How to Buy Magnite Stock
Magnite Inc
Magnite, Inc. operates an independent sell-side advertising platform in the United States and internationally.
Magnite stock last closed at $9.25, up 1.43% from the previous day, and has increased 9.08% in one year. It has overperformed other stocks in the Advertising Agencies industry by 0.01 percentage points. Magnite stock is currently +47.29% from its 52-week low of $6.28, and -41.2% from its 52-week high of $15.73.
At the moment, there are 139.93M MGNI shares outstanding. The market cap of MGNI is $1.29B. In the last 24 hours, 1.22M MGNI shares were traded.
How to Buy Magnite Stock
Wondering how to invest in Magnite stock? Here's how.
- Decide where to buy Magnite stock: You need to choose a stock brokerage, but don't worry - we've analyzed dozens of stock brokerages and apps to help you determine where to buy Magnite stock.
- Create a brokerage account: Sign up for 0% fee trading with the highest-rated brokerage we've identified.
- Fund your brokerage account: Select your method of payment and add your info.
- Analyze Magnite stock: The Magnite ticker symbol is MGNI. Is Magnite stock a good investment? Should you buy shares of MGNI? How do MGNI's underlying business fundamentals look? Do top analysts think Magnite is a good buy? Why has MGNI's stock price moved recently? (Hint: Our stock market analysis website can help you understand if MGNI is a good stock to buy).
- Make your MGNI buy order: Decide if you will purchase MGNI shares at the current market price or use a limit order to buy MGNI shares at a particular price.
- Monitor your investment in MGNI: Create a watchlist to monitor your position in Magnite stock.
Step 1: Decide where to buy Magnite stock
You need an online brokerage account in order to access the NASDAQ market and buy MGNI shares.
Our preferred brokerage: eToro
We believe that eToro is the best brokerage. eToro gives you:
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Get $10 towards your share purchase by signing up for an account with eToro now.
Open eToro AccountStep 2: Create a brokerage account
Now that you've selected your brokerage, you'll need to fill out some personal info so you are able to buy MGNI today.
How to Create a New Investment Account on eToro
- Click here to get started.eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
- Input your personal details to start a new trading account.
- Submit your details by hitting the "Create Account" button. Get started with eToro today
Step 3: Fund your brokerage account
Now that you have filled out your info on mobile trading apps, you need to deposit funds:
Check out the video below if you need help transferring money into your new brokerage account.
Step 4: Analyze Magnite stock
After you have chosen the best place to buy Magnite stock, it's absolutely critical to evaluate their stock before you buy, so you can comprehend the risk and opportunity.
Magnite stock quick numbers
Magnite Due Diligence Checks
WallStreetZen was built to help part-time investors do more in-depth fundamental analysis.
You can see all of the due diligence checks on MGNI's stock page.
Is MGNI stock properly valued?
Investors use many financial metrics, analyses, models, and charts to gauge MGNI's intrinsic value.
Using relative valuations methods:
- MGNI could be undervalued based on its P/B ratio of 1.84x, relative to Advertising Agencies industry P/B ratio of 3.44x
You can do more valuation analysis on MGNI's stock here.
How do MGNI Financials look?
Positive Financial Indicators:
- MGNI's operating cash flow of $214.37M allows it to safely service it's debt of $606.65M.
- There are more short-term assets than long-term liabilities on the MGNI balance sheet.
- There are more short-term assets than short-term liabilities on the MGNI balance sheet.
Negative Financial Indicators:
- Total MGNI debt is higher than 5 years ago, relative to shareholder equity.
- MGNI profit margin has gone down from -22.6% to -25.7% in the past year.
- MGNI has a relatively high debt to equity ratio of 2.83.
- MGNI earnings of -$125.18M is not sufficient to cover its interest payments.
Is it a good time to buy Magnite stock, according to Wall Street analysts?
Out of 6 Equities analysts who track MGNI, the consensus analyst rating on Magnite is a Strong Buy
Please note that analyst forecasts are not stock recommendations, nor are they financial advice.
