In the last trading session, Magnite (MGNI) closed at USD 33.19, a move of -0.93% from the previous day. That change fell short of the S&P 500’s daily gain of 1.13%.
Today the shares of the operator of digital advertising exchanges had gained 2.95% in the past month. At the same time, the computer and technology sector rose 4.4% while the S&P 500 rose 2.39%.
Investors will be hoping for strength from MGNI as it nears its next earnings release, which is expected on August 5, 2021. In this report, analysts expect MGNI to post earnings of $ 0.11 per share. This would mean a growth of 210% compared to the previous year. Our most recent consensus estimate was for revenue of $ 95 million, up 124.32% from the year-ago quarter.
For the full year, our Zacks Consensus Estimates suggest analysts expect earnings per share of $ 0.57 and revenue of $ 404.4 million. These sums would mean a change of +235.29% and +82.47% respectively compared to the previous year.
It is also important to note the recent changes in analyst estimates for MGNI. These revisions help highlight the ever-changing nature of short-term business trends. Hence, we can interpret positive valuation revisions as a good sign of the company’s business outlook.
Our research shows that these changes in estimates correlate directly with short-term stock prices. Investors can take advantage of this by using the Zacks rank. This model takes these changes in estimates into account and provides a simple, actionable rating system.
The Zacks ranking system ranges from # 1 (strong buy) to # 5 (strong sell). It has a remarkable externally audited track record, with number 1 stocks having posted an average annual return of + 25% since 1988. MGNI is currently a Zacks Rank # 2 (Buy).
Looking at the valuation, MGNI holds a forward P / E of 58.77. This is a discount to the industry’s average forward P / E of 61.33.
The internet software industry is part of the computer and technology sector. This industry currently has a Zacks industry rank of 213, which puts it in the bottom 17% of all over 250 industries.
Zacks Industry Rank measures the strength of our individual industry groups by measuring the average Zacks rank of individual stocks within the groups. Our research shows that the top-rated 50% of industries outperform the bottom half by a factor of 2 to 1.
Keep track of all of these stock movement metrics and many more on Zacks.com.
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