Magnite (MGNI)
Runs sell-side marketplaces and ad-serving tools for streaming and digital publishers.
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Runs sell-side software that helps streaming and digital publishers manage inventory and sell ads through automated auctions and direct deals. Revenue usually comes from a share of ad spend, while CTV inventory and demand are concentrated among relatively few publishers and demand-side platforms.
Automates digital advertising sales across connected TV and the broader DV+ channel. SpringServe combines CTV ad serving, mediation, and programmatic selling; DV+ covers mobile, desktop, online video, display, and audio. Demand Manager manages header bidding, while ClearLine lets advertisers and agencies access and curate inventory directly. Revenue generally comes from a share of advertising spend, with fixed per-impression or monthly fees used for some services.
Operates worldwide, with established teams in North America, Europe, and Australia and a developing presence in Asia and South America. Its infrastructure processes high-volume auctions, filters unlikely bids, and gives publishers controls for pricing, yield, ad quality, and TV-style commercial breaks. Results depend on inventory from a limited group of CTV sellers, demand routed through a concentrated set of demand-side platforms, and compliance with expanding privacy rules.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 17, 2026 | Craig-Hallum | Reiterate | Rating: —Target: $24 | Target: $32 |
| Sep 3, 2026 | Needham | Reiterate | Rating: —Target: $20 | Target: $30 |
| Aug 6, 2026 | Scotiabank | Reiterate | Rating: —Target: $16 | Target: $27 |
| Aug 6, 2026 | Evercore ISI | Reiterate | Rating: —Target: $21 | Target: $25 |
| Aug 6, 2026 | RBC Capital | Reiterate | Rating: —Target: $20 | Target: $27 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $332.6M · Total debt $417.0M · Total assets $3.03B · Shareholders' equity $936.3M
- Revenue
- $192.8M
- Operating income
- $31.2M
- Net income
- $19.4M
No dividends on record.
| Institutions | 99.76% | 143.08M shares | |
|---|---|---|---|
| 333 holders · as of Jun 30, 2026 | |||
| Insiders | 2.37% | 3.40M shares | |
| 16 holders · as of Sep 18, 2026 | |||
| Adds to | 102.13% | ||
143.42M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 102.13%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 8.86% | 12.71M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 5.72% | 8.20M | as of Jun 30, 2026 |
FMR LLCInstitution | 5.41% | 7.76M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 4.34% | 6.23M | as of Jun 30, 2026 |
Wellington Management Group LLPInstitution | 4.21% | 6.04M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 17, 2026 | Douglas S. Knopper | director | −37,337 | $26.28 |
| Sep 17, 2026 | Paul Caine | director | −7,500 | $26.50 |
| Sep 14, 2026 | Robert F. Spillane | director | −10,363 | $23.76 |
| Sep 14, 2026 | David Buonasera | officer: CHIEF TECHNOLOGY OFFICER | −1,165 | $24.00 |
| Sep 10, 2026 | Paul Caine | director | −5,000 | $23.53 |
- Alphabet Class A
Dominant integrated stack: publisher ad server, exchange, and CTV walled garden
- Comcast
FreeWheel: the CTV ad server and SSP most direct head-to-head with SpringServe
- Amazon
Walled-garden ad giant: Prime Video CTV, APS TAM SSP, and Amazon DSP
- PubMatic
Closest pure-play independent SSP peer: omnichannel, CTV-growing, commerce media
- The Trade Desk
Largest independent DSP; OpenPath and Sincera encroach on SSP middleware
- Nexxen International (ADR)
Unified video and CTV SSP + DSP differentiated by exclusive VIDAA ACR data
- Meta
Social-media walled garden drawing ad budgets away from open programmatic
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Magnite | $25.35 | +0.16% | $3.62B | 23.0 | 21.7 | 4.9 | +9.4% |
| Alphabet Class A | $360.97 | +1.69% | $4.30T | 17.8 | 26.9 | 9.6 | +24.2% |
| Comcast | $22.94 | +0.04% | $81.37B | 7.4 | 6.6 | 0.7 | −1.2% |
| Amazon | $257.97 | −0.19% | $2.78T | 20.8 | 27.6 | 3.6 | +19.6% |
| PubMatic | $17.88 | 0.00% | $835.1M | — | 76.5 | 2.9 | +10.6% |
| The Trade Desk | $13.59 | −2.13% | $6.53B | 16.3 | 112.4 | 2.2 | +3.0% |
| Nexxen International (ADR) | $8.98 | +1.22% | $494.2M | 39.8 | 7.9 | 1.3 | +7.5% |
| Meta | $748.44 | +0.97% | $1.89T | 27.9 | 24.6 | 8.3 | +28.0% |
| Median | 19.3 | 26.9 | 2.9 | +10.6% |