Stock Rating Downgrade
The Value Trend Rating for Magnite Inc (NASDAQ: MGNI) weakened in recent days from B to C reflecting eroding fundamentals and low Appreciation Potential. Details supporting this lower rating are included in our next report.
Recent Price Action
On 8/16/24, Magnite Inc (NASDAQ: MGNI) stock rose slightly by 0.2%, closing at $12.54. However, trading volume in this advance was unusually low at 63% of normal. The stock has declined -1.6% during the last week but 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 (High 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 28 but a very high Power Rating of 93, leading to the High Neutral Value Trend Rating.
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