12 analysts have shared their evaluations of Magnite (NASDAQ:MGNI) during the recent three months, expressing a mix of bullish and bearish perspectives.
The following table summarizes their recent ratings, shedding light on the changing sentiments within 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 | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 1 | 0 | 0 | 0 | 0 |
| 2M Ago | 5 | 3 | 0 | 0 | 0 |
| 3M Ago | 2 | 0 | 0 | 0 | 0 |
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $16.12, a high estimate of $20.00, and a low estimate of $14.00. Witnessing a positive shift, the current average has risen by 3.67% from the previous average price target of $15.55.
Breaking Down Analyst Ratings: A Detailed Examination
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 |
|---|---|---|---|---|---|
| Laura Martin | Needham | Maintains | Buy | $15.00 | $15.00 |
| Daniel Kurnos | Benchmark | Maintains | Buy | $18.00 | $18.00 |
| 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 | $15.00 |
| Daniel Day | B. Riley Securities | Announces | Buy | $14.50 | - |
Key Insights:
- Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Magnite. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Magnite compared to the broader market.
- Price Targets: Delving into movements, analysts provide estimates for the future value of Magnite's stock. This analysis reveals shifts in analysts' expectations over time.
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Magnite's market position. Stay informed and make well-informed decisions with our Ratings Table.
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Discovering Magnite: A Closer Look
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.
Magnite: Delving into Financials
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: Magnite's remarkable performance in 3 months is evident. As of 31 March, 2024, the company achieved an impressive revenue growth rate of 14.73%. This signifies a substantial increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Communication Services sector.
Net Margin: Magnite's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of -11.89%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Magnite's ROE falls below industry averages, indicating challenges in efficiently using equity capital. With an ROE of -2.54%, the company may face hurdles in generating optimal returns for shareholders.
Return on Assets (ROA): Magnite's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive -0.69% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: Magnite's debt-to-equity ratio is below the industry average. With a ratio of 0.9, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
How Are Analyst Ratings Determined?
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in Benzinga Pro.
This article was generated by Benzinga's automated content engine and reviewed by an editor.