Magnite (NASDAQ:MGNI) Shares Cross Above Fifty Day Moving Average – Here’s What Happened

Magnite, Inc. (NASDAQ:MGNI) passed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $23.98 and traded as high as $28.17. Magnite shares last traded at $27.52, with a volume of 9,698,195 shares changing hands.

Key Stories Impacting Magnite

Here are the key news stories impacting Magnite this week:

• Positive Sentiment: Q3 results beat expectations. Revenue was $204.2 million, up 14% year over year, and non-GAAP EPS was $0.33, above analyst estimates. Contribution ex-TAC rose 20% to $200.6 million, while adjusted EBITDA increased 46% to $83.4 million. Magnite Reports Third Quarter 2026 Results
• Positive Sentiment: Connected TV was a key growth driver. CTV contribution ex-TAC climbed 39% year over year to $105.4 million, exceeding company guidance; digital video and display (DV+) contribution ex-TAC grew 5% to $95.3 million. Magnite: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Magnite raised its 2026 outlook and gave a solid 2027 forecast. It now expects 2026 contribution ex-TAC growth of about 17% and adjusted EBITDA growth of about 30%. For 2027, it forecast at least a 38.5% adjusted EBITDA margin and more than 15% top-line growth excluding political advertising. Q4 contribution ex-TAC is projected at $227 million to $233 million. Magnite raises outlook and signals 2027 margin
• Positive Sentiment: RBC raised its price target to $30 from $27 and maintained an Outperform rating, signaling further potential upside in the bank’s view. RBC Raises Price Target on Magnite
• Negative Sentiment: Wells Fargo’s price target remains below the prevailing share price. Although it raised its target from $22 to $23, it kept an Equal Weight rating, reflecting a more cautious assessment after the stock’s sharp move higher. Wells Fargo price target update

Analysts Set New Price Targets

A number of analysts have recently commented on MGNI shares. Needham & Company LLC boosted their target price on shares of Magnite from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Scotiabank raised their price target on shares of Magnite from $27.00 to $30.00 and gave the company a “sector outperform” rating in a research note on Thursday. Weiss Ratings upgraded Magnite from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 23rd. Susquehanna lifted their price objective on Magnite from $30.00 to $35.00 and gave the stock a “positive” rating in a report on Thursday. Finally, Royal Bank Of Canada boosted their price objective on Magnite from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.45.

Magnite Price Performance

The stock’s fifty day moving average price is $23.98 and its 200-day moving average price is $17.79. The firm has a market cap of $3.95 billion, a PE ratio of 23.13, a price-to-earnings-growth ratio of 0.75 and a beta of 2.44. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.03.

Magnite (NASDAQ:MGNI) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.04. The firm had revenue of $204.20 million for the quarter, compared to the consensus estimate of $190.19 million. Magnite had a net margin of 23.58% and a return on equity of 11.04%. The company’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same period last year, the firm posted $0.20 earnings per share. As a group, equities analysts expect that Magnite, Inc. will post 0.61 EPS for the current fiscal year.

Insider Activity at Magnite

In other Magnite news, insider Katie Evans sold 13,997 shares of the stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $24.00, for a total value of $335,928.00. Following the completion of the sale, the insider owned 441,800 shares in the company, valued at approximately $10,603,200. This represents a 3.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul Caine sold 12,500 shares of the stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $25.29, for a total transaction of $316,125.00. Following the completion of the sale, the director owned 124,901 shares of the company’s stock, valued at approximately $3,158,746.29. The trade was a 9.10% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 254,126 shares of company stock worth $6,161,335 in the last 90 days. 3.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Magnite

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Signaturefd LLC lifted its position in Magnite by 35.8% during the third quarter. Signaturefd LLC now owns 1,715 shares of the company’s stock worth $43,000 after buying an additional 452 shares in the last quarter. Allworth Financial LP boosted its stake in Magnite by 63.7% during the second quarter. Allworth Financial LP now owns 1,567 shares of the company’s stock worth $30,000 after buying an additional 610 shares during the last quarter. GAMMA Investing LLC boosted its stake in Magnite by 32.1% during the third quarter. GAMMA Investing LLC now owns 2,916 shares of the company’s stock worth $74,000 after buying an additional 708 shares during the last quarter. Pinnacle Associates Ltd. grew its holdings in Magnite by 1.2% in the 3rd quarter. Pinnacle Associates Ltd. now owns 68,742 shares of the company’s stock valued at $1,736,000 after buying an additional 825 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in Magnite by 59.3% in the 3rd quarter. Fifth Third Bancorp now owns 2,380 shares of the company’s stock valued at $60,000 after buying an additional 886 shares in the last quarter. Institutional investors and hedge funds own 73.40% of the company’s stock.

Magnite Company Profile

Magnite, Inc operates an independent omnichannel sell-side advertising platform that helps publishers and digital media owners monetize their content while enabling advertisers to reach audiences across multiple channels. Its platform supports the buying and selling of digital advertising inventory through automated auctions and direct transactions.

The company’s solutions serve connected television and streaming video, online display and mobile advertising, audio, and digital out-of-home media.