Magnite (NASDAQ:MGNI) Releases Quarterly Earnings Results, Misses Expectations By $0.14 EPS

Magnite (NASDAQ:MGNI) issued its quarterly earnings results on Wednesday. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.14), Zacks reports. Magnite had a return on equity of 4.64% and a net margin of 2.62%. Magnite updated its Q1 2025 guidance to EPS.

Magnite Stock Performance

Shares of MGNI traded down $0.50 during trading hours on Wednesday, hitting $16.86. The company’s stock had a trading volume of 3,192,787 shares, compared to its average volume of 2,362,034. The company has a market cap of $2.37 billion, a price-to-earnings ratio of 281.00, a PEG ratio of 1.00 and a beta of 2.52. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.11 and a quick ratio of 1.11. The business has a 50 day simple moving average of $17.27 and a two-hundred day simple moving average of $15.16. Magnite has a 52-week low of $8.38 and a 52-week high of $21.29.

Analyst Ratings Changes

MGNI has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price target on Magnite from $13.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Royal Bank of Canada upped their price objective on shares of Magnite from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Macquarie reissued an “outperform” rating and set a $18.00 price objective on shares of Magnite in a research report on Friday, November 8th. Scotiabank began coverage on shares of Magnite in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $22.00 price target for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $20.00 price objective on shares of Magnite in a research note on Friday, January 17th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Magnite presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.35.

Insider Transactions at Magnite

In other Magnite news, CTO David Buonasera sold 1,969 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $16.31, for a total value of $32,114.39. Following the completion of the transaction, the chief technology officer now owns 223,795 shares of the company’s stock, valued at $3,650,096.45. The trade was a 0.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul Caine sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $20.35, for a total transaction of $101,750.00. Following the completion of the sale, the director now owns 182,837 shares of the company’s stock, valued at approximately $3,720,732.95. The trade was a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 398,110 shares of company stock worth $7,418,043 over the last quarter. Corporate insiders own 4.30% of the company’s stock.

Magnite Company Profile

Magnite, Inc, together with its subsidiaries, operates an independent omni-channel sell-side advertising platform in the United States and internationally. The company’s platform offers applications and services for sellers of digital advertising inventory or publishers that own and operate CTV channels, applications, websites, and other digital media properties to manage and monetize their inventory; and applications and services for buyers, including advertisers, agencies, agency trading desks, and demand side platforms to buy digital advertising inventory, as well as an independent marketplace that connects buyers and sellers.