Earnings results for Magnite (NASDAQ:MGNI)
Magnite, Inc. is expected* to report earnings on 02/24/2021 after market close. The report will be for the fiscal Quarter ending Dec 2020. According to Zacks Investment Research, based on 2 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.11. The reported EPS for the same quarter last year was $0.09.
Analyst Opinion on Magnite (NASDAQ:MGNI)
6 Wall Street analysts have issued ratings and price targets for Magnite in the last 12 months. Their average twelve-month price target is $35.17, predicting that the stock has a possible downside of 39.95%. The high price target for MGNI is $70.00 and the low price target for MGNI is $13.00. There are currently 2 hold ratings and 4 buy ratings for the stock, resulting in a consensus rating of “Buy.”
Magnite has received a consensus rating of Buy. The company’s average rating score is 2.67, and is based on 4 buy ratings, 2 hold ratings, and no sell ratings. According to analysts’ consensus price target of $35.17, Magnite has a forecasted downside of 39.9% from its current price of $58.56. Magnite has been the subject of 5 research reports in the past 90 days, demonstrating strong analyst interest in this stock.
Dividend Strength: Magnite (NASDAQ:MGNI)
Magnite does not currently pay a dividend. Magnite does not have a long track record of dividend growth.
Insiders buying/selling: Magnite (NASDAQ:MGNI)
In the past three months, Magnite insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $7,777,035.00 in company stock. Only 5.70% of the stock of Magnite is held by insiders. 74.34% of the stock of Magnite is held by institutions. High institutional ownership can be a signal of strong market trust in this company.
Earnings and Valuation of Magnite (NASDAQ:MGNI
The P/E ratio of Magnite is -96.00, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. The P/E ratio of Magnite is -96.00, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. Magnite has a P/B Ratio of 27.75. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.
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