Most Recent MGNI Analyst Forecasts
Shyam Patil, a top 17% analyst from Susquehanna maintains MGNI with a strong buy rating and raises their MGNI price target from $11.00 to $14.00, on Feb 29, 2024.
Susquehanna's Shyam Patil raised their price target on Magnite (NASDAQ: MGNI) by 27.3% from $11 to $14 on 2024/02/29. The analyst maintained their Strong Buy rating on the stock.
Summing up Magnite's Q4 and FY 2023 earnings, reported on 2024/02/28, Patil told readers that "the results were better than expected as the ad environment improved throughout the quarter."
Further, management's guidance was "solid and above expectations," the analyst said.
Earnings Report
Magnite reported:
For Q4 2023:
- EPS of $0.29, up 20.8% from Q4 2022's $0.24.
- Revenue of $186.9M, up 6.6% from Q4 2022's $175.4M.
- Adjusted EBITDA of $70.4M, up 9.7% from Q4 2022's $64.2M.
For FY 2023:
- EPS of $0.54, down 15.6% from FY 2022's $0.64.
- Revenue of $619.7M, up 7.4% from FY 2022's $577.1M.
- Adjusted EBITDA of $171.4M, down 4.1% from FY 2022's $178.8M
For FY 2024, management guided:
- Double-digit percentage growth of Adjusted EBITDA and even higher growth in free cash flow.
President & CEO Michael G. Barrett commented: “We delivered a strong Q4 with CTV and DV+ revenue both exceeding the high end of our guidance ranges.
"We are even more encouraged to see improving top-line trends to start 2024, particularly in CTV.
“For the full year, we delivered solid results despite a muted ad spend environment, combined our two CTV platforms and launched ClearLine, our direct buying solution that allows buyers to transact in CTV inventory with a greatly streamlined supply path.
"We are expanding our relationships with leading streaming partners as they continue to invest in programmatic, which we believe will drive strong top-line growth and profitability for us.”
You can dig deeper into what analysts are projecting on the Magnite stock forecast page.
MGNI Trading Indicators
MGNI Revenue
Last year, MGNI revenue was $619.71M. In the last 5 year, MGNI's revenue has grown by 37.81% per year. This was faster than the Advertising Agencies industry average of 3.43%.
Find out more about MGNI's earnings and revenue performance here.
Are MGNI executives and large shareholders buying or selling the stock?
Over the past 12 months, insiders at MGNI have sold more shares than they have bought.
Michael G. Barrett, CEO of MGNI, was the latest MGNI insider to sell. They sold $840,750.00 worth of MGNI stock on Mar 15, 2024.
Research more about who owns MGNI shares here.
Does MGNI provide a stable income stream?
No, Magnite doesn't provide an income stream by paying out dividends.
What do other investors have to say about MGNI?
One of the reasons eToro is our top-rated brokerage is because of its social trading community.
Click below to learn what other community members have to say.
Step 5: Make your MGNI buy order
There are two main types of orders:
- Market order: A market order is an order to buy or sell a stock at the best available price.
Market orders are generally sufficient. - Limit order: A limit order enables you to buy or sell a stock at a specific price (or better).
If you want to be sure you're buying or selling at a given dollar amount limit, use a limit order.
Hit the Open button and eToro will execute your order.
If you require more info about investing in stocks on eToro, click the helpful video below:
Step 6: Monitor your investment in MGNI
Now that you own some MGNI shares, you'll want to stay up-to-date on your new company.
Add MGNI to a watchlist to see the latest developments about your MGNI stock.
MGNI Feed
How to Buy Stock in Magnite
To reiterate, here are the 6 steps you need to take to buy Magnite stock right now:
- Decide where to buy Magnite stock
- Create a brokerage account
- Fund your brokerage account
- Analyze Magnite stock
- Make your MGNI buy order
- Monitor your investment in MGNI
If you are looking for a brokerage, eToro is our favorite option.
Get Started with eToro TodayIf you would like to get updates on your new investment in Magnite, create a watchlist on WallStreetZen today.
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