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

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.