Magnite Shows Strength With Netflix Partnership, Analyst Expects $30M In Revenue By 2025
Portfolio Pulse from Nabaparna Bhattacharya
Magnite, Inc. (MGNI) has been upgraded to Buy by BofA Securities analyst Omar Dessouky, who raised the price target to $15. The upgrade is driven by Magnite's exclusive partnership with Netflix (NFLX), expected to generate $30 million in revenue by 2025, and its strong position in the CTV advertising market. The company is also expected to benefit from the programmatic transition in premium streaming services, as indicated by recent trends from Walt Disney Company (DIS) and Paramount Global (PARA).
May 24, 2024 | 6:15 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Recent trends from Walt Disney Company suggest a programmatic transition in premium streaming services, which supports a multiyear share gainer story for Magnite.
While the news indirectly supports Magnite's growth, it does not have a direct short-term impact on Disney's stock price.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 30
NEUTRAL IMPACT
Paramount Global's trends suggest a programmatic transition in premium streaming services, which supports a multiyear share gainer story for Magnite.
While the news indirectly supports Magnite's growth, it does not have a direct short-term impact on Paramount Global's stock price.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 30
POSITIVE IMPACT
Magnite has been upgraded to Buy by BofA Securities, with a price target raised to $15. The upgrade is driven by Magnite's exclusive partnership with Netflix, expected to generate $30 million in revenue by 2025, and its strong position in the CTV advertising market.
The upgrade to Buy and increased price target are significant positive signals for investors. The partnership with Netflix is expected to generate substantial revenue, reinforcing Magnite's strong position in the CTV advertising market.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Netflix's partnership with Magnite is expected to generate $30 million in revenue for Magnite by 2025, potentially making Netflix Magnite's largest CTV client by year-end 2025.
The partnership with Magnite is a strategic move for Netflix, enhancing its position in the CTV advertising market. This could lead to increased revenue and market share for Netflix.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70