$Magnite, Inc.(MGNI)$ 🔺🅱️🆄🅻🅻🅸🆂🅷📈
📈💡📈 MGNI: Magnite’s Mighty Momentum – Target $28! 💡📈💡
Kia ora Tiger traders!
My Take: Bullish at today’s open—Magnite Inc. (NASDAQ: MGNI) is climbing the charts with explosive momentum, targeting $28 in the near term. With strong earnings, bullish analyst support, and a technical breakout, this stock is primed for a stellar run.
Key Financial Highlights (20Nov24, 🇳🇿NZ Time):
• Pre-Market Price: $16.79 (+3.26%)
• Q3 Revenue: $149.43M, exceeding expectations.
• EPS: Beat Q3 estimates with $0.39 vs $0.38 projected.
• Market Capitalisation: $2.29 billion.
Today’s Technical Outlook:
• Current Price: $16.79
• Resistance Levels: $21 (short-term), $28 (next major target).
• Breakout Setup: Forming a bullish cup-and-handle pattern, with strong momentum for continuation.
Analyst Ratings:
• Strong Buy: 15% 🟢
• Buy: 77% 🟢
• Hold: 8% 🟡
• Consensus Target Price: $17.46 (average), with highs of $21.
Institutional and Insider Activity:
• Institutional backing remains strong, with active inflows from major funds.
• Recent upgrades by RBC Capital and Wells Fargo bolster investor confidence.
Chart Insight: MGNI’s chart is screaming opportunity with its textbook cup-and-handle breakout. The recent surge in volume supports the bullish setup, and the path to $28 looks increasingly clear.
Why MGNI Matters:
As the world’s largest independent sell-side advertising platform, Magnite continues to lead in programmatic advertising across multiple channels, including CTV and OTT. With a robust balance sheet and consistent earnings growth, it’s a darling for analysts and hedge funds alike.
MGNI’s push into high-growth markets and partnerships ensures it stays ahead of the curve, making it a standout pick in the ad-tech space.
Happy trading ahead. Cheers, BC 🍀🍀🍀
@Tiger_comments @Daily_Discussion @TigerObserver @TigerStars @TigerPicks @TigerPM @TigerGPT
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Magnite, Inc. (MGNI) - Stock Analysis
Business Overview
Magnite, Inc. is the world's largest independent sell-side advertising platform, specializing in programmatic advertising across various channels, including CTV and OTT. The company has a robust balance sheet and consistently delivers strong earnings growth, making it a favorable choice for analysts and hedge funds. Magnite's expansion into high-growth markets and strategic partnerships positions it as a standout player in the ad-tech industry.
Latest Earnings
Q3 Revenue: $149.43 million, surpassing expectations.
Q3 EPS: $0.39, exceeding the estimated $0.38.
Gross profit margin: 61.39%
Net profit margin: 3.22%
Return on investment: 2.82%
Current ratio: 1.11
Quick ratio: 1.10
Total liabilities to total assets ratio: 46.01%
Earnings Forecast
2024FY: Estimated EPS of $0.76, gross income of $611.05 million, and EBIT of $55.69 million.
2025FY: Forecasted EPS of $0.92, gross income of $674.68 million, and EBIT of $83.34 million.
2026FY: Projected EPS of $1.21, gross income of $760.25 million, and EBIT of $119.46 million.
Analyst Recommendations and Target Price
Analyst recommendation: 2 recommend, 10 buy, 1 hold.
Consensus target price: Analysts forecast a mean target price of $17.46, with a low estimate of $13.0 and a high estimate of $21.0.
Capital Flow Data
5 Day Capital Flow:
11/12: Inflow of 1796.2 thousand units (K).
11/13: Inflow of 12063.55 thousand units (K).
11/14: Inflow of 4346.97 thousand units (K).
11/15: Outflow of 1217.47 thousand units (K).
11/18: Outflow of 957.91 thousand units (K).
1 Day Capital Flow:
Total inflow: $9.9036 million
Total outflow: $8.4485 million
Big Inflow: $4.17 million
Median Inflow: $531.67 thousand
Small Inflow: $5.20 million
Big Outflow: $1.85 million
Median Outflow: $521.56 thousand
Small Outflow: $6.08 million
Current Stock Price and Support/Resistance levels
Current stock price (as of 2024-11-20): $16.26
Support levels: $13.14 (2024-11-19)
Resistance levels: $16.28 (2024-11-19)
Average Cost: $13.4 (2024-11-19)
Profiteer Ratio (as of 2024-11-19): 0.9579
Chart InsightMGNI's chart indicates a bullish cup-and-handle breakout pattern. The recent surge in volume further supports this bullish setup, and the path towards the next major target of $28 looks increasingly clear.
ConclusionBased on the analysis, MGNI has strong financials, positive earnings growth forecasts, and widespread analyst support. The stock has shown a breakout pattern and favorable technical indicators. However, investing in the stock market involves inherent risks, and market prices can fluctuate. It is important for investors to conduct their own independent analysis and exercise caution when making investment decisions.
(Note: The information provided here is for informational purposes only and should not be considered as investment advice. It is always recommended to do thorough research and consult with a financial advisor before making investment decisions.)
Sources: Company Profile, Earnings Data, Stock Analysis
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