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Why Wall Street analysts think Magnite may be the next hot play in ad tech

Key Points
  • Analysts think ad tech company Magnite is set for a standout 2021 as it rides on the back of the booming connected TV sector. 
  • Needham analyst Laura Martin made it her "top pick" for 2021.
  • Public ad tech companies Telaria and Rubicon Project agreed to merge in late 2019 as they plotted a stronger play in connected television and to bring an alternative to walled gardens like Google and Facebook, forming Magnite.
Michael Barrett, Magnite CEO.
Magnite

Analysts think ad tech company Magnite is set for a standout 2021 as it rides on the back of the booming connected TV sector. 

The company, which formed after two public ad tech peers merged last year, has caught the eye of analysts in recent months and was deemed the "top pick" for 2021 by Needham's Laura Martin. Analysts say the company is poised to benefit from the growth of the CTV space this year, while also benefiting from clients consolidating their ad spend with fewer partners. 

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