B. Riley Financial Increases Magnite (NASDAQ:MGNI) Price Target to $27.00

Magnite (NASDAQ:MGNI) had its target price increased by equities researchers at B. Riley Financial from $20.00 to $27.00 in a research report issued on Thursday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the stock. B. Riley Financial’s price objective would indicate a potential upside of 9.22% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. Evercore reaffirmed an “outperform” rating and set a $25.00 price target on shares of Magnite in a research report on Thursday. BTIG Research increased their price target on shares of Magnite from $20.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday. Rosenblatt Securities raised their price target on shares of Magnite from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 target price on shares of Magnite in a research note on Thursday, April 16th. Finally, Weiss Ratings upgraded shares of Magnite from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $28.30.

Magnite Price Performance

Shares of NASDAQ MGNI opened at $24.72 on Thursday. The company has a market cap of $3.54 billion, a PE ratio of 22.68, a P/E/G ratio of 1.24 and a beta of 2.26. Magnite has a fifty-two week low of $10.82 and a fifty-two week high of $26.65. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.02 and a current ratio of 1.02. The business has a 50-day simple moving average of $18.69 and a two-hundred day simple moving average of $14.94.

Magnite (NASDAQ:MGNI) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. Magnite had a net margin of 22.49% and a return on equity of 9.33%. The business had revenue of $192.82 million during the quarter, compared to analysts’ expectations of $179.15 million. During the same quarter last year, the company posted $0.20 earnings per share. The business’s quarterly revenue was up 11.3% on a year-over-year basis. As a group, equities analysts expect that Magnite will post 0.55 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Sean Patrick Buckley sold 67,179 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $24.49, for a total transaction of $1,645,213.71. Following the completion of the sale, the insider directly owned 315,805 shares in the company, valued at approximately $7,734,064.45. This trade represents a 17.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael G. Barrett sold 293,968 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $22.72, for a total transaction of $6,678,952.96. Following the sale, the chief executive officer owned 403,074 shares of the company’s stock, valued at approximately $9,157,841.28. The trade was a 42.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 917,772 shares of company stock worth $18,508,643. 3.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. US Bancorp DE increased its stake in Magnite by 75.8% during the third quarter. US Bancorp DE now owns 1,596 shares of the company’s stock worth $35,000 after acquiring an additional 688 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Magnite by 106.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,783 shares of the company’s stock valued at $45,000 after buying an additional 1,949 shares during the period. Smartleaf Asset Management LLC raised its holdings in Magnite by 98.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,678 shares of the company’s stock valued at $61,000 after buying an additional 1,824 shares during the period. Harbor Investment Advisory LLC acquired a new position in Magnite in the second quarter valued at about $62,000. Finally, Optiver Holding B.V. boosted its stake in Magnite by 2,746.4% during the first quarter. Optiver Holding B.V. now owns 5,579 shares of the company’s stock worth $66,000 after buying an additional 5,383 shares during the period. 73.40% of the stock is currently owned by institutional investors and hedge funds.

Magnite News Roundup

Here are the key news stories impacting Magnite this week:

• Positive Sentiment: Better-than-expected Q2 results: Magnite reported adjusted earnings of $0.26 per share, exceeding the $0.24 consensus estimate, while revenue rose 11.3% year over year to $192.82 million, well above the $179.15 million forecast. Magnite earnings report
• Positive Sentiment: Higher outlook: The company raised its full-year 2026 forecast to 13%-14% contribution ex-TAC growth and at least a 37% adjusted EBITDA margin. Magnite also guided third-quarter revenue to $188 million-$192 million, above the $185.2 million analyst consensus. Magnite raises 2026 outlook
• Positive Sentiment: Analyst optimism and CTV focus: Following the earnings beat, Rosenblatt raised its price target to $40 and maintained a buy rating, while Susquehanna lifted its target to $30 with a positive rating and B. Riley raised its target to $27 with a buy rating. Coverage also highlighted connected TV growth as an important catalyst. Magnite analyst forecast increases
• Neutral Sentiment: Ad-tech peer read-through: Magnite held firm while Trade Desk fell sharply after its earnings report, suggesting investors are distinguishing between stronger and weaker companies in the digital advertising sector. Ad-tech stock comparison
• Negative Sentiment: Valuation caution: Wells Fargo raised its price target modestly to $22 but retained an equal-weight rating. The target remains below Magnite’s current trading level, signaling limited near-term upside in that analyst’s view. Wells Fargo Magnite price target

About Magnite

Magnite, Inc (NASDAQ: MGNI) operates as an independent sell-side advertising platform that enables publishers and digital media owners to monetize their inventory through programmatic advertising. Formed in 2020 through the merger of Rubicon Project and Telaria, Magnite combines technologies for desktop, mobile, connected television (CTV) and digital out-of-home (DOOH) ad exchanges. The company provides an end-to-end solution designed to help media owners optimize yield across open marketplaces, private marketplaces and programmatic guaranteed deals.

At the core of Magnite’s offering is its supply-side platform (SSP), which connects publishers’ ad impressions to demand-side platforms (DSPs) through real-time bidding (RTB).