Magnite Inc (NASDAQ: MGNI) stock closed at $11.99 on 5/16/24 after a major increase of 22.3%. Moreover, trading volume in this advance was exceptionally high at 892% of normal. The stock has risen 34.7% during the last week and has been exceptionally strong relative to the market over the last nine months.
Current PriceTarget Research Rating
MGNI is expected to continue to be a major Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Magnite has a current Value Trend Rating of C (Neutral). The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Magnite has a poor Appreciation Score of 24 but a good Power Rating of 79, leading to the Neutral Value Trend Rating.
Rating Review
In light of this very positive price change we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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