MNTN (NYSE:MNTN) Raised to “Strong-Buy” at Wall Street Zen

MNTN (NYSE:MNTN) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

Other research analysts have also recently issued research reports about the company. Tigress Financial reissued a “strong-buy” rating and issued a $36.00 price target on shares of MNTN in a research note on Friday, November 7th. TD Cowen raised MNTN to a “buy” rating in a research note on Thursday, December 4th. JMP Securities set a $23.00 target price on MNTN in a report on Wednesday, November 5th. Morgan Stanley cut their price target on shares of MNTN from $22.50 to $20.50 and set an “equal weight” rating for the company in a report on Tuesday, January 13th. Finally, Evercore ISI set a $27.00 price objective on shares of MNTN in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.15.

MNTN Stock Down 5.8%

Shares of MNTN stock opened at $10.32 on Friday. The company has a market cap of $456.28 million and a P/E ratio of -6.66. The business has a 50 day moving average of $11.04 and a two-hundred day moving average of $15.87. MNTN has a 52 week low of $7.71 and a 52 week high of $32.49.

MNTN (NYSE:MNTN) last issued its earnings results on Tuesday, February 10th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.17. The firm had revenue of $87.10 million for the quarter, compared to analyst estimates of $86.18 million. MNTN had a positive return on equity of 12.69% and a negative net margin of 2.22%.MNTN’s quarterly revenue was up 24.8% compared to the same quarter last year.

Insider Buying and Selling at MNTN

In related news, Director Hadi Partovi sold 192,598 shares of MNTN stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $13.46, for a total value of $2,592,369.08. Following the transaction, the director owned 254,922 shares of the company’s stock, valued at approximately $3,431,250.12. This trade represents a 43.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 447,520 shares of company stock valued at $6,005,775. Company insiders own 60.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MNTN. KLP Kapitalforvaltning AS acquired a new stake in shares of MNTN during the third quarter valued at approximately $54,000. Los Angeles Capital Management LLC purchased a new stake in shares of MNTN in the fourth quarter valued at $53,000. JPMorgan Chase & Co. acquired a new stake in shares of MNTN in the third quarter worth $86,000. Cary Street Partners Financial LLC grew its holdings in shares of MNTN by 29.5% during the fourth quarter. Cary Street Partners Financial LLC now owns 20,385 shares of the company’s stock valued at $243,000 after buying an additional 4,640 shares in the last quarter. Finally, Bank of America Corp DE raised its position in MNTN by 622,300.0% during the third quarter. Bank of America Corp DE now owns 6,224 shares of the company’s stock valued at $115,000 after buying an additional 6,223 shares during the period. 72.90% of the stock is owned by hedge funds and other institutional investors.

MNTN Company Profile

MNTN is a software platform specializing in connected television (CTV) advertising, offering marketers the tools to plan, launch and measure streaming TV campaigns. Its platform enables brands to reach audiences across major OTT and CTV channels, helping advertisers target viewers based on demographic, behavioral and contextual data.

The company’s core product suite includes campaign management, real-time bidding and performance analytics. MNTN integrates with leading streaming services and ad exchanges, allowing clients to execute programmatic buys, track view-through conversions and optimize media spend through automated reporting dashboards.

Founded by experienced digital advertising professionals, MNTN is headquartered in Austin, Texas, and primarily serves brands and agencies across the United States and Canada.