Magnite (NASDAQ:MGNI) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Magnite (NASDAQ:MGNI) had its price target hoisted by equities researchers at Wells Fargo & Company from $22.00 to $23.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential downside of 16.03% from the stock’s current price.

MGNI has been the subject of several other reports. Benchmark increased their price objective on Magnite from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Needham & Company LLC boosted their target price on shares of Magnite from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $40.00 target price on shares of Magnite in a report on Friday, October 2nd. B. Riley Financial upped their target price on shares of Magnite from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 18th. Finally, Craig Hallum reiterated a “buy” rating and set a $32.00 target price on shares of Magnite in a research report on Thursday, September 17th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.45.

Magnite Price Performance

NASDAQ MGNI traded down $0.13 during trading on Thursday, reaching $27.39. 3,659,069 shares of the company traded hands, compared to its average volume of 1,806,841. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 1.02. The stock’s 50 day moving average price is $24.06 and its two-hundred day moving average price is $17.85. The company has a market cap of $3.93 billion, a price-to-earnings ratio of 23.02, a P/E/G ratio of 0.71 and a beta of 2.44. Magnite has a 1-year low of $10.82 and a 1-year high of $28.17.

Magnite (NASDAQ:MGNI) last issued its earnings results on Wednesday, November 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $204.20 million during the quarter, compared to analysts’ expectations of $190.19 million. Magnite had a return on equity of 9.33% and a net margin of 22.49%. Magnite’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.20 EPS. As a group, analysts anticipate that Magnite will post 0.61 EPS for the current year.

Insiders Place Their Bets

In related news, Director Douglas Knopper sold 37,337 shares of the stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $26.28, for a total transaction of $981,216.36. Following the sale, the director directly owned 51,136 shares in the company, valued at $1,343,854.08. This represents a 42.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Aaron Saltz sold 40,000 shares of the firm’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $23.41, for a total value of $936,400.00. Following the sale, the insider directly owned 224,389 shares of the company’s stock, valued at $5,252,946.49. This represents a 15.13% 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. Insiders sold 270,823 shares of company stock worth $6,613,580 over the last ninety days. 3.20% of the stock is owned by insiders.

Institutional Trading of Magnite

Several large investors have recently made changes to their positions in MGNI. BlackRock Inc. acquired a new stake in shares of Magnite in the second quarter valued at $241,296,000. Dimensional Fund Advisors LP lifted its position in Magnite by 10.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,983,674 shares of the company’s stock worth $47,322,000 after buying an additional 367,854 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in Magnite during the 2nd quarter worth about $56,847,000. Bank of America Corp DE bought a new stake in Magnite during the 2nd quarter worth about $22,431,000. Finally, Bank of New York Mellon Corp bought a new stake in Magnite during the 2nd quarter worth about $22,059,000. Institutional investors own 73.40% of the company’s stock.

Trending Headlines about Magnite

Here are the key news stories impacting Magnite this week:

• Positive Sentiment: Magnite beat Q3 estimates, reporting $0.33 in adjusted earnings per share and $204.2 million in revenue. Contribution ex-TAC increased 20% year over year to $201 million, led by CTV contribution ex-TAC growth of 39% to $105 million. Magnite: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: The company raised its 2026 contribution ex-TAC growth outlook to about 17% and said it expects 2027 adjusted EBITDA margin of at least 38.5%, signaling confidence in growth and operating leverage. Magnite raises 2026 outlook and signals 2027 margins
• Positive Sentiment: RBC raised its price target to $30 from $27 and maintained an Outperform rating, reflecting continued analyst optimism. RBC raises Magnite price target
• Neutral Sentiment: CTO David Buonasera and insider Sean Buckley sold 5,706 and 10,991 shares, respectively. Both transactions were made under pre-arranged Rule 10b5-1 plans, and each retained a substantial stake. Buonasera SEC filing Buckley SEC filing
• Negative Sentiment: Wells Fargo raised its target to $23 from $22 but kept an Equal Weight rating; the target remains below the stock’s recent trading level, suggesting a more cautious view than RBC’s. Wells Fargo analyst recommendations

About Magnite

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.