Is Magnite Stock a Good Long-Term Investment?
Investors considering Magnite (NASDAQ: MGNI) stock might be motivated to buy after seeing its record 2021 full-year earnings report released in February. The advertising tech company boasted 111% revenue growth, reaching $468.4 million.
The company's excellent performance combined with the broader decline in tech stocks over recent months make Magnite shares compelling. The stock trades well below its 52-week high of $53.48.
The question is whether Magnite has what it takes to make it a good long-term investment. On the surface, the company's triple-digit 2021 revenue growth is impressive. But Magnite's acquisition of video advertising firm SpotX in April 2021 contributed significantly to that growth rate which could mean trouble in trying to repeat such a feat a year from now.
Source Fool.com