On 2/27/24, Magnite Inc (NASDAQ: MGNI) stock enjoyed a major increase of 17.9%, closing at $11.52. Moreover, exceptionally high trading volume at 314% of normal accompanied the advance. The stock has been weak relative to the market over the last nine months but has risen 10.7% during the last week.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to exceed the cost of capital, MGNI is expected to continue to be a modest Value Builder.
Magnite has a current Value Trend Rating of D (Negative). The Value Trend Rating reflects contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Magnite has a slightly positive Appreciation Score of 67 but a poor Power Rating of 18, with the Negative Value Trend Rating the result.
Rating Review
In light of this very positive price change we are reviewing our current Overall Rating of D. This review will be completed in the next several days.
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