Magnite, Inc. operates an independent sell-side advertising platform in the United States and internationally. The company's advertising platform enables publishers to monetize various screens and formats, including CTV, desktop display, video, audio, and mobile, as well as allows agencies and brands to access brand-safe ad inventory and execute advertising transactions. It markets its technology solutions to buyers and sellers through a sales teams that operate from various locations. The company was formerly known as The Rubicon Project, Inc. and changed name to Magnite, Inc. in July 2020. Magnite, Inc. was incorporated in 2007 and is headquartered in Los Angeles, California.
IPO Year:
Exchange: NASDAQ
Website: magnite.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 12/5/2024 | $17.00 → $20.00 | Buy | Needham |
| 12/5/2024 | $22.00 | Sector Outperform | Scotiabank |
| 10/29/2024 | $13.00 | Equal Weight | Wells Fargo |
| 7/25/2024 | $21.00 | Buy | Lake Street |
| 7/16/2024 | $16.00 | Outperform | Wolfe Research |
| 5/24/2024 | $13.00 → $15.00 | Neutral → Buy | BofA Securities |
| 4/19/2024 | $14.50 | Buy | B. Riley Securities |
| 1/11/2024 | $11.00 | Neutral | BofA Securities |
| 8/16/2023 | $11.00 → $14.00 | In-line → Outperform | Evercore ISI |
| 4/13/2023 | $15.00 | Buy | B. Riley Securities |
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Total Revenue Grows 8% & Contribution ex-TAC(1) Grows 12% Year-Over-Year Contribution ex-TAC(1) from CTV Grows 23% Year-Over-Year NEW YORK, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Magnite (NASDAQ:MGNI), the world's largest independent sell-side advertising company, today reported its results of operations for the quarter ended September 30, 2024. Q3 2024 Highlights: Supported Netflix's initial programmatic CTV ad launchRevenue of $162.0 million, up 8% year-over-yearContribution ex-TAC(1) of $149.4 million, up 12% year-over-yearContribution ex-TAC(1) attributable to CTV of $64.4 million, up 23% year-over-year, compared to guidance of $62.0 to $64.0 millionContribution ex-TAC(1) attrib
NEW YORK, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Magnite (NASDAQ:MGNI), the world's largest independent sell-side advertising company, will announce its financial results for the third quarter ended September 30, 2024 after the market close on Thursday, November 7, 2024. The Company will host a conference call at 1:30 PM (PT) / 4:30 PM (ET) the same day to discuss its financial results and outlook. Live conference call Toll free number:(844) 875-6911 (for domestic callers)Direct dial number:(412) 902-6511 (for international callers)Passcode:Ask to join the Magnite conference callSimultaneous audio webcast:http://investor.magnite.com, under "Events and Presentations" Conference call replay Toll
Total Revenue Grows 7% & Contribution ex-TAC(1) Grows 9% Year-Over-Year Contribution ex-TAC(1) from CTV Grows 12% Year-Over-Year NEW YORK, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Magnite (NASDAQ:MGNI), the world's largest independent sell-side advertising company, today reported its results of operations for the quarter ended June 30, 2024. Q2 2024 Highlights: Revenue of $162.9 million, up 7% year-over-yearContribution ex-TAC(1) of $146.8 million, up 9% year-over-yearContribution ex-TAC(1) attributable to CTV of $63.0 million, up 12% year-over-year, compared to guidance of $59.0 to $61.0 millionContribution ex-TAC(1) attributable to DV+ of $83.8 million, up 7% year-over year, compared to gui
NEW YORK, July 08, 2024 (GLOBE NEWSWIRE) -- Magnite (NASDAQ:MGNI), the world's largest independent sell-side advertising company, will announce its financial results for the second quarter ended June 30, 2024 after the market close on Wednesday, August 7, 2024. The Company will host a conference call at 1:30 PM (PT) / 4:30 PM (ET) the same day to discuss its financial results and outlook. Live conference call Toll free number: (844) 875-6911 (for domestic callers)Direct dial number: (412) 902-6511 (for international callers)Passcode: Ask to join the Magnite conference callSimultaneous audio webcast: http://investor.magnite.com, under "Events and Presentations" Conference call replay
