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Magnite (MGNI) Dips More Than Broader Markets: What You Should Know

Magnite (MGNI) closed at $40.99 in the latest trading session, marking a -0.75% move from the prior day. This change lagged the S&P 500's daily loss of 0.09%.

Coming into today, shares of the digital ad exchange operator had gained 1.57% in the past month. In that same time, the Computer and Technology sector gained 10.43%, while the S&P 500 gained 5.45%.

Wall Street will be looking for positivity from MGNI as it approaches its next earnings report date. This is expected to be May 10, 2021. In that report, analysts expect MGNI to post earnings of $0.02 per share. This would mark year-over-year growth of 133.33%.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.37 per share and revenue of $277.9 million. These totals would mark changes of +117.65% and +25.39%, respectively, from last year.

Investors might also notice recent changes to analyst estimates for MGNI. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. MGNI is currently a Zacks Rank #3 (Hold).

Looking at its valuation, MGNI is holding a Forward P/E ratio of 111.62. Its industry sports an average Forward P/E of 79.44, so we one might conclude that MGNI is trading at a premium comparatively.

The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 187, which puts it in the bottom 27% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.


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