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What's in the Offing for Magnite (MGNI) This Earnings Season?
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Magnite is scheduled to report fourth-quarter 2021 results on Feb 23.
For the fourth quarter, the company anticipates revenues between $138 million and $142 million.
The Zacks Consensus Estimate for fourth-quarter earnings has been steady at 31 cents per share over the past 30 days. The figure indicates 63.16% growth from the year-ago reported figure.
The consensus mark for revenues stands at $140 million, suggesting an improvement of 70.73% from the year-ago reported figure.
The company’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, the average earnings surprise being 13.77%.
Factors to Note
Magnite’s fourth-quarter performance is likely to have benefited from a continued strong recovery in the digital advertising market.
Steady momentum across all formats and device types, which includes Connected Television (“CTV”), mobile, non-CTV video and display, might have aided the to-be-reported quarter’s performance.
Magnite is expected to have witnessed positive traction in the fourth quarter, courtesy of moving small advertisers over to CTV with respect to mid-market and regional campaigns.
The company's fourth-quarter top line is likely to reflect benefits from client wins like fuboTV (FUBO - Free Report) and Frndly TV.
fuboTV and Frndly TV have selected Magnite as their preferred selling partner. The partnership between fuboTV and Magnite coincided with the launch of the 2021 football season as sports viewers migrated from linear TV to CTV.
The company is anticipated to have gained from increased cord-cutting and rising traction of ad-supported programmatic CTV, driven by a shift from direct sales to programmatic ad spending.
What Our Model Indicates
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. However, that is not the case here.
Magnite has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Zscaler’s shares have gained 15.9% in the past year compared with the Zacks Internet – Services industry’s growth of 7.1%. The Zacks Computer and Technology Sector witnessed a rise of 1.1%.
Ambarella (AMBA - Free Report) has an Earnings ESP of +2.86% and a Zacks Rank #3. The company is scheduled to release fourth-quarter 2022 results on Feb 28.
Ambarella’s shares have returned 10.7% in the past year compared with the Zacks Electronics-Semiconductors industry’s rally of 6.5%. The Zacks Computer and Technology Sector witnessed a rise of 1.1%.
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What's in the Offing for Magnite (MGNI) This Earnings Season?
Magnite is scheduled to report fourth-quarter 2021 results on Feb 23.
For the fourth quarter, the company anticipates revenues between $138 million and $142 million.
The Zacks Consensus Estimate for fourth-quarter earnings has been steady at 31 cents per share over the past 30 days. The figure indicates 63.16% growth from the year-ago reported figure.
The consensus mark for revenues stands at $140 million, suggesting an improvement of 70.73% from the year-ago reported figure.
The company’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, the average earnings surprise being 13.77%.
Factors to Note
Magnite’s fourth-quarter performance is likely to have benefited from a continued strong recovery in the digital advertising market.
Steady momentum across all formats and device types, which includes Connected Television (“CTV”), mobile, non-CTV video and display, might have aided the to-be-reported quarter’s performance.
Magnite is expected to have witnessed positive traction in the fourth quarter, courtesy of moving small advertisers over to CTV with respect to mid-market and regional campaigns.
The company's fourth-quarter top line is likely to reflect benefits from client wins like fuboTV (FUBO - Free Report) and Frndly TV.
Magnite, Inc. Price and EPS Surprise
Magnite, Inc. price-eps-surprise | Magnite, Inc. Quote
fuboTV and Frndly TV have selected Magnite as their preferred selling partner. The partnership between fuboTV and Magnite coincided with the launch of the 2021 football season as sports viewers migrated from linear TV to CTV.
The company is anticipated to have gained from increased cord-cutting and rising traction of ad-supported programmatic CTV, driven by a shift from direct sales to programmatic ad spending.
What Our Model Indicates
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. However, that is not the case here.
Magnite has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Zscaler (ZS - Free Report) has an Earnings ESP of +2.10% and a Zacks Rank #2. The company is scheduled to release second-quarter 2022 results on Feb 24. You can see the complete list of today’s Zacks #1 Rank stocks here.
Zscaler’s shares have gained 15.9% in the past year compared with the Zacks Internet – Services industry’s growth of 7.1%. The Zacks Computer and Technology Sector witnessed a rise of 1.1%.
Ambarella (AMBA - Free Report) has an Earnings ESP of +2.86% and a Zacks Rank #3. The company is scheduled to release fourth-quarter 2022 results on Feb 28.
Ambarella’s shares have returned 10.7% in the past year compared with the Zacks Electronics-Semiconductors industry’s rally of 6.5%. The Zacks Computer and Technology Sector witnessed a rise of 1.1%.