Magnite Wins HP TV+ Ad Server Deal as Shares Trade Above Year Start

Simply Wall St·6 Oct 2026·Read original

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Summary · why it matters

Magnite has secured a fresh role with HP TV+, becoming the primary video ad server and programmatic tech provider for HP's free, PC-focused streaming environment. The win comes as Magnite's shares have gained 6.67% over 7 days, 21.64% over 90 days and 55.42% year to date, with a 3 year total shareholder return of 238.21%. The stock last closed at $24.96, while the most followed Magnite narrative pegs fair value near $29.67, framing the shares as 16% undervalued. Magnite is positioned to benefit from the shift of ad spend from traditional TV to digital and connected TV, evidenced by deepened partnerships with Roku, Netflix, LG, Warner Bros. Discovery and Paramount. Risks include reliance on a handful of large CTV and agency clients and uncertainty around the timing of Google AdTech remedies.