Needham raised the firm’s price target on Magnite (MGNI) to $18 from $14 and keeps a Buy rating on the shares. The firm is positive on the company integrating SpringServe ad server into its SSP platform to create a new “mediation layer” that enables holistic yield management, advanced targeting, and new CTV ad formats, as well as the strong current ad trends, with minimal negative impact from tariffs so far, the analyst tells investors in a research note.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MGNI:
- Pinterest deal the ‘bow on Magnite’s quarter,’ says Benchmark
- Magnite’s Earnings Call Highlights Growth Amid Challenges
- Magnite price target lowered to $18.50 from $21.50 at B. Riley
- Magnite price target lowered to $24 from $25 at Benchmark
- Magnite price target lowered to $19 from $21 at Lake Street