Benchmark analyst Daniel Kurnos raised the firm’s price target on Magnite to $21 from $18 and keeps a Buy rating on the shares after what the firm calls “another solid print.” Following a quarter where the take rate actually expanded, Magnite “remains our highest conviction long, especially with the promise of a GAAP positive net income year and a rapidly nearing net debt to net cash inflection point,” says the firm in a note titled “If Magnite Manages to Trade Lower, Buy the Dip.”
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