BusinessEarnings ReportsJune 1, 2026
RBC Capital keeps Magnite Outperform as Walmart ties deepen
RBC Capital reiterated its Outperform rating for Magnite Inc. shares while adjusting its price target. This comes as investors consider Magnite's expanding partnership with Walmart Connect and its upcoming Q1 2026 earnings release.
Key Takeaways
- RBC Capital kept an Outperform rating on Magnite Inc. stock listed on Nasdaq.
- The bank trimmed its price target for Magnite, though the article does not give the new level.
- Magnite’s partnership with Walmart Connect is expanding.
- Investors are also waiting for Magnite’s Q1 2026 earnings release.
Why It Matters
RBC Capital’s unchanged Outperform call keeps Magnite in focus even as the bank cut its price target, signaling the stock still has support from a major analyst house. The immediate backdrop is Magnite’s expanding Walmart Connect partnership, which ties the ad-tech company to a large retail-media property. With Q1 2026 earnings still ahead, the next concrete signal is how Magnite frames that Walmart Connect relationship when it reports results.
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