Magnite Inc (NASDAQ: MGNI) stock suffered a major decline of -10.8% on 10/1/24. The shares closed at $12.36. Moreover, this decline was accompanied by exceptionally high trading volume at 400% of normal. The stock has declined -5.2% 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 (Neutral). This rating combines very contradictory signals from two proprietary PTR measures of a stock’s attractiveness. Magnite has a poor Appreciation Score of 17 but a good Power Rating of 85, and the Neutral Value Trend Rating results.
Rating Review
In light of this highly negative 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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