As a reminder, the comparisons you will see in the 10-Q as reported include the financial results of SpotX and SpringServe for Q2 2022, but do not include April 2021 SpotX results or Q2 2021 SpringServe, because those businesses were acquired April 30, 2021 and July 1, 2021 respectively. When we make comments referring to pro forma comparisons, we are including SpotX and SpringServe for the relevant pre-acquisition period in order to provide a like-to-like comparison. Please keep in mind as it relates to the SpotX and SpringServe acquisitions, prior quarterly results are estimated and unaudited.
Magnite (MGNI) delivered earnings and revenue surprises of -22.22% and 12.47%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?
Share prices of supply-side advertising-technology (adtech) specialist Magnite (NASDAQ: MGNI) have plummeted 86% from their all-time high over one year ago. In fact, they made a bet Magnite could reach $91.26 per share by 2026, more than 10 times where the stock trades today. In this article, we'll look at why smart money believed Magnite could hit this price.