Total Revenue Grows 15% & Contribution ex-TAC(1) Grows 12% Year-Over-Year Contribution ex-TAC(1) from CTV Grows 18% Year-Over-Year NEW YORK, May 08, 2024 (GLOBE NEWSWIRE) -- Magnite (NASDAQ:MGNI), the world's largest independent sell-side advertising company, today reported its results of operations for the quarter ended March 31, 2024. Q1 2024 Highlights: Revenue of $149.3 million, up 15% year-over-yearContribution ex-TAC(1) of $130.6 million, up 12% year-over-yearContribution ex-TAC(1) attributable to CTV of $54.9 million, up 18% year-over-year, compared to guidance of $49.0 to $51.0 millionContribution ex-TAC(1) attributable to DV+ of $75.7 million, up 9% year-over year, compared to
NEW YORK, April 08, 2024 (GLOBE NEWSWIRE) -- Magnite (NASDAQ:MGNI), the world's largest independent sell-side advertising company, will announce its financial results for the first quarter ended March 31, 2024 after the market close on Wednesday, May 8, 2024. The Company will host a conference call at 1:30 PM (PT) / 4:30 PM (ET) the same day to discuss its financial results and outlook. Live conference call Toll free number:(844) 875-6911 (for domestic callers)Direct dial number:(412) 902-6511 (for international callers)Passcode:Ask to join the Magnite conference callSimultaneous audio webcast:http://investor.magnite.com, under "Events and Presentations" Conference call replay Toll free
Total Revenue up 7% & Contribution ex-TAC(1) up 6% in Fourth Quarter Adjusted EBITDA Margin(2) of 43% in Fourth Quarter Full-Year 2023 CTV Ad Spend(3) Growth Over 20% NEW YORK, Feb. 28, 2024 (GLOBE NEWSWIRE) -- Magnite (NASDAQ:MGNI), the world's largest independent sell-side advertising company, today reported its results of operations for the fourth quarter and year ended December 31, 2023. Recent Highlights: Revenue of $186.9 million for Q4 2023, up 7% from Q4 2022Contribution ex-TAC(1) of $165.3 million for Q4 2023, exceeded guidance of $158 to $162 million, and was up 6% from Q4 2022Contribution ex-TAC(1) attributable to CTV for Q4 2023 was $63.5 million, exceeded guidance of $61
NEW YORK, Jan. 24, 2024 (GLOBE NEWSWIRE) -- Magnite (NASDAQ:MGNI), the world's largest independent sell-side advertising company, will announce its financial results for the fourth quarter ended December 31, 2023 after the market close on Wednesday, February 28, 2024. The Company will host a conference call at 1:30 PM (PT) / 4:30 PM (ET) the same day to discuss its financial results and outlook. Live conference call Toll free number: (844) 875-6911 (for domestic callers)Direct dial number: (412) 902-6511 (for international callers)Passcode: Ask to join the Magnite conference callSimultaneous audio webcast http://investor.magnite.com, under "Events and Presentations" Conference call r
Total Revenue Grows 3% & Contribution ex-TAC(1) Grows 4% Year-Over-Year CTV Share Gains Continue & Market Position Strengthens with Ad Spend(2) Growth Over 20% NEW YORK, Nov. 08, 2023 (GLOBE NEWSWIRE) -- Magnite (NASDAQ:MGNI), the world's largest independent sell-side advertising company, today reported its results of operations for the quarter ended September 30, 2023. Q3 2023 Highlights: Revenue of $150.1 million, up 3% year-over-yearContribution ex-TAC(1) of $133.1 million, up 4% year-over-yearContribution ex-TAC(1) attributable to CTV of $52.5 million, down 6% year-over-year, compared to guidance of $50.0 to $52.0 millionContribution ex-TAC(1) attributable t
NEW YORK, Oct. 05, 2023 (GLOBE NEWSWIRE) -- Magnite (NASDAQ:MGNI), the world's largest independent sell-side advertising company, will announce its financial results for the third quarter ended September 30, 2023 after the market close on Wednesday, November 8, 2023. The Company will host a conference call at 1:30 PM (PT) / 4:30 PM (ET) the same day to discuss its financial results and outlook. Live conference call Toll free number:(844) 875-6911 (for domestic callers)Direct dial number:(412) 902-6511 (for international callers)Passcode:Ask to join the Magnite conference callSimultaneous audio webcasthttp://investor.magnite.com, under "Events and Presentations" Conference call replay Toll
