What happened Shares of Magnite (NASDAQ: MGNI) have skyrocketed today, up by 16% as of 1:10 p.m. EST, after getting a bullish initiation from Wall Street. Susquehanna kicked off coverage of Magnite with a positive (equivalent to buy) rating alongside a price target of $30. So what Magnite was created from the merger of Rubicon Project and Telaria, which closed earlier this year and created a leading supply side platform (SSP) for advertisers. Analyst Shyam Patil believes that Magnite is the best independent SSP, especially for connected TV (CTV) platforms. The advertising technology company is a leader in its sector thanks to its independence and scale, while Magnite also has a strong management team in place, in Patil's view. Image source: Getty Images. Magnite shares gained earlier this week after state attorneys general filed two separate antitrust lawsuits against Alphabet subsidiary Google, alleging that the search juggernaut colluded with Facebook to manipulate advertising auctions. Now what The company said last month that it expects strong CTV growth in the fourth quarter. Guidance calls for revenue of $72 million to $75 million. Third-quarter results were strong and management believes that the momentum will continue heading into the final stretch of 2020, particularly as retailers have been ramping up advertising activity for the holiday shopping season. Adjusted EBITDA in the fourth quarter is forecast at $50 million to $52 million. Susquehanna's $30 price target represents approximately 51% upside from yesterday's close. 10 stocks we like better than Magnite, IncWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Magnite, Inc wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool's board of directors. Evan Niu, CFA has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), Facebook, and Magnite, Inc. The Motley Fool has a disclosure policy.Source