Benchmark Co. analyst Daniel Kurnos has maintained their bullish stance on MGNI stock, giving a Buy rating on September 6.
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Daniel Kurnos has given his Buy rating due to a combination of factors that highlight Magnite’s strong growth potential and strategic positioning in the market. The company is benefiting from organic growth drivers, particularly in the Connected TV (CTV) and Digital Video Plus (DV+) segments, where it is expected to capture additional market share. Magnite’s financial health is robust, with a balance sheet that is on track to be debt-free and a share buyback program in progress, which further enhances shareholder value.
Moreover, the company is well-positioned to capitalize on the shifting trends in the advertising industry, such as the increasing move towards programmatic channels. The potential positive outcomes from ongoing legal proceedings involving Google could also provide additional upside for Magnite. These factors, combined with a stable and optimistic market environment, underpin Kurnos’s confidence in Magnite’s future performance, making it one of his top investment ideas.
In another report released on September 6, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $28.00 price target.