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Investing.com - Evercore ISI has raised its price target on Magnite (NASDAQ:MGNI) to $27.25 from $19.00 while maintaining an Outperform rating on the stock. According to InvestingPro data, analyst targets for the stock range from $18 to $39, with the company currently trading near Fair Value levels.
The research firm cited Magnite’s solid second-quarter performance despite intraquarter macroeconomic uncertainty, with the company guiding third-quarter results above Street expectations.
Magnite has also reinstated its full-year 2025 guidance, maintaining a consistent growth outlook while projecting slightly higher margin expansion compared to previous forecasts.
Evercore ISI noted several potential catalysts for Magnite, including major connected TV partner ramps, possible remedies from the U.S. v. Google (NASDAQ:GOOGL) ad tech trial, a potential damages award related to Google’s monopolistic conduct, and growth in curation and supply-side decisioning.
Magnite stock has risen nearly 40% year-to-date, outperforming the NASDAQ’s 10% gain during the same period.
In other recent news, Magnite reported strong financial results for the second quarter of 2025. The company achieved an earnings per share (EPS) of $0.20, surpassing the anticipated $0.17. Revenue also exceeded expectations, totaling $173.3 million compared to the forecasted $157.44 million. Net revenue, excluding traffic acquisition costs, was $162 million, marking a 10% year-over-year increase and exceeding Needham’s estimate by 3%. Following these results, Needham raised its price target for Magnite stock to $25.00 from $18.00, maintaining a Buy rating. These developments reflect positively on Magnite’s financial performance and future prospects as assessed by Needham.
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