Magnite: Benchmark Reiterates Buy, Raises PT to $31 from $30

Magnite: Benchmark Reiterates Buy, Raises PT to $31 from $30

Magnite, Inc. (MGNI), a leading independent sell-side advertising company, has received a positive update from Benchmark Securities, which has reiterated its "Buy" rating and raised its price target from $30 to $31 [1]. The new target represents a 3.33% increase from the previous price target.

The updated recommendation follows Magnite's strong performance in the second quarter of 2025, where the company reported a 10% year-over-year growth in contribution ex-TAC (1) and a 14% growth in contribution ex-TAC (1) from CTV [2]. These robust earnings figures underscore Magnite's dominance in the connected television (CTV) and digital video advertising (DV+) markets.

Benchmark Securities' positive outlook is supported by Magnite's strategic partnerships and technological advancements. The company recently announced collaborations with REMAX and Redfin to expand its high-value audiences and unlock new advertising channels [3, 4]. Additionally, Magnite's integration of the Anoki ContextIQ platform and AI Copilot has enabled scene-level targeting in CTV advertising, further enhancing its value proposition [5].

Investors should also note the recent increase in stock price and trading volume, which indicates growing interest in Magnite's stock. The stock price gained 0.49% on August 6, 2025, rising from $22.37 to $22.48, and the volume increased by 846,000 shares compared to the previous day [6]. This positive trend is expected to continue, with some analysts forecasting a 58.96% rise in the stock price over the next three months [7].

Despite the positive outlook, investors should remain cautious, as there are some negative signals from short and long-term moving averages, which may indicate potential resistance levels at $22.57 and $22.56 [7]. Furthermore, a sell signal was issued from a pivot top point on Wednesday, July 2, 2025, indicating a potential downtrend until a new bottom pivot is found [7].

In conclusion, Benchmark Securities' updated rating and price target reflect Magnite's strong performance and strategic positioning in the digital advertising market. However, investors should monitor the stock's technical signals and remain vigilant about potential resistance levels.

References:
[1] https://stockinvest.us/stock/MGNI
[2] https://stockanalysis.com/stocks/mgni/
[3] https://globenewswire.com/news-release/2025/08/06/18000000000/globe-newswire-magnite-reports-second-quarter-2025-results.html
[4] https://globenewswire.com/news-release/2025/07/14/18000000000/globe-newswire-paramount-australia-partners-with-magnite-to-unlock-programmatic-access-to-the-paramount-ad-tier.html
[5] https://globenewswire.com/news-release/2025/06/14/18000000000/globe-newswire-magnite-integrates-anoki-contextiq-platform-and-ai-copilot-to-bring-scene-level-targeting-to-ctv.html
[6] https://stockinvest.us/stock/MGNI
[7] https://stockinvest.us/stock/MGNI