Magnite (NASDAQ:MGNI) Stock Price Target Raised at Royal Bank Of Canada

Magnite (NASDAQ:MGNI) had its target price hoisted by Royal Bank Of Canada from $27.00 to $30.00 in a research report report published on Thursday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Several other equities analysts have also recently commented on the stock. Evercore reissued an “outperform” rating and issued a $25.00 price target on shares of Magnite in a research report on Thursday, August 6th. Needham & Company LLC lifted their target price on Magnite from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. Craig Hallum reaffirmed a “buy” rating and issued a $32.00 price target on shares of Magnite in a research report on Thursday, September 17th. Weiss Ratings raised Magnite from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 23rd. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $40.00 target price on shares of Magnite in a research note on Friday, October 2nd. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.45.

Magnite Trading Up 20.8%

Shares of NASDAQ MGNI opened at $27.52 on Thursday. The company has a current ratio of 1.02, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $3.95 billion, a PE ratio of 23.13, a PEG ratio of 0.75 and a beta of 2.44. Magnite has a twelve month low of $10.82 and a twelve month high of $28.17. The stock has a fifty day simple moving average of $23.98 and a 200-day simple moving average of $17.79.

Magnite (NASDAQ:MGNI) last released its earnings results on Wednesday, November 4th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. The company had revenue of $204.20 million during the quarter, compared to the consensus estimate of $190.19 million. Magnite had a return on equity of 11.04% and a net margin of 23.58%. Magnite’s revenue was up 22.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.20 EPS. On average, equities analysts forecast that Magnite will post 0.61 earnings per share for the current year.

Insider Buying and Selling at Magnite

In other news, Director Robert Spillane sold 10,363 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $23.76, for a total value of $246,224.88. Following the completion of the sale, the director directly owned 57,715 shares of the company’s stock, valued at approximately $1,371,308.40. The trade was a 15.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO David Buonasera sold 1,165 shares of Magnite stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $24.00, for a total value of $27,960.00. Following the transaction, the chief technology officer directly owned 245,155 shares in the company, valued at approximately $5,883,720. This trade represents a 0.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 254,126 shares of company stock valued at $6,161,335. 3.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Magnite

Institutional investors have recently added to or reduced their stakes in the stock. Covestor Ltd lifted its position in shares of Magnite by 562.1% during the 3rd quarter. Covestor Ltd now owns 1,066 shares of the company’s stock valued at $26,000 after acquiring an additional 905 shares during the period. Nykredit A S purchased a new stake in Magnite during the second quarter worth $25,000. EFG International AG acquired a new stake in Magnite in the second quarter valued at $28,000. Allworth Financial LP purchased a new position in shares of Magnite in the second quarter valued at $30,000. Finally, Signaturefd LLC boosted its position in shares of Magnite by 35.8% in the 3rd quarter. Signaturefd LLC now owns 1,715 shares of the company’s stock worth $43,000 after buying an additional 452 shares in the last quarter. 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: Q3 results beat expectations. Revenue was $204.2 million, up 14% year over year, and non-GAAP EPS was $0.33, above analyst estimates. Contribution ex-TAC rose 20% to $200.6 million, while adjusted EBITDA increased 46% to $83.4 million. Magnite Reports Third Quarter 2026 Results
• Positive Sentiment: Connected TV was a key growth driver. CTV contribution ex-TAC climbed 39% year over year to $105.4 million, exceeding company guidance; digital video and display (DV+) contribution ex-TAC grew 5% to $95.3 million. Magnite: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Magnite raised its 2026 outlook and gave a solid 2027 forecast. It now expects 2026 contribution ex-TAC growth of about 17% and adjusted EBITDA growth of about 30%. For 2027, it forecast at least a 38.5% adjusted EBITDA margin and more than 15% top-line growth excluding political advertising. Q4 contribution ex-TAC is projected at $227 million to $233 million. Magnite raises outlook and signals 2027 margin
• Positive Sentiment: RBC raised its price target to $30 from $27 and maintained an Outperform rating, signaling further potential upside in the bank’s view. RBC Raises Price Target on Magnite
• Negative Sentiment: Wells Fargo’s price target remains below the prevailing share price. Although it raised its target from $22 to $23, it kept an Equal Weight rating, reflecting a more cautious assessment after the stock’s sharp move higher. Wells Fargo price target update

About Magnite

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.