Magnite Inc (NASDAQ: MGNI) stock enjoyed a major increase of 13.6% on 5/24/24. The shares closed at $12.57. Moreover, this advance was accompanied by exceptionally high trading volume at 231% of normal. The stock has been exceptionally strong relative to the market over the last nine months and has risen 4.8% during the last week.
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 17 but a good Power Rating of 82, triggering 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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