Analyst Scoreboard: 7 Ratings For Magnite

During the last three months, 7 analysts shared their evaluations of Magnite MGNI, revealing diverse outlooks from bullish to bearish.

The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.

Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $19.43, with a high estimate of $21.00 and a low estimate of $15.00. This current average reflects an increase of 6.0% from the previous average price target of $18.33.

Exploring Analyst Ratings: An In-Depth Overview

An in-depth analysis of recent analyst actions unveils how financial experts perceive Magnite. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.

Key Insights:

• Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Magnite. This information offers a snapshot of how analysts perceive the current state of the company.
• Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Magnite compared to the broader market.
• Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Magnite's stock. This examination reveals shifts in analysts' expectations over time.

For valuable insights into Magnite's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using 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.

Key Indicators: Magnite's Financial Health

Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.

Revenue Growth: Magnite displayed positive results in 3 months. As of 30 June, 2024, the company achieved a solid revenue growth rate of approximately 6.78%. This indicates a notable increase in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Communication Services sector.

Net Margin: Magnite's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive -0.66% net margin, the company effectively manages costs and achieves strong profitability.

Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of -0.15%, the company showcases effective utilization of equity capital.

Return on Assets (ROA): Magnite's ROA excels beyond industry benchmarks, reaching -0.04%. This signifies efficient management of assets and strong financial health.

Debt Management: Magnite's debt-to-equity ratio is below the industry average. With a ratio of 0.87, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.

The Core of Analyst Ratings: What Every Investor Should Know

Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter.

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.

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