Magnite (NASDAQ:MGNI) Given New $22.00 Price Target at Wells Fargo & Company

Magnite (NASDAQ:MGNI) had its price target raised by stock analysts at Wells Fargo & Company from $21.00 to $22.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential downside of 12.14% from the company’s current price.

MGNI has been the topic of several other research reports. Rosenblatt Securities increased their price objective on shares of Magnite from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday. Weiss Ratings upgraded Magnite from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Royal Bank Of Canada upped their target price on Magnite from $20.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday. Scotiabank reaffirmed an “outperform” rating and set a $27.00 target price on shares of Magnite in a report on Thursday. Finally, BTIG Research increased their price target on Magnite from $20.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Magnite has a consensus rating of “Moderate Buy” and a consensus target price of $28.30.

Magnite Stock Performance

MGNI stock traded up $0.72 during trading on Friday, hitting $25.04. 1,161,567 shares of the company’s stock traded hands, compared to its average volume of 2,565,408. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 23.02, a price-to-earnings-growth ratio of 1.05 and a beta of 2.26. Magnite has a 52 week low of $10.82 and a 52 week high of $26.65. The stock has a fifty day moving average price of $18.48 and a two-hundred day moving average price of $14.87. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.38.

Magnite (NASDAQ:MGNI) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. Magnite had a net margin of 22.49% and a return on equity of 9.47%. The company had revenue of $192.82 million for the quarter, compared to the consensus estimate of $179.15 million. During the same period last year, the firm posted $0.20 EPS. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. As a group, equities analysts anticipate that Magnite will post 0.55 EPS for the current fiscal year.

Insider Activity

In other Magnite news, insider Sean Patrick Buckley sold 19,233 shares of the business’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $21.03, for a total transaction of $404,469.99. Following the completion of the transaction, the insider owned 354,281 shares in the company, valued at approximately $7,450,529.43. The trade was a 5.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael G. Barrett sold 75,000 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $19.50, for a total value of $1,462,500.00. Following the completion of the transaction, the chief executive officer directly owned 403,074 shares of the company’s stock, valued at approximately $7,859,943. The trade was a 15.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 491,639 shares of company stock worth $8,676,734 over the last ninety days. 3.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Magnite

Institutional investors and hedge funds have recently bought and sold shares of the stock. US Bancorp DE raised its position in shares of Magnite by 75.8% during the 3rd quarter. US Bancorp DE now owns 1,596 shares of the company’s stock worth $35,000 after buying an additional 688 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Magnite by 106.3% in the first quarter. PNC Financial Services Group Inc. now owns 3,783 shares of the company’s stock valued at $45,000 after acquiring an additional 1,949 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Magnite by 98.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,678 shares of the company’s stock valued at $61,000 after acquiring an additional 1,824 shares in the last quarter. Harbor Investment Advisory LLC acquired a new position in shares of Magnite during the second quarter valued at approximately $62,000. Finally, Optiver Holding B.V. increased its stake in shares of Magnite by 2,746.4% during the first quarter. Optiver Holding B.V. now owns 5,579 shares of the company’s stock valued at $66,000 after acquiring an additional 5,383 shares during the period. 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: Q2 results exceeded expectations: Magnite reported $192.8 million in revenue, up 11% year over year, while non-GAAP EPS of $0.26 surpassed the $0.24 consensus estimate. Contribution ex-TAC rose 17% to $189.6 million, and adjusted EBITDA increased 30% to $70.6 million, producing a 37% margin. Magnite Reports Second Quarter 2026 Results
• Positive Sentiment: CTV remains the primary growth engine: CTV contribution ex-TAC climbed 36% year over year to $97.1 million, exceeding company guidance. Magnite also reported a return to growth in its DV+ business, suggesting broader momentum across its advertising platforms. Magnite Results Put CTV Growth In Focus
• Positive Sentiment: Management raised its full-year outlook: Magnite now expects contribution ex-TAC growth of 13%–14%, adjusted EBITDA growth above 20%, an adjusted EBITDA margin of at least 37% and free-cash-flow growth in the high-40% range. Third-quarter contribution ex-TAC guidance of $188 million–$192 million is also above the $185.2 million analyst consensus for revenue cited in reports. Magnite Raises Full-Year 2026 Outlook
• Positive Sentiment: Analysts lifted price targets: Rosenblatt raised its target to $40 and maintained a buy rating, Susquehanna raised its target to $30 with a positive rating, and B. Riley increased its target to $27 with a buy rating. These revisions reflect confidence in Magnite’s earnings and CTV trajectory. Magnite Analysts Boost Their Forecasts
• Neutral Sentiment: Industry backdrop is mixed: Trade Desk’s sharp earnings-related decline pressured parts of the ad-tech sector, but investors have so far treated Magnite as a relative winner because of its results and outlook. Continued execution and sustained advertiser spending remain important risks. Trade Desk Decline and Ad-Tech Peers

Magnite Company Profile

Magnite, Inc (NASDAQ: MGNI) operates as an independent sell-side advertising platform that enables publishers and digital media owners to monetize their inventory through programmatic advertising. Formed in 2020 through the merger of Rubicon Project and Telaria, Magnite combines technologies for desktop, mobile, connected television (CTV) and digital out-of-home (DOOH) ad exchanges. The company provides an end-to-end solution designed to help media owners optimize yield across open marketplaces, private marketplaces and programmatic guaranteed deals.

At the core of Magnite’s offering is its supply-side platform (SSP), which connects publishers’ ad impressions to demand-side platforms (DSPs) through real-time bidding (RTB).