Magnite, Inc.: BofA Tech Conf Recap: agentic workflow shifts market power to supply side; Buy

研报英文原文证据摘录

Magnite, Inc.: BofA Tech Conf Recap: agentic workflow shifts market power to supply side; Buy

Accessible version

Magnite, Inc.

BofA Tech Conf Recap: agentic workflow

shifts market power to supply side; Buy

Reiterate Rating: BUY | PO: 20.00 USD | Price: 14.68 USD

New agentic workflow strengthens SSP value proposition 08 June 2026

We hosted MGNI’s SVP of Investor Relations for a day of investor meetings at BofA Equity

Technology Conference on June 2, where MGNI’s recently demoed agentic workflow was

a major area of investor interest. We walked away sensing a potential narrative shift in Omar Dessouky, CFA Research Analyst

AdTech: the view that SSPs could be disintermediated by DSPs because of limited BofAS

differentiation appears increasingly challenged. In fact, MGNI’s agentic buying path +1omar.dessouky@bofa.com646 855 0686

shows it can automate media planning and ad budget deployment in ways that could Arthur Chu, CFA

potentially undercut traditional DSP value propositions. Together with other market Research Analyst

BofAS

developments such as SSP-curated marketplaces and supply-side audience activation, +1 646 855 1131

we think market power may begin shifting toward the supply side. We believe more arthur.chu@bofa.com

evidence like this that suggests an increase in adoption of supply-side innovations

should raise valuation relative to demand side counterparts. Reiterate Buy and $20 PO.

Stock Data

Agentic workflow to drive share gain & greater economics

MGNI’s agentic workflow consists of a Buyer Agent and Seller Agent. The Seller Agent is Price 14.68 USD

an LLM-based interface that enables access to MGNI’s audience graph and activation of Price Objective 20.00 USD

specific audience segments.