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    MGNI   US55955D1000

MAGNITE, INC.

(MGNI)
  Report
Delayed Nasdaq  -  04:00 2022-09-23 pm EDT
6.530 USD   -2.10%
09/21Group Black and Magnite Bring Programmatic Technology and Demand to Black-owned Publishers
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09/13Kroger Precision Marketing (KPM) Activates Omnichannel Inventory Through Magnite
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09/13Kroger Precision Marketing Activates Omnichannel Inventory Through Magnite
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Google's cookie announcement: The date has changed, but the recipe hasn't

08/11/2022 | 09:18am EDT
Google's cookie announcement: The date has changed, but the recipe hasn't

Google has confirmed what many industry pundits were predicting - an extension to the removal of third party cookies in Chrome to mid 2024. Surprise or not, it's a major announcement for everyone involved, and allows for more concrete planning in terms of milestones and the actions needed to achieve them.

Before we give an update on Magnite's solutions, it's worth reminding ourselves of the bigger picture:

  • The clock is still ticking: This is a (further) delay but we are all still expecting major changes to come to Chrome - and there are few reasons not to be ready.
  • The journey has already begun: Third party cookies have already gone from most non-chrome browsers - such as Safari (~19% browser market share), Firefox (~4%) and a number of others - whilst over 42% of internet users use ad blockers which equates to a large proportion of the web already blocking third party cookies. Meanwhile, advertisers' use of third-party cookies continues to decline with, for instance, a near 10% decline in the second half of 2021 from 97% in May to 88% in December (Advertiser Perceptions). In addition, rising mobile use has meant third-party cookies have been of diminishing importance in some more mobile-dominant markets.
  • Signal loss: More broadly, the third party cookie is just another example of a reduction in identifers available for targeting, optimization, and measurement. For instance, IDFAs have significantly reduced availability, Google has discussed similar changes for the Android ID, and IP addresses are running out of favor in some countries.
  • Privacy matters: Demand for more privacy-centric solutions is growing, regardless of what Google decides to do with Chrome. Even if third party cookies stay on Chrome forever, the shift towards non ID-based advertising will continue.

Buyers and Sellers must continue to prepare for a largely ID-less future, and Magnite is building solutions to support just that. Our solutions fall into 3 main categories and are all in late stages of development or early beta testing:

  • Matching Services: Light privacy enhancing technology (PET) built to match and activate imobile PII in a secure fashion.
  • Seller Defined Audiences: Products built to help publishers with standardized segmentation and syndication (and allowing for some exciting developments bringing Magnite scale to that technology too).
  • Context: Content related targeting that relies on nothing other than understanding the session for a given user.

And for now? Audience targeting and identifier-based tech still works in some environments, so the pragmatic approach is to use it, whilst preparing for change. Magnite has built multiple world-class audience platforms supporting all audience targeting and many measurement capabilities across its platforms - which together comprise the world's largest independent omnichannel SSP.

Disclaimer

Magnite Inc. published this content on 11 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 August 2022 13:16:03 UTC.


© Publicnow 2022
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Analyst Recommendations on MAGNITE, INC.
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Financials (USD)
Sales 2022 514 M - -
Net income 2022 -103 M - -
Net cash 2022 253 M - -
P/E ratio 2022 -9,58x
Yield 2022 -
Capitalization 868 M 868 M -
EV / Sales 2022 1,20x
EV / Sales 2023 0,90x
Nbr of Employees 876
Free-Float 88,4%
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Number of Analysts 9
Last Close Price 6,53 $
Average target price 14,89 $
Spread / Average Target 128%
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Managers and Directors
Michael G. Barrett President, Chief Executive Officer & Director
David Lavelle Day Chief Financial Officer
Paul Jason Caine Non-Executive Chairman
Katie Evans Chief Operating Officer
Robert J. Frankenberg Lead Independent Director
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