MGI - Media and Games Invest - A strong start to the year
MGI’s Q124 report shows an impressive 21% organic revenue uplift over Q123, with both good new client recruitment and higher spend from existing clients as corporate confidence rebuilds. With the market shift towards privacy-first advertising, despite Google’s continued deadline extensions for full cookie withdrawal, MGI’s AI-driven contextual targeting solution is well-placed. The move to a single infrastructure on the Google cloud should enhance scalability and improve efficiency. Our forecasts are edged ahead, to the midpoint of management revenue guidance, which is restrained by caution over the macroeconomic outlook. The rating remains at a discount to peers, despite an 80% share price gain year to date.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
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