Needham Sees Magnite As Primary Beneficiary Of Netflix, Disney+ Adding Ad-Driven Streaming Tiers

Needham  analyst Laura Martin maintained Magnite, Inc  (NASDAQ: MGNI ) with a Buy  and cut the price target from $25 to $13 (51% upside). Macro upside value drivers include an economic recovery and rapidly growing digital and programmatic ad revenues in 2022.  Martin listed the reasons behind MGNI being her favorite. Firstly, MGNI included video and CTV having the highest pay-outs to MGNI, and the SpotX acquisition supercharges CTV and video revenue growth. Secondly, MGNI got paid based on a percentage of total ad spending, and experts projected rapid U.S. programmatic ad growth in 2022. Thirdly, COVID-19 accelerated consumers' digital ... Full story available on Benzinga.com