Interesting. The Barchart sector chart for the sector which includes ATRA is making new highs.
Meanwhile, there is Pubmatic (PUBM)
Google Delaying Phasing Out Of Third-Party Cookies On Chrome Will Benefit These Companies, Analysts Say
1:53 pm ET July 28, 2022 (Benzinga) Print
Earlier today, Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) Google announced delaying the phase-out of third-party cookies on Chrome until 2H24, an ~ one-year extension from its initial plan.
It marked Google's second delay after delaying the deprecation of third-party cookies in June 2021 from early 2022 to 2H23 JMP analyst Andrew Boone noted.
Given the political and technical difficulties of replacing third-party cookies with a privacy-safe alternative, he would not be surprised to see Google again delay the depreciation of cookies in 12-18 months.
For context, Google decided to remove 3P cookies in January 2020. Boone pointed out that the delayed depreciation of third-party cookies most benefits open web advertisers.
Google Chrome accounted for 66.9% of desktop browser share and 65.9% of mobile browser share per StatCounter, highlighting the importance of Chrome to the open web.
Boone noted that nearly all other browsers have already eliminated third-party cookies' functionality. He believes the most significant beneficiary in his coverage universe is PubMatic, Inc (NASDAQ: PUBM), given its exposure to open web displays.
Additionally, Boone highlighted AdTheorent Holding Company, Inc (NASDAQ: ADTH), Outbrain Inc (NASDAQ: OB), and Taboola.com Ltd (NASDAQ: TBLA), which still utilize cookies when available for targeting, though they primarily use contextual signals to drive ad performance.
Lastly, he noted Meta Platforms Inc (NASDAQ: META) Facebook, Twitter Inc (NYSE: TWTR), and YouTube still operate browser-based user experiences, which is a minority of their businesses today.
Boone expected privacy headwinds to continue, albeit with lesser intensity. He had a Market Outperform on Google with a price target of $160.
RBC analyst Matthew Swanson saw another delay removed a near-term headwind from the open-internet space, including The Trade Desk, Inc (NASDAQ: TTD), Tremor International Ltd (NASDAQ: TRMR), PUBM, and Magnite, Inc (NASDAQ: MGNI) more time to adapt.
That said, a delay does not remove the overhang and may serve to extend the uncertainty in the market. Swanson believes that cookie loss could serve a long-term benefit for scaled players by enhancing differentiation and lessening worries about commoditization, effectively accelerating supply path optimization (SPO).
For now, he felt a delay would benefit sentiment, giving advertisers, publishers, and the entire ecosystem more time to test their replacements for cookie loss.