Needham reiterated coverage of Magnite with a rating of Buy and set a new price target of $20.00 from $17.00 previously
Scotiabank initiated coverage of Magnite with a rating of Sector Outperform and set a new price target of $22.00
Wells Fargo initiated coverage of Magnite with a rating of Equal Weight and set a new price target of $13.00
Lake Street initiated coverage of Magnite with a rating of Buy and set a new price target of $21.00
Wolfe Research initiated coverage of Magnite with a rating of Outperform and set a new price target of $16.00
BofA Securities upgraded Magnite from Neutral to Buy and set a new price target of $15.00 from $13.00 previously
B. Riley Securities resumed coverage of Magnite with a rating of Buy and set a new price target of $14.50
BofA Securities initiated coverage of Magnite with a rating of Neutral and set a new price target of $11.00
Evercore ISI upgraded Magnite from In-line to Outperform and set a new price target of $14.00 from $11.00 previously
B. Riley Securities initiated coverage of Magnite with a rating of Buy and set a new price target of $15.00
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SINGAPORE, Jan. 15, 2025 (GLOBE NEWSWIRE) -- Magnite (NASDAQ:MGNI), the largest independent sell side advertising company, announced it has strengthened its partnership with Samsung Ads to power programmatic advertising on Samsung TV Plus inventory in Singapore, the Philippines and Thailand for the first time. Advertisers now have programmatic access to premium video inventory on Samsung's free ad-supported streaming TV (FAST) service, Samsung TV Plus, which went live across the Southeast Asia region late last year. Samsung TV Plus is now available on millions of Samsung Smart TVs across Singapore, the Philippines, and Thailand. The built-in streaming service delivers free, instant access
LONDON, Jan. 14, 2025 (GLOBE NEWSWIRE) -- Magnite (NASDAQ:MGNI), the world's largest independent sell-side advertising company, today announced its selection as FIFA+'s global programmatic provider. Magnite will power video and display advertising on FIFA+ across North America, EMEA, LATAM, and APAC. The collaboration marks another important step in FIFA+'s efforts to revolutionize the football streaming experience for fans worldwide, bringing previously non-televised games to audiences for free. FIFA+ will leverage Magnite's industry-leading product suite including Magnite Streaming, SpringServe and Magnite DV+, to monetize their content on a global scale and bring a superior viewing e
NEW YORK and BOCA RATON, Fla., Jan. 07, 2025 (GLOBE NEWSWIRE) -- Magnite (NASDAQ:MGNI), the largest independent sell-side advertising company, and Playwire, a global technology company specializing in ad monetization for web publishers, today announced a strategic partnership to bring Playwire's Flex Suite creative formats to programmatic buyers exclusively through Magnite. The collaboration enables advertisers to programmatically access Playwire's suite of high-impact ad formats, including Flex Video, Flex Skin, and Flex Rail, across a wide network of pre-certified publishers. These formats are designed to deliver superior performance through enhanced viewability and engagement while mai
NEW YORK, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Magnite (NASDAQ:MGNI), the largest independent sell-side advertising company, today announced that members of its executive team will host in-person investor meetings at the Needham 27th Annual Growth Conference in New York City on Wednesday, January 15. Company management will participate in a fireside chat at 11:00 a.m ET. A live webcast of the fireside chat will be available in the "Events & Presentations" section of Magnite's investor relations website at: https://investor.magnite.com. The webcast replay will be available following the conclusion of the live presentation for 90 days. About Magnite We're Magnite (NASDAQ:MGNI), the world's l
