Magnite, Inc. (NASDAQ:MGNI) reported better-than-expected earnings for the second quarter on Wednesday.
The company posted quarterly earnings of 20 cents per share which beat the analyst consensus estimate of 17 cents per share. The company reported quarterly sales of $173.332 million which beat the analyst consensus estimate of $157.227 million.
“We delivered total top-line results and Adjusted EBITDA that exceeded our guidance for the second quarter, with significant upside from DV+. We see acceleration in second-half 2025 growth in both CTV and DV+, despite some continued uncertainty related to the macro environment. In CTV, our growth was fueled by new and expanded partnerships, entry of SMB advertisers, our critical role in buyer marketplaces and success in live sports. The growth profile of DV+ is also improving as a result of progress on the partner and product side, even prior to benefits from any remedies resulting from the antitrust ruling against Google,” said Michael G. Barrett, CEO of Magnite.
Magnite shares fell 4.5% to $21.47 on Thursday.
These analysts made changes to their price targets on Magnite following earnings announcement.
- Needham analyst Laura Martin maintained Magnite with a Buy and raised the price target from $18 to $25.
- Susquehanna analyst Shyam Patil maintained the stock with a Positive and raised the price target from $22 to $28.
- Benchmark analyst Daniel L. Kurnos maintained Magnite with a Buy and raised the price target from $30 to $31.
- Scotiabank analyst Nat Schindler maintained the stock with a Sector Outperform and boosted the price target from $22 to $30.
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