MagniteMGNI
About: Magnite is one of the largest supply-side platform providers, or SSP, in online advertising. The firm was previously named The Rubicon Project (an online ad exchange) and became Magnite after merging with Telaria (an SSP focused mainly on streaming video providers) in 2020. The firm also purchased another of the leading SSPs within the CTV market, SpotX, in 2021 for $1.2 billion, cementing its long-term focus on grabbing market share in this area. The firm generates nearly 45% of its revenue from the programmatic sale of CTV ad inventory, 35% from mobile online sites and apps, and the remaining from websites accessed via computer.
Employees: 911
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
122% more first-time investments, than exits
New positions opened: 71 | Existing positions closed: 32
63% more repeat investments, than reductions
Existing positions increased: 103 | Existing positions reduced: 63
25% more capital invested
Capital invested by funds: $1.11B [Q1] → $1.39B (+$277M) [Q2]
17% more funds holding
Funds holding: 228 [Q1] → 267 (+39) [Q2]
11% more funds holding in top 10
Funds holding in top 10: 9 [Q1] → 10 (+1) [Q2]
5% more call options, than puts
Call options by funds: $38.5M | Put options by funds: $36.5M
0.75% more ownership
Funds ownership: 73.76% [Q1] → 74.51% (+0.75%) [Q2]
Research analyst outlook
9 Wall Street Analysts provided 1 year price targets over the past 3 months
9 analyst ratings
Benchmark Daniel Kurnos 65% 1-year accuracy 36 / 55 met price target | 72%upside $21 | Buy Reiterated | 2 Oct 2024 |
Needham Laura Martin 60% 1-year accuracy 71 / 119 met price target | 23%upside $15 | Buy Reiterated | 2 Oct 2024 |
RBC Capital Matthew Hedberg 63% 1-year accuracy 62 / 99 met price target | 55%upside $19 | Outperform Reiterated | 27 Sept 2024 |
Benchmark Daniel Kurnos 65% 1-year accuracy 36 / 55 met price target | 72%upside $21 | Buy Reiterated | 18 Sept 2024 |
Craig-Hallum Jason Kreyer 63% 1-year accuracy 15 / 24 met price target | 63%upside $20 | Buy Maintained | 21 Aug 2024 |
Financial journalist opinion
Based on 6 articles about MGNI published over the past 30 days