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 Q3 regulatory filings by fund managers ($100M+ AUM)
37% more repeat investments, than reductions
Existing positions increased: 104 | Existing positions reduced: 76
25% more first-time investments, than exits
New positions opened: 45 | Existing positions closed: 36
18% more capital invested
Capital invested by funds: $1.4B [Q2] → $1.65B (+$252M) [Q3]
9.36% more ownership
Funds ownership: 75.02% [Q2] → 84.38% (+9.36%) [Q3]
3% more funds holding
Funds holding: 267 [Q2] → 276 (+9) [Q3]
6% more call options, than puts
Call options by funds: $51.1M | Put options by funds: $48.2M
10% less funds holding in top 10
Funds holding in top 10: 10 [Q2] → 9 (-1) [Q3]
Research analyst outlook
6 Wall Street Analysts provided 1 year price targets over the past 3 months
6 analyst ratings
Scotiabank Nat Schindler 36% 1-year accuracy 4 / 11 met price target | 35%upside $22 | Sector Outperform Initiated | 5 Dec 2024 |
Needham Laura Martin 77% 1-year accuracy 252 / 328 met price target | 22%upside $20 | Buy Maintained | 5 Dec 2024 |
Macquarie Tim Nollen 71% 1-year accuracy 29 / 41 met price target | 10%upside $18 | Outperform Maintained | 8 Nov 2024 |
Wells Fargo Alec Brondolo 60% 1-year accuracy 3 / 5 met price target | 20%downside $13 | Equal-Weight Initiated | 28 Oct 2024 |
Benchmark Daniel Kurnos 62% 1-year accuracy 48 / 78 met price target | 29%upside $21 | Buy Reiterated | 2 Oct 2024 |
Financial journalist opinion
Based on 5 articles about MGNI published over the past 30 days
