Magnite and PubMatic Rise on Google Antitrust Remedies, Trade Desk Lags
Magnite (NASDAQ:MGNI) rose 5% while PubMatic (NASDAQ:PUBM) climbed 6%, both reacting positively to the unsealed antitrust remedies in a U.S. court case against Alphabet's Google. The ruling requires interoperability between Google’s ad exchange and open-source Prebid, as well as banning tying its ad server with its exchange. Alphabet (NASDAQ:GOOGL) saw only modest gains of 0.8%, while The Trade Desk (NASDAQ:TTD) fell slightly by 0.5%. This suggests the market views the ruling more favorably for supply-side platforms rather than as a major disruption to Google’s ad business. Craig-Hallum raised its price target on Magnite from $25 to $32, citing long-term benefits of the court's behavioral remedies over six years. The changes do not immediately impact revenue but signal potential competitive advantages for independent sell-side platforms like Magnite and PubMatic.
Tickers: $GOOGL $MGNI $PUBM $TTD
Topics: ad_tech antitrust price_target_change regulatory_remedies