Royal Bank Of Canada Forecasts Strong Price Appreciation for Magnite (NASDAQ:MGNI) Stock

Magnite (NASDAQ:MGNI) had its target price raised by analysts at Royal Bank Of Canada from $27.00 to $30.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada‘s price objective would indicate a potential upside of 9.53% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the company. Scotiabank lifted their target price on Magnite from $27.00 to $30.00 and gave the company a “sector outperform” rating in a research report on Thursday. Rosenblatt Securities reaffirmed a “buy” rating and set a $40.00 price target on shares of Magnite in a research report on Friday, October 2nd. Wells Fargo & Company raised their price target on shares of Magnite from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Thursday. Evercore reiterated an “outperform” rating and issued a $25.00 price objective on shares of Magnite in a report on Thursday, August 6th. Finally, B. Riley Financial boosted their price objective on shares of Magnite from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 18th. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $30.45.

Magnite Stock Down 0.5%

MGNI stock traded down $0.13 during trading hours on Thursday, reaching $27.39. 3,659,069 shares of the stock were exchanged, compared to its average volume of 1,806,841. The firm’s 50-day moving average is $24.06 and its 200-day moving average is $17.85. The company has a market cap of $3.93 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 0.71 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 has a 12 month low of $10.82 and a 12 month high of $28.17.

Magnite (NASDAQ:MGNI) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating 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 return on equity of 9.33% and a net margin of 22.49%. The company’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter last year, the business posted $0.20 EPS. On average, equities research analysts expect that Magnite will post 0.61 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Douglas S. Knopper sold 37,337 shares of the company’s stock in a transaction dated 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 owned 51,136 shares in the company, valued at approximately $1,343,854.08. This represents a 42.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Katie Evans sold 32,285 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $23.63, for a total value of $762,894.55. Following the transaction, the insider directly owned 466,897 shares of the company’s stock, valued at $11,032,776.11. This trade represents a 6.47% 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 have sold 270,823 shares of company stock worth $6,613,580 over the last three months. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

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

More Magnite News

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

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.