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Magnite (MGNI) Gains As Market Dips: What You Should Know
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Magnite (MGNI - Free Report) closed at $37.12 in the latest trading session, marking a +0.19% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.15%. At the same time, the Dow lost 0.07%, and the tech-heavy Nasdaq lost 0.07%.
Investors will be hoping for strength from MGNI as it approaches its next earnings release, which is expected to be February 24, 2021. The company is expected to report EPS of $0.16, down 5.88% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $74 million, up 52.61% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for MGNI. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. MGNI currently has a Zacks Rank of #3 (Hold).
In terms of valuation, MGNI is currently trading at a Forward P/E ratio of 148.44. This represents a premium compared to its industry's average Forward P/E of 87.77.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 186, which puts it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MGNI in the coming trading sessions, be sure to utilize Zacks.com.
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Magnite (MGNI) Gains As Market Dips: What You Should Know
Magnite (MGNI - Free Report) closed at $37.12 in the latest trading session, marking a +0.19% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.15%. At the same time, the Dow lost 0.07%, and the tech-heavy Nasdaq lost 0.07%.
Investors will be hoping for strength from MGNI as it approaches its next earnings release, which is expected to be February 24, 2021. The company is expected to report EPS of $0.16, down 5.88% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $74 million, up 52.61% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for MGNI. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. MGNI currently has a Zacks Rank of #3 (Hold).
In terms of valuation, MGNI is currently trading at a Forward P/E ratio of 148.44. This represents a premium compared to its industry's average Forward P/E of 87.77.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 186, which puts it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MGNI in the coming trading sessions, be sure to utilize Zacks.com.