MGNI Magnite Inc

$MGNI Nick Kormeluk now saying any gains from google behavioural remedies will flow through at 90-95% incremental margins!!!

$MGNI Happy that not only did we get good remedies, but share repurchase program still ongoing, and CTV crushing it! Bright blue sky ahead magniters!

$MGNI This quarter should be extraordinary, and with continued focus on repurchase. Catching fire here. Brinkema… do your damn job.

$MGNI Illogically boring action here recently, so I have remained in London. Ain’t coming home till we break past 25 with conviction. Leadenhall Market. Bet you my happy hour beer has a better view than yours today. Bullish English cask ales and Magnite. LFG.

$MGNI $GOOG $GOOGL Magnite price target raised to $43 from $33 at StoneX StoneX analyst Daniel Kurnos raised the firm's price target on Magnite to $43 from $33 and keeps a Buy rating on the shares after hosting management for a dinner. Noting that U.S. District Court for the Eastern District of Virginia Judge Leonie Brinkema rejected the Justice Department's bid to force a sale of Google's (GOOGL) AdX, but ordered that the company must make its advertising technology tools work with those operated by rivals, the analyst thinks "the market, and a fair amount of the coverage of the ruling itself, is still underselling how central Prebid is to this outcome." cc:

$MGNI just saw the ITN announcement- LM and MB talked about this being an newly addressable $50B in TAM - That also makes MB’s recent “earnings story, not a whoosh” characterization particularly interesting. There could ultimately be three independent acceleration engines operating simultaneously: 1. CTV continuing to grow around 30%+. 2. DV+ accelerating as Google’s auction advantages are constrained. 3. Agentic/local linear bringing transactions into Magnite that weren’t previously in its addressable programmatic revenue base. The third one was previously largely theoretical. This week’s ITN announcement is evidence that it is moving into commercialization.

$MGNI $APPS I may not know much… but I do know Digital Digital Turbine and Magnite are wildly undervalued at the moment.

$MGNI Per repeated forecasts by Magnite leadership, which has always been conservative, DV+ market share expected to increase to approximately 20% from 5% at $50M revenue per point @ 90% margin. So projected, that’s a margin increase of $675M. Most of the margin increase will drop though to Ebitda, which sits at $166M (ttm). That’s 4X Ebitda increase, and a 100% revenue increase. Once implemented by Google, this is a flip of a switch increase as the pipes are already built. Do the math on current valuation… $80-$90 SP not unrealistic. From Google:

$MGNI wanted to update the largest blocks table from today. This time I set the screen to 10k shares, ie. ~$250K per block. As you can see, there were a LOT of those blocks today -- and many were much higher. See that fat 200k buy at 3:40 pm? That's $5M. Anyway, my point's this: none of these trades are retail. Shorts have no reason to be here. And the risks increase daily for dealers, if they're on the wrong side of an options book. Tomorrow's an important OPEX (pic 2). The October chain still shows some large positioning at the 26c and 27c strikes, but nothing remotely as brutal as the Sept 25 strike.

$MGNI once again I’d like to thank Fauci for giving me the idea that covered most of my kids private school tuition for the year. You are my boy! Keep coming back please

$MGNI Magnite price target raised to $32 from $28 at Craig-Hallum Craig-Hallum raised the firm's price target on Magnite (MGNI) to $32 from $28 and keeps a Buy rating on the shares. Just 14 days after the summary briefing, courts released the full 106-page remedies opinion in the Department of Justice's Google ad-tech antitrust case, with no redactions. For the independent SSP world, the firm sees this somewhere between a home run and a grand slam. Remedies will require global compliance, with only 60 days for adherence. In a world of discounted cash flows, the short time horizon to implementation is a major victory, argues Craig-Hallum. And the technical monitors will be implemented for six years, ensuring Google (GOOGL) does not establish work-arounds. Overall, the firm sees this as a massive victory for independent ad-tech. cc:

$MGNI honestly inexcusable that this isn't at new 52 wk highs already. People sure do love to push her around.

$MGNI There are gonna be a lot of people who feel left on the platform as the train takes off once Magnite’s situation is finally understood. Congrats to the longs who have kept the faith!!!

$MGNI the beauty of all this is once remedies are revealed management will have a fiduciary duty to provide projections on the impact on the business as these projections are also what figures into how Google’s feet are held to the fire - no more beating around the bush with statements about generational opportunities - “we project an x% increase in revenues when these remedies are fully in place and if we don’t achieve these numbers Google is still cheating.”

$MGNI I have a two year thread analyzing this with ChatGPT - this is the latest summary from today “There is now fairly good evidence that the behavioral remedies are aimed directly at making Google’s stack interoperate with competitors and removing at least some mechanisms that advantaged Google’s own exchange. If the sealed opinion contains strong nondiscrimination/auction-neutrality provisions, the potential MGNI share redistribution could be far larger than the market appears to be contemplating”

$MGNI so it’s next week for the final filed DoJ/Google ruling and then another 4 weeks or so until Q3 ER. Then another 4 weeks or so until the remedy ruling takes affect. So we’ll start to see the impact on revenues from the Q4 ER. It’s all positive tailwinds for the stock for the foreseeable future.

$MGNI The die has been cast people. Nothing to do but relax and wait for those who haven’t done their homework yet to figure it out.

$MGNI Has anyone seen or heard from Fauci? Someone please do a wellness check on him as he could have made all his losses back by now. 👀

$MGNI so crazy how low this stock price is. too many posiives to list. Just wait til they reveal the remedies of google.. and when META signs up for CTV. In am overloaded but am prepared for more if i need to. This is not going down!!!

$MGNI These conferences seem to get more bullish each time. There surely has to be some serious analyst upgrades coming in soon…..???