Analysts Reiterate Magnite Inc's (MGNI) Huge Upside

Magnite Inc (NASDAQ:MGNI) is one of the 10 Cheap Stocks with Huge Upside Potential. On January 21, Jason Kreyer of Craig-Hallum maintained a Buy rating on Magnite Inc (NASDAQ:MGNI). MGNI is currently covered by 15 analysts on Wall Street, according to CNN, with the most bullish analyst maintaining a $39 price target, translating to an upside of 153.08%.

The company’s growth prospects received a boost on January 22 when MNTN, a firm that offers software for brands to advertise on connected TV, partnered with MGNI. This partnership will enable MNTN to give its advertisers exposure to high-engagement programs like sports and breaking news for the first time. For Magnite, this means publishers have new revenue opportunities while a new class of focused advertisers can now use MGNI’s services.

This is what Mike Laband, Group SVP of US Revenue at the company, had to say about the partnership:

“This collaboration brings performance-driven marketers into streaming at scale, creating meaningful new revenue opportunities for publishers. Partnering with MNTN opens the door for a new class of performance-focused advertisers to show up in places they’ve never been before from live award shows to the biggest sporting events of the year.”

Magnite Inc (NASDAQ:MGNI) is the world’s largest independent sell-side advertising platform. It enables publishers to earn money from their content on Connected TV, mobile devices, and desktops. It is headquartered in New York City, USA.

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Disclosure: None. This article is originally published at Insider Monkey.