Analyst Price Forecast Suggests 86.65% Upside
As of August 2, 2023, the average one-year price target for Magnite is 15.90. The forecasts range from a low of 11.11 to a high of $21.00. The average price target represents an increase of 86.65% from its latest reported closing price of 8.52.
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The projected annual revenue for Magnite is 569MM, a decrease of 5.73%. The projected annual non-GAAP EPS is 0.79.
What is the Fund Sentiment?
There are 463 funds or institutions reporting positions in Magnite. This is an increase of 9 owner(s) or 1.98% in the last quarter. Average portfolio weight of all funds dedicated to MGNI is 0.24%, an increase of 13.60%. Total shares owned by institutions increased in the last three months by 3.04% to 118,427K shares. The put/call ratio of MGNI is 0.36, indicating a bullish outlook.
What are Other Shareholders Doing?
Granahan Investment Management holds 7,553K shares representing 5.51% ownership of the company. In it's prior filing, the firm reported owning 9,133K shares, representing a decrease of 20.92%. The firm increased its portfolio allocation in MGNI by 23.29% over the last quarter.
FAGAX - Fidelity Advisor Growth Opportunities Fund holds 6,107K shares representing 4.46% ownership of the company. In it's prior filing, the firm reported owning 5,445K shares, representing an increase of 10.84%. The firm increased its portfolio allocation in MGNI by 8.02% over the last quarter.
Edenbrook Capital holds 5,952K shares representing 4.35% ownership of the company. In it's prior filing, the firm reported owning 6,893K shares, representing a decrease of 15.81%. The firm increased its portfolio allocation in MGNI by 21.20% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,970K shares representing 2.90% ownership of the company. In it's prior filing, the firm reported owning 3,831K shares, representing an increase of 3.49%. The firm decreased its portfolio allocation in MGNI by 16.34% over the last quarter.
Bank of New York Mellon holds 3,488K shares representing 2.55% ownership of the company. In it's prior filing, the firm reported owning 3,814K shares, representing a decrease of 9.32%. The firm decreased its portfolio allocation in MGNI by 85.78% over the last quarter.
Magnite Background Information
(This description is provided by the company.)
Magnite is the world's largest independent sell-side advertising platform that combines Rubicon Project's programmatic expertise with Telaria's leadership in CTV. Publishers use its technology to monetize their content across all screens and formats-including desktop, mobile, audio and CTV. And the world's leading agencies and brands trust its platform to access brand-safe, high-quality ad inventory and execute billions of advertising transactions each month. Anchored in sunny Los Angeles, bustling New York City, historic London, and down under in Sydney, Magnite has offices across North America, EMEA, LATAM and APAC.
- Magnite Reports Second Quarter 2023 Results Total Revenue Grows 11% & Contribution ex-TAC Grows 9% Year-Over-Year Contribution ex-TAC From CTV Grows 8% Year-Over-Year
- MAGNITE, INC. AMENDED AND RESTATED 2014 EQUITY INCENTIVE PLAN ORIGINALLY ADOPTED BY THE BOARD: November 14, 2013 ORIGINALLY APPROVED BY THE STOCKHOLDERS: March 14, 2014 ORIGINAL EFFECTIVE DATE: April 1, 2014 AMENDED BY THE BOARD: April 7, 2016 AMENDE
- MAGNITE, INC. AMENDED AND RESTATED 2014 EMPLOYEE STOCK PURCHASE PLAN
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