Magnite (NASDAQ:MGNI) Stock Gets Price Target Bump from Wells Fargo & Company

Magnite (NASDAQ:MGNI) had its price objective boosted by stock analysts at Wells Fargo & Company from $22.00 to $23.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target points to a potential downside of 17.09% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Weiss Ratings upgraded shares of Magnite from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. Benchmark raised their price objective on shares of Magnite from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Evercore reaffirmed an “outperform” rating and issued a $25.00 price target on shares of Magnite in a research note on Thursday, August 6th. B. Riley Financial increased their price objective on shares of Magnite from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 18th. Finally, Craig Hallum reiterated a “buy” rating and issued a $32.00 target price on shares of Magnite in a research note on Thursday, September 17th. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $29.91.

Magnite Stock Performance

MGNI traded up $4.95 during midday trading on Thursday, reaching $27.74. The company had a trading volume of 4,254,636 shares, compared to its average volume of 2,488,429. Magnite has a 1 year low of $10.82 and a 1 year high of $28.17. The company has a market cap of $3.98 billion, a P/E ratio of 25.44, a P/E/G ratio of 0.73 and a beta of 2.44. The business has a 50-day moving average of $23.90 and a two-hundred day moving average of $17.72. The company has a quick ratio of 1.03, a current ratio of 1.02 and a debt-to-equity ratio of 0.37.

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 analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $204.20 million during the quarter, compared to analyst estimates of $190.19 million. Magnite had a net margin of 22.49% and a return on equity of 9.33%. The company’s revenue was up 22.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.20 earnings per share. As a group, equities research analysts predict that Magnite will post 0.61 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Robert Spillane sold 10,363 shares of Magnite stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $23.76, for a total transaction of $246,224.88. Following the completion of the transaction, the director directly owned 57,715 shares in the company, valued at approximately $1,371,308.40. This trade represents a 15.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Katie Evans sold 13,997 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider directly owned 441,800 shares of the company’s stock, valued at $10,603,200. The trade was a 3.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 254,126 shares of company stock valued at $6,161,335 over the last 90 days. Company insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Magnite

Large investors have recently modified their holdings of the business. Signaturefd LLC grew its position in shares of Magnite by 35.8% in the third quarter. Signaturefd LLC now owns 1,715 shares of the company’s stock valued at $43,000 after purchasing an additional 452 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Magnite by 63.7% during the 2nd 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 raised its position in shares of Magnite by 32.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,916 shares of the company’s stock valued at $74,000 after buying an additional 708 shares during the period. Pinnacle Associates Ltd. raised its position in shares of Magnite by 1.2% during 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 during the period. Finally, Covestor Ltd increased its position in shares of Magnite by 562.1% during the 3rd quarter. Covestor Ltd now owns 1,066 shares of the company’s stock worth $26,000 after purchasing an additional 905 shares during the last quarter. Hedge funds and other institutional investors own 73.40% of the company’s stock.

Key Magnite News

Here are the key news stories impacting Magnite this week:

• Positive Sentiment: Q3 contribution ex-TAC rose 20% year over year to $200.6 million, above the company’s guidance range. CTV contribution ex-TAC surged 39% to $105.4 million, while DV+ grew 5%; both exceeded guidance. Magnite Reports Third Quarter 2026 Results
• Positive Sentiment: Adjusted EBITDA increased 46% to $83.4 million, with a 42% margin, and non-GAAP EPS of $0.33 topped estimates. Revenue was $204.2 million, up 14% year over year and ahead of expectations. Magnite Beats Q3 Earnings and Revenue Estimates
• Positive Sentiment: Magnite raised its 2026 outlook: contribution ex-TAC growth is now expected near 17%, adjusted EBITDA growth near 30%, margin around 38.5%, and free-cash-flow growth above 60%. For 2027, it expects at least a 38.5% adjusted EBITDA margin and accelerating top-line growth excluding political advertising. Magnite Raises 2026 Outlook and Signals 2027 Margin
• Positive Sentiment: Q4 contribution ex-TAC guidance of $227 million to $233 million offers a further growth signal. Management also highlighted CTV momentum and political-ad demand on its earnings call. Magnite Q3 2026 Earnings Call Highlights

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.