MNTN (NYSE:MNTN) Upgraded to Strong-Buy at Wall Street Zen

MNTN (NYSE:MNTN) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday.

Other analysts also recently issued research reports about the company. Raymond James Financial reissued an “outperform” rating and issued a $15.00 price target on shares of MNTN in a report on Wednesday, May 6th. Citizens Jmp lowered their price objective on MNTN from $23.00 to $19.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 6th. Weiss Ratings raised MNTN from a “sell (e+)” rating to a “sell (d)” rating in a research report on Thursday, May 28th. Morgan Stanley cut their target price on MNTN from $20.50 to $18.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 6th. Finally, Canaccord Genuity Group reduced their price target on shares of MNTN from $20.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, MNTN has an average rating of “Moderate Buy” and a consensus price target of $19.85.

MNTN Trading Down 0.0%

MNTN opened at $11.15 on Friday. The company has a fifty day simple moving average of $9.05 and a 200 day simple moving average of $9.78. The firm has a market cap of $680.14 million, a price-to-earnings ratio of -371.60 and a beta of 0.81. MNTN has a twelve month low of $7.67 and a twelve month high of $32.00.

MNTN (NYSE:MNTN) last released its earnings results on Tuesday, May 5th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.01). The company had revenue of $73.70 million during the quarter, compared to the consensus estimate of $72.63 million. MNTN had a return on equity of 16.44% and a net margin of 7.84%.MNTN’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.41) EPS. On average, analysts forecast that MNTN will post 0.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MNTN

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd acquired a new stake in MNTN in the 4th quarter valued at approximately $43,000. Los Angeles Capital Management LLC acquired a new position in MNTN during the 4th quarter worth $53,000. Royal Bank of Canada grew its stake in shares of MNTN by 2,093.6% in the fourth quarter. Royal Bank of Canada now owns 5,857 shares of the company’s stock worth $70,000 after purchasing an additional 5,590 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in shares of MNTN during the third quarter valued at $86,000. Finally, Barclays PLC raised its stake in shares of MNTN by 2,341.4% during the fourth quarter. Barclays PLC now owns 9,326 shares of the company’s stock valued at $111,000 after purchasing an additional 8,944 shares in the last quarter. 72.90% of the stock is owned by 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.