Mark Mahaney Evercore ISI Group Raises Outperform $15.00 $13.00
Omar Dessouky B of A Securities Raises Buy $15.00 $13.00
Laura Martin Needham Maintains Buy $15.00 $15.00
Daniel Kurnos Benchmark Maintains Buy $18.00 $18.00
Laura Martin Needham Maintains Buy $15.00 $15.00
Shyam Patil Susquehanna Maintains Positive $14.00 $14.00
Jason Kreyer Craig-Hallum Raises Buy $20.00 $18.00
Laura Martin Needham Maintains Buy $15.00 -
Daniel Day B. Riley Securities Announces Buy $14.50 -
Daniel Kurnos Benchmark Maintains Buy $18.00 -
Laura Martin Needham Maintains Buy $15.00 -

Key Insights:

  • Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Magnite. This offers insight into analysts' perspectives on the current state of the company.
  • Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Magnite compared to the broader market.
  • Price Targets: Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.

Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Magnite's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.

Stay up to date on Magnite analyst ratings.

If you are interested in following small-cap stock news and performance you can start by tracking it here.

All You Need to Know About Magnite

Magnite is one of the largest supply-side platform providers, or SSP, in online advertising. The firm was previously named The Rubicon Project (an online ad exchange) and became Magnite after merging with Telaria (an SSP focused mainly on streaming video providers) in 2020. The firm also purchased another of the leading SSPs within the CTV market, SpotX, in 2021 for $1.2 billion, cementing its long-term focus on grabbing market share in this area. The firm generates nearly 45% of its revenue from the programmatic sale of CTV ad inventory, 35% from mobile online sites and apps, and the remaining from websites accessed via computer.

Key Indicators: Magnite's Financial Health

Market Capitalization Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.

Positive Revenue Trend: Examining Magnite's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 14.73% as of 31 March, 2024, showcasing a substantial increase in top-line earnings. When compared to others in the Communication Services sector, the company excelled with a growth rate higher than the average among peers.

Net Margin: Magnite's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of -11.89%, the company may encounter challenges in effective cost control.

Return on Equity (ROE): Magnite's ROE lags behind industry averages, suggesting challenges in maximizing returns on equity capital. With an ROE of -2.54%, the company may face hurdles in achieving optimal financial performance.

Return on Assets (ROA): Magnite's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of -0.69%, the company may face hurdles in achieving optimal financial returns.

Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.9.

Analyst Ratings: Simplified

Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.

Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

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