Susquehanna Boosts Magnite (NASDAQ:MGNI) Price Target to $30.00

Magnite (NASDAQ:MGNI) had its target price lifted by equities researchers at Susquehanna from $22.00 to $30.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “positive” rating on the stock. Susquehanna’s price objective points to a potential upside of 21.36% from the company’s previous close.

MGNI has been the topic of a number of other research reports. Weiss Ratings upgraded Magnite from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Scotiabank raised their price target on shares of Magnite from $16.00 to $17.00 and gave the company a “sector outperform” rating in a report on Thursday, May 7th. Evercore restated an “outperform” rating and set a $21.00 price objective on shares of Magnite in a report on Thursday, May 7th. Rosenblatt Securities increased their target price on Magnite from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday. Finally, BTIG Research raised their price target on shares of 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 given a Hold rating to the company. According to data from MarketBeat, Magnite presently has an average rating of “Moderate Buy” and an average target price of $28.30.

Magnite Price Performance

Shares of NASDAQ:MGNI opened at $24.72 on Thursday. The company has a market cap of $3.54 billion, a P/E ratio of 22.68, a P/E/G ratio of 1.24 and a beta of 2.26. The business has a fifty day simple moving average of $18.69 and a 200-day simple moving average of $14.94. Magnite has a 52 week low of $10.82 and a 52 week high of $26.65. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.37.

Magnite (NASDAQ:MGNI) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.02. Magnite had a net margin of 22.49% and a return on equity of 9.33%. The business had revenue of $192.82 million for the quarter, compared to analyst estimates of $179.15 million. During the same period in the prior year, the firm posted $0.20 EPS. The company’s revenue was up 11.3% on a year-over-year basis. Equities research analysts forecast that Magnite will post 0.55 EPS for the current year.

Insider Activity at Magnite

In related news, Director Douglas S. Knopper sold 37,337 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $18.10, for a total value of $675,799.70. Following the transaction, the director owned 125,810 shares in the company, valued at $2,277,161. This trade represents a 22.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael G. Barrett sold 293,968 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $22.72, for a total transaction of $6,678,952.96. Following the sale, the chief executive officer directly owned 403,074 shares of the company’s stock, valued at approximately $9,157,841.28. This trade represents a 42.17% 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 have sold a total of 917,772 shares of company stock valued at $18,508,643 over the last ninety days. Company insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Magnite

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. US Bancorp DE increased its position in shares of Magnite by 75.8% in the third quarter. US Bancorp DE now owns 1,596 shares of the company’s stock valued at $35,000 after acquiring an additional 688 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Magnite by 45.1% in the third quarter. PNC Financial Services Group Inc. now owns 2,428 shares of the company’s stock valued at $53,000 after purchasing an additional 755 shares during the last quarter. Harbor Investment Advisory LLC acquired a new stake in shares of Magnite during the 2nd quarter worth about $62,000. Smartleaf Asset Management LLC boosted its holdings in shares of Magnite by 20.5% during the 2nd quarter. Smartleaf Asset Management LLC now owns 3,387 shares of the company’s stock worth $82,000 after buying an additional 577 shares during the period. Finally, Johnson Financial Group Inc. bought a new stake in shares of Magnite during the 3rd quarter worth about $83,000. Institutional investors and hedge funds own 73.40% of the company’s stock.

Key Stories Impacting Magnite

Here are the key news stories impacting Magnite this week:

• Positive Sentiment: Better-than-expected Q2 results: Magnite reported adjusted earnings of $0.26 per share, exceeding the $0.24 consensus estimate, while revenue rose 11.3% year over year to $192.82 million, well above the $179.15 million forecast. Magnite earnings report
• Positive Sentiment: Higher outlook: The company raised its full-year 2026 forecast to 13%-14% contribution ex-TAC growth and at least a 37% adjusted EBITDA margin. Magnite also guided third-quarter revenue to $188 million-$192 million, above the $185.2 million analyst consensus. Magnite raises 2026 outlook
• Positive Sentiment: Analyst optimism and CTV focus: Following the earnings beat, Rosenblatt raised its price target to $40 and maintained a buy rating, while Susquehanna lifted its target to $30 with a positive rating and B. Riley raised its target to $27 with a buy rating. Coverage also highlighted connected TV growth as an important catalyst. Magnite analyst forecast increases
• Neutral Sentiment: Ad-tech peer read-through: Magnite held firm while Trade Desk fell sharply after its earnings report, suggesting investors are distinguishing between stronger and weaker companies in the digital advertising sector. Ad-tech stock comparison
• Negative Sentiment: Valuation caution: Wells Fargo raised its price target modestly to $22 but retained an equal-weight rating. The target remains below Magnite’s current trading level, signaling limited near-term upside in that analyst’s view. Wells Fargo Magnite price target

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).