LIVE
APP
AppLovin Corporation · Technology - Mobile Advertising & Gaming
$469.71
-1.51% this month
VERSUS
⟷
COMPARE
MGNI
Magnite, Inc. · Technology - Programmatic Advertising SSP
$17.89
+33.61% this month
Scoreboard verdict
Across AI score, momentum, valuation, upside, operating margin
APP
3
MGNI
1
Comparison scoreboard
APP LEADS 3/5AI Score
APP ✓58.9
MGNI 33.2
1Y Return
APP ✓+36.40%
MGNI -4.94%
Fwd P/E
APP 21.42
MGNI ✓14.47
Target Up.
APP ✓+37.98%
MGNI +23.35%
Op. Margin
APP N/A
MGNI N/A
Metrics last refreshed: 6/20/2026
Quick take
APP vs MGNI Stock Comparison: AI Score, Valuation, Performance and Upside
APP (AppLovin) and MGNI (Magnite) are both digital advertising technology companies but on different sides of the ad ecosystem — AppLovin operates AXON (an AI-powered mobile advertiser platform) and gaming apps generating very high software margins, while Magnite is a supply-side platform for publishers to sell programmatic inventory, focused on the high-growth connected TV advertising market. AppLovin has been the superior performer driven by AXON's AI-driven growth; Magnite is a CTV infrastructure play on streaming advertising expansion.
APP vs MGNI is AI-powered mobile ad targeting performance (AppLovin's AXON machine learning engine delivering superior ROAS for mobile advertisers) versus independent CTV supply-side platform scale (Magnite's publisher technology for programmatic streaming TV advertising as viewers shift from linear to streaming) — ad technology on the buy-side versus sell-side of the growing digital video advertising market.
Live analysis · updated 6/20/2026
APP holds the edge across 3 of 5 key metrics in this comparison. APP has delivered stronger 1-year price return (+36.40% vs -4.94%), though MGNI trades at the lower forward P/E (14.47x vs 21.42x). Analyst consensus implies meaningfully more upside for APP (+37.98%) than for MGNI (+23.35%).
Normalized 1Y performance
APP
MGNI
Recent returns
APP
MGNI
Analyst price targets & sentiment
APP · 30 analysts
STRONG BUYHOLDSTRONG SELL
Strong Buy (1.5/5.0)
Price target range
analyst low$340.00
analyst high$860.00
analyst mean$648.10
current price$469.71
+38.0% upside to analyst mean
MGNI · 15 analysts
STRONG BUYHOLDSTRONG SELL
Strong Buy (1.5/5.0)
Price target range
analyst low$15.00
analyst high$39.00
analyst mean$22.07
current price$17.89
+23.3% upside to analyst mean
Who should consider this stock?
APP may suit investors who:
- →Want exposure to AppLovin's AXON AI advertising engine that has demonstrated superior mobile app user acquisition performance, driving high-margin software revenue with strong advertiser demand
- →Value AppLovin's vertical integration owning both the advertising platform and a publisher gaming network as creating data advantages that improve AXON's machine learning model performance
- →Accept mobile advertising market cyclicality and mobile privacy regulation risk for exposure to one of the highest-growth and highest-margin software platforms in digital advertising
MGNI may suit investors who:
- →Want independent supply-side platform exposure to the connected TV advertising growth market — Magnite as the largest independent CTV SSP benefits as streaming advertising replaces linear TV ad spending
- →Value Magnite's publisher neutrality as an independent SSP without conflicts of interest from large media company ownership, making it the preferred programmatic technology for premium publishers
- →Believe connected TV advertising growth from platforms like Peacock, Paramount+, Disney+, and Netflix adding ad-supported tiers will drive significant programmatic CTV inventory that flows through Magnite's platform
Performance & AI score
| Metric | APP | MGNI |
|---|---|---|
| AI score | 58.9 | 33.2 |
| AI rank | #184 | #1962 |
| Latest close | $469.71 | $17.89 |
| 1M return | -1.51% | +33.61% |
| 6M return | -28.52% | +7.13% |
| 1Y return | +36.40% | -4.94% |
$10,000 invested — hypothetical growth (dividends reinvested)
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | APP | MGNI |
|---|---|---|
| 1Y ago | $13.64K (+36.4%) started 2025-06-18 | $9.51K (-4.9%) started 2025-06-18 |
| 5Y ago | $53.25K (+432.5%) started 2021-06-18 | $6.07K (-39.3%) started 2021-06-18 |
| 10Y ago | $72.04K (+620.4%) started 2021-04-15 | $12.73K (+27.3%) started 2016-06-20 |
Hypothetical — past performance does not guarantee future results.
