Magnite Wins Big as Google Forced to Open Up Ad-Tech Stack

Magnite Inc., an independent sell-side advertising platform, has seen its stock price rise after a recent ruling in Google's ad-tech antitrust case.

The court ordered Alphabet Inc.'s Google to relax rules governing its online advertising auctions and make its technology work more effectively with rival platforms. This is seen as a major win for Magnite and other independent ad tech companies, according to analysts at Craig-Hallum and StoneX.

Craig-Hallum raised its price target on MGNI stock to $32 from $28, describing the outcome for independent sell-side platforms as 'somewhere between a home run and a grand slam'.

The analyst highlighted two key positives: the 60-day implementation window and the six-year technical monitoring period. This will prevent Google from creating workarounds to the remedies, according to Craig-Hallum.