Why Magnite Stock Is Soaring Again Today

Shares of advertising-technology company Magnite (NASDAQ: MGNI) were gaining again on Monday after the company received an upgrade from a prominent analyst. As of 1 p.m. EST, Magnite stock was up 11%. Inclusive of today's gains, the stock is up about 40% in the last week and up over 300% in the last three months.

Needham analyst Laura Martin has reportedly raised Magnite's target price. Previously, Magnite was given an $18 per share price target. But according to The Fly, Martin significantly raised this today to $30 per share, implying about 30% upside from where Magnite stock was trading before the market opened this morning.

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Source Fool.com