Here's Why Magnite (MGNI) Is a Great 'Buy the Bottom' Stock Now
Magnite (MGNI) witnesses a hammer chart pattern, indicating support found by the stock after losing some value lately. This coupled with an upward trend in earnings estimate revisions could mean a trend reversal for the stock in the near term.
Why Magnite Was Sliding Today
Magnite's revenue-growth rate slowed to 7%, and it missed earnings estimates. Investors seemed to expect more from a new deal with Netflix.
Magnite (MGNI) Q2 Earnings Match Estimates
Magnite (MGNI) came out with quarterly earnings of $0.14 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.09 per share a year ago.
Why Magnite Stock Jumped 40% Last Month
Magnite's growth rate is picking up, and new partnerships could help it sustain recent growth. Media companies are increasingly consolidating their software providers to bigger companies, and Magnite is one of the biggest there is.
Here's Why Magnite Stock Is Jumping Today
One analyst is recommending that investors buy Magnite stock in light of the company's recent partnerships. Connected-TV revenue is quickly approaching a majority of its business, and it could carry the stock to further gains as adoption grows.
Why Magnite Stock Rocketed Higher on Thursday
Streaming pioneer Netflix unveiled plans to bring its advertising in-house. The company said it will partner with Magnite, among others.
