Magnite Gets Price-Target Hikes After Google Ad-Tech Ruling — Why Analysts See A Win For Independent Ad Tech

• StoneX raised Magnite to $43 from $33, with Daniel Kurnos highlighting Prebid’s role.
• Craig-Hallum raised its target to $32 from $28, calling the ruling a major win for independent ad tech.
• The firm highlighted 60-day compliance and six years of monitoring as key positives for Magnite.

Magnite Inc. (MGNI) drew fresh analyst attention after the release of the full remedies opinion in Google’s ad-tech antitrust case, with StoneX and Craig-Hallum both raising their price targets on the independent sell-side advertising platform, according to TheFly.

StoneX analyst Daniel Kurnos raised his price target on MGNI stock to $43 from $33 and maintained a ‘Buy’ rating. The market and coverage of the ruling are still “underselling how central Prebid is” to the outcome, he said. 

Prebid is an open-source technology that allows publishers to connect with competing advertising platforms rather than relying solely on Google’s ecosystem.

MGNI stock was up over 6% on Thursday and was among the trending tickers on Stocktwits.

Google Ordered To Open Parts Of Its Ad-Tech Stack

U.S. District Judge Leonie Brinkema recently ordered Alphabet Inc.’s Google (GOOG, GOOGL) to relax rules governing its online advertising auctions and make its technology work more effectively with rival platforms.

The court stopped short of forcing Google to sell its AdX advertising exchange, as the Department of Justice requested, but ordered changes including separating aspects of Google’s publisher ad server from AdX. 

A compliance monitor will oversee the remedies for six years. Google plans to appeal parts of the ruling.

Craig-Hallum Sees A Major Win For Independent Ad-Tech

Separately, Craig-Hallum also reiterated a ‘Buy’ rating on the stock and raised its Magnite price target to $32 from $28. The firm described the outcome for independent sell-side platforms as somewhere between a “home run” and a “grand slam,” according to TheFly.

It specifically pointed to the 60-day implementation window, arguing that the short timeline makes the ruling more meaningful from a discounted cash flow perspective.

Craig-Hallum also highlighted the six-year technical monitoring period, which it believes will help prevent Google from creating workarounds to the remedies, per TheFly.

Retail Sentiment Around MGNI Stock

Retail investor sentiment surrounding MGNI stock was ‘bullish’ on Stocktwits amid 'high' message volume.

So far this year, Magnite shares have risen more than 57%. 

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