SINGAPORE and MUMBAI, India, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Magnite (NASDAQ:MGNI), the largest independent sell-side advertising company, announced the expansion of Magnite Audiences and its debut in India and Southeast Asia. The solution empowers publishers to unlock the full value of their audiences, while helping buyers connect with high value audiences at scale. Magnite Audiences sits within the Magnite Access suite, a collection of audience and addressability tools purpose-built for publishers and buyers to maximise the value of their data assets. Magnite Audiences' standardised, scalable segments based on publisher first-party data enable publishers to monetise their audiences an
NEW YORK, Dec. 11, 2024 (GLOBE NEWSWIRE) -- Magnite (NASDAQ:MGNI), the world's largest independent sell-side advertising platform, today announced the promotion of two key leaders, to further sharpen the company's strategic focus, drive innovation, and accelerate its momentum in the market. Sean Buckley has been promoted to President, Revenue and Katie Evans has been promoted to President, Operations. Mr. Buckley and Ms. Evans will continue to report to CEO, Michael Barrett. "Sean and Katie have had an enormously positive impact on Magnite's development," said Michael Barrett, CEO of Magnite. "The Board and I have great confidence in their leadership, and these promotions will enhance the
NEW YORK, Dec. 10, 2024 (GLOBE NEWSWIRE) -- Magnite (NASDAQ:MGNI), the largest independent sell-side advertising company, and LG Ad Solutions, a leader in connected TV (CTV) and cross-screen advertising, announced a renewal of their global relationship, spanning North America, APAC, and EMEA. The partnership achieved substantial growth over the past two years which saw LG Ad Solutions' programmatic spend grow 103% on the Magnite Streaming SSP. LG Ad Solutions is leveraging Magnite's SpringServe ad server to power several new activations, including its webOS all-in-one smart platform. This combination delivers an all-in-one smart platform enabling the delivery of highly tailored ad experie
SINGAPORE, Dec. 02, 2024 (GLOBE NEWSWIRE) -- Magnite (NASDAQ:MGNI), the largest independent sell-side advertising company, announced that WeTV has selected Magnite's ad tech stack to enhance monetisation of its video inventory. WeTV will leverage the BidLink solution within Magnite's SpringServe ad server to scale programmatically, while the Magnite Streaming and DV+ SSPs will help WeTV earn the full value of their inventory. Having launched in Southeast Asia in 2019, WeTV delivers premium Chinese dramas, variety shows, anime, as well as original and local content across the region and continues to grow exponentially year over year as streaming becomes a mainstay in consumer budgets. Mag
NEW YORK, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Magnite (NASDAQ:MGNI), the largest independent sell-side advertising company, announced TCL, one of the world's best-selling consumer electronics brands and leading technology companies, has selected Magnite to elevate its streaming strategy and strengthen its ad-supported business. TCL will use Magnite's SpringServe ad server to enhance the viewer experience and leverage Magnite's streaming platform to capture the value of their premium inventory. For two consecutive years, TCL has upheld its second-place standing in both the global and US TV market by brand, shipping a total of 25.26 million TV units in 2023, securing a 12.5% market share. T
Total Revenue Grows 8% & Contribution ex-TAC(1) Grows 12% Year-Over-Year Contribution ex-TAC(1) from CTV Grows 23% Year-Over-Year NEW YORK, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Magnite (NASDAQ:MGNI), the world's largest independent sell-side advertising company, today reported its results of operations for the quarter ended September 30, 2024. Q3 2024 Highlights: Supported Netflix's initial programmatic CTV ad launchRevenue of $162.0 million, up 8% year-over-yearContribution ex-TAC(1) of $149.4 million, up 12% year-over-yearContribution ex-TAC(1) attributable to CTV of $64.4 million, up 23% year-over-year, compared to guidance of $62.0 to $64.0 millionContribution ex-TAC(1) attrib
