Why Magnite's Stock Is Trading Higher Today

Magnite MGNI shares are trading higher on Tuesday after Needham maintained a Buy rating and raised its price target from $30 to $70.

Magnite Inc is an independent sell-side advertising platform that combines Rubicon Project's programmatic expertise with Telaria's leadership in CTV. The company provides a technology solution to automate the purchase and sale of digital advertising inventory.

Magnite stock was up 7.69% at $63.16. The stock has a 52-week high of $64.39 and a 52-week low of $4.09.