Positive

From Nasdaq: 2025-01-03 10:42:00

Magnite’s MGNI shares have surged 30.9% in the past three months, outperforming the Computer and Technology sector by 25.4% and the Internet – Software industry by 26.9%. MGNI has also outperformed peers like Amazon, Alphabet, and Microsoft, with gains ranging from 0.6% to 18.1% in the same period.

MGNI attributes its success to growth in the Connected TV segment, strategic partnerships with industry leaders, and the success of ClearLine, its self-service platform. Excluding Traffic Acquisition Costs, CTV contributions increased by 23% YoY in Q3 2024. Strategic partnerships with Netflix and Disney further strengthen MGNI’s market position.

The Zacks Consensus Estimate for MGNI’s Q4 2024 earnings is 35 cents per share, with revenues estimated at $184.11 million, indicating 11.39% YoY growth. Full-year 2024 earnings are estimated at 71 cents per share, with revenues estimated at $610.85 million. MGNI has a history of beating earnings estimates, with an average surprise of 197.40%.

MGNI has strong growth prospects with its CTV segment, strategic partnerships, and innovations like ClearLine and SpringServe. With a Zacks Rank #2 (Buy) and Growth Score of B, MGNI offers a strong investment opportunity. Investors can find more information on Zacks’ top stock picks and recommendations for potential growth.

Research Chief Names “Single Best Pick to Double”, highlighting a company targeting millennial and Gen Z audiences with nearly $1 billion in revenue last quarter. The company is poised for explosive growth, making it an ideal investment opportunity. Investors can access more insights and recommendations from Zacks Investment Research.



Read more at Nasdaq: MGNI Stock Surges 31% in 3 Months: Is There Room for Further Growth?