Google: Wells sees significant potential benefit to Magnite from Google ruling

Wells Fargo analyst Ken Gawrelski notes that Judge Leonie Brinkema issued a mixed opinion in the Alphabet ( GOOG ) ( GOOGL ) ad-tech antitrust case, finding anticompetitive behavior on the supply side of the programmatic market. The opinion suggests the government failed to prevail on the demand side of the market, because there isn't evidence it represents a discrete digital ads category, but on the supply side, the judge ruled there is a discrete market and that Google engaged in anticompetitive practices, the analyst says. While the remedy and appeal process needs to play out, the firm sees "meaningfully positive potential outcomes" for Magnite ( MGNI ), PubMatic ( PUBM ) and the independent Supply-Side Platforms, the analyst tells investors. The firm sees "a more neutral outcome" for Trade Desk ( TTD ) and the independent Demand-Side Platforms, Wells added. Stay Ahead of the Market: Discover outperforming stocks and invest smarter with Top Smart Score Stocks. Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener. Published first on TheFly - the ultimate source for real-time, market-moving breaking financial news. Try Now>>