Magnite's growth rate is picking up, and new partnerships could help it sustain recent growth. Media companies are increasingly consolidating their software providers to bigger companies, and Magnite is one of the biggest there is.
One analyst is recommending that investors buy Magnite stock in light of the company's recent partnerships. Connected-TV revenue is quickly approaching a majority of its business, and it could carry the stock to further gains as adoption grows.
Streaming pioneer Netflix unveiled plans to bring its advertising in-house. The company said it will partner with Magnite, among others.