SYDNEY, Australia, Aug. 01, 2023 (GLOBE NEWSWIRE) -- Magnite (NASDAQ:MGNI), the world's largest independent sell-side advertising company, has announced that Yael Milbank has been appointed to the newly created role of Managing Director, Australia and New Zealand. Yael brings over 20 years of experience across both markets to the role, having most recently served as Magnite's Managing Director, New Zealand. Prior to this, he held roles at TVNZ and TradeMe, managing key relationships with publishers and agencies. Yael is tasked with accelerating Magnite's commercial growth in the ANZ market at a time when 90% of digital display and video dollars in the market are set to be transacted pro
Opening of a Stockholm location will support further growth in the region STOCKHOLM, April 04, 2023 (GLOBE NEWSWIRE) -- Magnite (NASDAQ:MGNI), the largest independent sell-side advertising company, today announced the appointment of Natasha Westlund as the Head of Nordics and the opening of a new office in Stockholm, which will serve as the company's base across Sweden, Denmark, Norway, and Finland. As Head of Nordics, Natasha is the commercial lead across both seller and buyer teams building the company's business in the region. Natasha is based in the company's Stockholm office and reports to Magnite's SVP Head of EMEA Julie Selman. "We are investing resources to further support publis
NEW YORK, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Magnite (NASDAQ:MGNI), the world's largest independent sell-side advertising platform, today announced the appointment of David Buonasera as its Chief Technology Officer. Buonasera joined Magnite in 2021 when the company acquired SpringServe, the video ad serving platform he co-founded. Most recently, Buonasera has led Magnite's engineering efforts for CTV and served as a member of the company's Office of the CTO. In his new role, he will oversee Magnite's global technology organization, platforms, and infrastructure, reporting to its President and CEO, Michael Barrett. "David is a phenomenal leader and technologist," said Barrett. "For nearly t
Leon Siotis appointed as SpringServe's Head of International SpringServe records 140% growth in publisher revenue in international markets in first three quarters of 2021 LONDON, Dec. 01, 2021 (GLOBE NEWSWIRE) -- SpringServe, the leading independent ad serving platform, announced today the appointment of Leon Siotis as Head of International. Leon was formerly the President of EMEA at SpotX. In this role, Leon will spearhead SpringServe's efforts outside of the US, working to ensure global publishers have access to the right technology to keep pace with the acceleration in CTV and online video (OLV) ad spend growth. The news follows SpringServe's acquisition by Magnite (NASDAQ:MGNI), the
SEATTLE, Aug. 16, 2021 (GLOBE NEWSWIRE) -- Porch Group, Inc. ("Porch" or "the Company") (NASDAQ:PRCH), a leading vertical software company reinventing home services, announced today that Rachel Lam and Maurice Tulloch have been appointed to its Board of Directors, effective August 12, 2021. Thomas Hennessy and Margaret Whelan, directors of the former special purpose acquisition corporation (SPAC) PropTech Acquisition Corporation (PTAC), simultaneously concluded their service on Porch's Board after helping guide Porch through a successful transition into the public markets. "With solid performance in the public markets thus far since our December 2020 de-SPAC transaction, we felt it was th
NEW YORK, April 08, 2021 (GLOBE NEWSWIRE) -- DoubleVerify ("DV"), a leading software platform for digital media measurement, data and analytics, today announced the appointment of Doug Campbell as Chief Strategy Officer. In his role, Campbell will be responsible for global strategy and corporate development. He will report to Mark Zagorski, CEO of DoubleVerify. “I’m excited to add Doug to our outstanding senior leadership team,” said Zagorski. "From Magnite to Nielsen, he has demonstrated a track record of success and achievement, and brings exceptional experience and knowledge to the Chief Strategy Officer role. I look forward to Doug’s leadership as we continue to build momentum, expan