Valuation & upside potential
| Metric | APP | MGNI |
|---|---|---|
| Market cap | $157.79B | $2.56B |
| Trailing P/E | 40.88 | 17.04 |
| Forward P/E | 21.42 | 14.47 |
| Price/Sales | 25.60 | 3.55 |
| EV/Revenue | 28.25 | 4.02 |
| Analyst target | $648.10 | $22.07 |
| Target upside | +37.98% | +23.35% |
Growth, profitability & risk
| Metric | APP | MGNI |
|---|---|---|
| Revenue growth | 59.00% | 5.50% |
| Earnings growth | 113.10% | N/A |
| EPS growth | +113.10% | N/A |
| FCF margin | +51.59% | +0.21% |
| Operating margin | N/A | N/A |
| Profit margin | 64.29% | 21.96% |
| ROIC proxy | 266.44% | 19.12% |
| Return on equity | 266.44% | 19.12% |
| Dividend yield | 0.00% | 0.00% |
| Beta | 2.46 | 2.31 |
| Debt/equity | 162.89 | 46.81 |
| Current ratio | 3.24 | 1.02 |
| Quick ratio | 3.16 | 1.00 |
Drawdown & downside risk
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
1Y risk snapshot
APP max drawdown49.99%
MGNI max drawdown57.77%
APP max wkly drop34.08%
MGNI max wkly drop24.90%
5Y risk snapshot
APP max drawdown91.90%
MGNI max drawdown84.35%
APP max wkly drop34.08%
MGNI max wkly drop45.84%
10Y risk snapshot
APP max drawdown91.90%
MGNI max drawdown90.65%
APP max wkly drop34.08%
MGNI max wkly drop46.91%
Performance metrics by period
| Period | Metric | APP | MGNI |
|---|---|---|---|
| 1Y | Growth | +36.40% | -4.94% |
| CAGR | +36.43% | -4.94% | |
| Sharpe ratio | 0.74 | 0.12 | |
| Max drawdown | 49.99% | 57.77% | |
| Max daily drop | 19.68% | 18.21% | |
| Max wkly drop | 34.08% | 24.90% | |
| 5Y | Growth | +432.49% | -39.34% |
| CAGR | +39.73% | -9.51% | |
| Sharpe ratio | 0.75 | 0.17 | |
| Max drawdown | 91.90% | 84.35% | |
| Max daily drop | 20.12% | 35.09% | |
| Max wkly drop | 34.08% | 45.84% | |
| 10Y | Growth | +620.41% | +27.33% |
| CAGR | +46.46% | +2.45% | |
| Sharpe ratio | 0.81 | 0.35 | |
| Max drawdown | 91.90% | 90.65% | |
| Max daily drop | 20.12% | 40.00% | |
| Max wkly drop | 34.08% | 46.91% |
Business comparison
| Category | APP | MGNI |
|---|---|---|
| Company | AppLovin Corporation | Magnite, Inc. |
| Sector | Technology - Mobile Advertising & Gaming | Technology - Programmatic Advertising SSP |
| Industry | N/A | N/A |
| Core business | AppLovin is a mobile technology company operating AXON, its AI-powered advertising engine that matches mobile app advertisers with relevant audiences at scale, and a portfolio of mobile games (through its MAX mediation platform and gaming studios). AppLovin's AXON system uses machine learning to optimize ad performance for mobile app user acquisition, generating high returns for advertisers across its publisher network. | Magnite is an independent supply-side platform (SSP) for digital advertising — technology that helps publishers (websites, streaming TV channels, apps) sell their advertising inventory programmatically to advertisers. Magnite is particularly strong in connected TV (CTV) and streaming advertising, having become the leading independent CTV SSP through the acquisitions of Rubicon Project, Telaria, SpotX, and SpringServe. |
| Investor focus | Investors track AppLovin's Software Platform revenue (AXON advertising engine with very high margins), gaming portfolio monetization, AXON's expanding use cases beyond gaming into e-commerce and other app categories, and the dramatic revenue and margin acceleration that AXON drove beginning in 2023 as the AI model improved. | Investors track Magnite's CTV/streaming advertising revenue growth, take rate (percentage of ad spend flowing through Magnite that it retains as revenue), programmatic video and display revenue, independence value (versus SSPs owned by large media companies), and path to profitability as CTV advertising scales. |
APP strengths
- →AXON AI engine performance — AppLovin's machine learning-based ad targeting system has demonstrated superior return on ad spend (ROAS) for mobile app advertisers, driving rapid advertiser adoption and pricing power
- →Vertical integration advantage — AppLovin owns both the advertising platform (AXON) and a large gaming publisher network (its own games), creating data flywheel advantages from seeing both buyer and seller advertising data
- →Software Platform margin profile — the AXON software platform generates very high EBITDA margins, transforming AppLovin from a lower-margin gaming company into a high-margin software business
MGNI strengths
- →CTV advertising market leadership — Magnite is the largest independent SSP in connected TV advertising, positioned to benefit as streaming TV advertising grows as viewers shift from linear TV to streaming services
- →Independence value — Magnite's independence from large media companies (unlike Google's SSP, Amazon's SSP, or Comcast's FreeWheel) gives publishers neutral technology they can use without concern about conflicts of interest
- →Programmatic video expertise across CTV, online video, and display provides publishers with unified auction management across all their programmatic inventory
Risks to watch — APP
- →Mobile advertising market cyclicality — AppLovin's advertising revenue is subject to digital advertising spending cycles, which compressed industry-wide in 2022 before recovering
- →Privacy regulation impact — Apple's App Tracking Transparency (ATT) and potential further privacy restrictions on mobile targeting continue to evolve, creating uncertainty for mobile ad targeting methodologies
- →Gaming portfolio complexity — AppLovin's own gaming studios (Wordscapes, Wild Life, etc.) require ongoing investment and content quality management in an intensely competitive casual gaming market
Risks to watch — MGNI
- →CTV advertising growth is strong but take rates face pressure — as programmatic CTV matures, advertiser and publisher expectations for lower fees can compress Magnite's margins
- →Google's dominance in programmatic advertising creates a challenging competitive environment — Google's SSP (Google Ad Manager) has market share advantages from integration with Google's buy-side DSP (DV360) that independent SSPs struggle to match
- →Magnite has completed multiple acquisitions (Rubicon, Telaria, SpotX, SpringServe) requiring integration work; achieving the expected synergies while managing integration complexity is ongoing
Frequently asked questions
Free public comparison
Want deeper AI forecasts?
This comparison page is public and free forever. Subscribers can unlock saved watchlists, full AI rankings, detailed forecasts, and interactive analysis tools.
Related comparisons
More comparisons
Browse all 1,000 comparisons →