Magnite (NASDAQ:MGNI) Price Target Raised to $40.00 at Rosenblatt Securities

Magnite (NASDAQ:MGNI) had its price objective boosted by analysts at Rosenblatt Securities from $39.00 to $40.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Rosenblatt Securities’ target price would suggest a potential upside of 93.52% from the company’s previous close.

MGNI has been the topic of a number of other research reports. Evercore restated an “outperform” rating and set a $21.00 price target on shares of Magnite in a report on Thursday, May 7th. Weiss Ratings raised shares of Magnite from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Needham & Company LLC reiterated a “buy” rating and set a $25.00 price objective on shares of Magnite in a research report on Thursday, April 16th. Wells Fargo & Company boosted their target price on shares of Magnite from $15.00 to $21.00 and gave the company an “equal weight” rating in a research note on Friday, July 17th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Magnite in a report on Thursday, May 28th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.44.

Magnite Trading Down 0.9%

Shares of NASDAQ MGNI opened at $20.67 on Thursday. Magnite has a 12 month low of $10.82 and a 12 month high of $26.65. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 19.88, a P/E/G ratio of 1.06 and a beta of 2.26. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.38. The business has a fifty day simple moving average of $18.28 and a 200-day simple moving average of $14.80.

Magnite (NASDAQ:MGNI) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. The business had revenue of $192.82 million during the quarter, compared to analyst estimates of $179.15 million. Magnite had a return on equity of 8.40% and a net margin of 21.96%.Magnite’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter last year, the company posted $0.20 EPS. Sell-side analysts predict that Magnite will post 0.55 EPS for the current year.

Insider Buying and Selling at Magnite

In related news, CEO Michael G. Barrett sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $19.50, for a total transaction of $1,462,500.00. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO David Buonasera sold 1,224 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $21.00, for a total transaction of $25,704.00. Following the completion of the sale, the chief technology officer owned 268,485 shares of the company’s stock, valued at approximately $5,638,185. The trade was a 0.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 491,639 shares of company stock valued at $8,676,734 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Stephens Investment Management Group LLC boosted its stake in shares of Magnite by 17.0% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,128,578 shares of the company’s stock worth $18,317,000 after acquiring an additional 164,035 shares in the last quarter. Royce & Associates LP boosted its position in Magnite by 19.5% during the fourth quarter. Royce & Associates LP now owns 1,166,469 shares of the company’s stock worth $18,932,000 after purchasing an additional 190,318 shares during the period. Meros Investment Management LP grew its holdings in Magnite by 34.5% during the fourth quarter. Meros Investment Management LP now owns 825,595 shares of the company’s stock valued at $13,399,000 after purchasing an additional 211,767 shares during the last quarter. Capital Research Global Investors raised its position in shares of Magnite by 85.0% in the fourth quarter. Capital Research Global Investors now owns 12,920,289 shares of the company’s stock valued at $209,696,000 after purchasing an additional 5,937,428 shares during the period. Finally, CenterBook Partners LP raised its position in shares of Magnite by 137.1% in the fourth quarter. CenterBook Partners LP now owns 172,546 shares of the company’s stock valued at $2,800,000 after purchasing an additional 99,760 shares during the period. 73.40% of the stock is owned by institutional investors and hedge funds.

Key Magnite News

Here are the key news stories impacting Magnite this week:

• Positive Sentiment: Magnite reported Q2 revenue of $192.8 million, up 11% year over year, and non-GAAP EPS of $0.26 versus the $0.25 consensus estimate. Net income rose to $19.4 million from $11.1 million a year earlier. Magnite Reports Second Quarter 2026 Results
• Positive Sentiment: Core contribution ex-TAC, a key advertising-market revenue measure, increased 17% to $189.6 million and exceeded the company’s guidance range. CTV contribution ex-TAC surged 36% to $97.1 million, offsetting more modest 2% growth in DV+. Magnite Reports Second Quarter 2026 Results
• Positive Sentiment: Adjusted EBITDA rose 30% to $70.6 million, producing a 37% margin versus 34% in the prior-year quarter. Operating cash flow was $57.4 million, supporting the company’s improving profitability profile. Magnite Q2 Earnings and Revenues Top Estimates
• Positive Sentiment: Management raised its full-year 2026 expectations: contribution ex-TAC growth is now projected at 13%–14%, adjusted EBITDA growth above 20%, 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 also exceeds the reported analyst estimate of $185.2 million. Magnite Raises Full-Year 2026 Outlook
• Neutral Sentiment: Coverage was mixed on the revenue comparison: one report described Magnite as missing its particular Q2 revenue estimate, although the company’s reported $192.8 million exceeded the $179.15 million estimate cited in other coverage. Investors are likely placing greater emphasis on contribution ex-TAC and the upgraded outlook.
• Negative Sentiment: DV+ growth remained subdued at 2%, leaving Magnite’s results increasingly dependent on sustained CTV momentum.

About Magnite

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).