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Magnite (MGNI) Jumps: Stock Rises 9.8%

Magnite, Inc. MGNI was a big mover last session, as the company saw its shares rise nearly 10% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company—as the stock is now up 60.4% in the past one-month time frame.

The stock perhaps gained on reports that Walt Disney, a key customer of Magnite, is accelerating its efforts to distribute and monetize streaming content.

The company has seen no changes when it comes to estimate revision over the past few weeks, while the Zacks Consensus Estimate for the current quarter has also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Magnite currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.

Magnite, Inc. Price

The Rubicon Project, Inc. Price

Magnite, Inc. price | Magnite, Inc. Quote

A better-ranked stock in the Internet - Software industry is Square, Inc. SQ, which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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