Magnite price target lowered to $13 from $15 at Susquehanna

Susquehanna analyst Shyam Patil lowered the firm’s price target on Magnite to $13 from $15 and keeps a Positive rating on the shares. The firm said they reported an ok 2Q but guided 3Q lower, as it continues to see macro pressure impact the business. While the issues could take awhile to play out, Susquehanna continues to like Magnite’s ability to participate in the CTV growth opportunity overtime.