Magnite Shares Soar 4.70% on Amazon Partnership

Magnite (MGNI) shares surged 4.70%, reaching their highest level since February 2025, with an intraday gain of 11.62%.

The strategy of buying Magnite (MGNI) shares after they reached a recent high and holding for 1 week yielded moderate returns over the past 5 years, with a 7.77% annualized gain. This approach capitalized on the stock's momentum following its peak, though the returns were somewhat volatile, with a maximum drawdown of 16.23%. Overall, the strategy showed resilience in declining markets, with a sharp recovery post-market low in 2023, highlighting its potential in volatile environments.

Magnite's recent stock price increase can be largely attributed to its expanded partnership with Amazon Publisher Services (APS). This collaboration is set to bolster Magnite's presence in the streaming TV advertising market, providing a significant boost to its market position and growth prospects. The partnership is expected to drive increased revenue and market share for Magnite, as it leverages APS's extensive reach and technological capabilities.

In addition to the strategic partnership, Magnite's stock price has also benefited from a positive outlook from analysts. Craig-Hallum recently raised its price target for Magnite from $20 to $24, reflecting a bullish sentiment towards the company's future performance. This upward revision in the price target underscores the confidence in Magnite's ability to capitalize on the growing demand for streaming TV advertising and deliver strong financial results.