Magnite Inc. (MGNI) Shares Soar 3.72% on Institutional Buying, Analyst Upgrades Push Intraday High

Magnite Inc. (MGNI) shares surged 3.72% on Tuesday, marking the second consecutive day of gains and pushing the stock to a 5.49% increase over the past two trading sessions. The equity reached an intraday high of $25.19, its highest level since August 2025, driven by renewed institutional interest and upgraded analyst sentiment.

Strong institutional buying activity has underpinned the recent momentum. The Swiss National Bank bolstered its position by 9.1% in Q1 2025, while MCF Advisors LLC and GAMMA Investing LLC saw stake increases of 2,100% and 10,170%, respectively. These moves reflect confidence in Magnite’s long-term growth trajectory, with institutional investors collectively holding 73.4% of outstanding shares. Analysts have also signaled optimism, with multiple firms raising price targets following the company’s Q2 earnings beat and revenue growth exceeding forecasts.

Recent upgrades from major banks further reinforced the positive outlook. Scotiabank and Royal Bank of Canada raised price targets to $30.00 and $27.00, respectively, while Benchmark and Needham & Company LLC set new targets above $25. Despite a modest insider selling activity in August, the broader market narrative remains bullish, supported by Magnite’s leadership in programmatic advertising and strategic partnerships with industry giants like Netflix.

Valuation metrics highlight Magnite’s premium positioning, with a P/E ratio of 87.02 and a beta of 3.05 indicating high volatility but strong growth expectations. The stock’s year-to-date gain of 60.6% has outpaced its sector peers, reflecting its dominant role in the digital advertising ecosystem. While short-term volatility persists, institutional and analyst consensus suggests sustained demand for the company’s technology across connected TV, online video, and audio platforms.