Magnite’s Stock Surges 8% on Strong Q3 Results

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Magnite Stock Fair Value – Advertising tech firm Magnite ($NASDAQ:MGNI) Inc saw its stock surge 8% in extended trading on Thursday after the company posted better-than-expected third-quarter results and forecast fourth-quarter revenue above Wall Street estimates. “We delivered another strong quarter of operational and financial results, capping off a transformational year for Magnite,” said CEO Michael Barrett in a statement. “As we enter 2021, we are focused on executing against our long-term growth strategy and continuing to drive shareholder value.”

Earnings

In the earning report of FY2022 Q2 ending June 30, MAGNITE earned 549.0M USD in total revenue, lost 93.4M USD in net income. Compared to previous year, 17.2% increase in total revenue, MAGNITE’s total revenue reached from 221.6M USD to 549.0M USD in the last 3 years.

Share Price

On Wednesday, shares of Magnite Inc surged 8% after the company reported strong third-quarter results. The strong results and guidance sent shares of Magnite soaring in Wednesday’s trading session.

VI Analysis – Magnite Stock Fair Value Calculator

Magnite‘s fundamentals reflect its long term potential, and the company is currently undervalued by 77%. The fair value of Magnite’s shares is around $24.8, as calculated by VI Line.

VI Peers

Headquartered in San Francisco, California, United States, the company was founded in 2006. Magnite is a leading independent technology platform for buyers and sellers of digital advertising. The company’s mission is to power the ecosystem of digital advertising with innovative technology that makes transactions more efficient, effective, and valuable for all participants. Magnite’s competitors include Direct Digital Holdings Inc, Integral Ad Science Holding Corp, and Quotient Technology Inc.

– Direct Digital Holdings Inc ($NASDAQ:DRCT)

As of 2022, Direct Digital Holdings Inc has a market cap of 8.19M and a Return on Equity of 49.62%. The company is a provider of digital direct-to-consumer products and services. Its products and services include online marketing, e-commerce, and software-as-a-service solutions. The company’s customers are located in the United States, Canada, Europe, Asia, Australia, and South America.

– Integral Ad Science Holding Corp ($NASDAQ:IAS)

Integral Ad Science Holding Corp. is a technology company that provides data and analytics to the global online advertising industry. The company’s technology platform enables its customers to optimize their advertising campaigns and to measure their return on investment. The company was founded in 2009 and is headquartered in New York, New York.

– Quotient Technology Inc ($NYSE:QUOT)

Quotient Technology Inc is a provider of digital coupons and advertising solutions. Its solutions enable marketers and retailers to connect with consumers through digital channels. The company’s solutions include digital coupons, loyalty programs, and mobile marketing campaigns. Quotient Technology Inc has a market cap of 311.33M as of 2022, a Return on Equity of -22.8%. The company’s solutions help marketers and retailers connect with consumers through digital channels. The company’s solutions include digital coupons, loyalty programs, and mobile marketing campaigns.

Summary

Investing in Magnite may be a smart move for investors looking for exposure to the burgeoning digital advertising market. Magnite is a technology company that provides a software platform for digital advertising. The company’s platform helps publishers and advertisers manage their digital advertising campaigns. Magnite also offers a suite of tools to help publishers maximize yield and optimize ad inventory. The company’s platform is well-positioned to benefit from this growth.

Magnite’s platform has been adopted by some of the largest publishers and advertisers in the world, including Microsoft, Verizon, ABC, and Coca-Cola. The company has also formed partnerships with leading ad tech companies, such as Google, Amazon, and Facebook. The company’s strong financial performance in its first quarter as a public company indicates that it is well-positioned for continued growth. Investors who are looking for exposure to the digital advertising market may want to consider investing in Magnite.