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

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

A number of other research firms also recently weighed in on MNTN. Weiss Ratings upgraded MNTN from a “sell (e+)” rating to a “sell (d)” rating in a report on Thursday, May 28th. Canaccord Genuity Group cut their target price on MNTN from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Citizens Jmp reduced their price target on MNTN from $23.00 to $19.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 6th. Tigress Financial reissued a “strong-buy” rating and issued a $26.00 price target on shares of MNTN in a research note on Wednesday, June 3rd. Finally, Raymond James Financial restated an “outperform” rating and set a $15.00 price objective on shares of MNTN in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.85.

MNTN Price Performance

Shares of NYSE MNTN opened at $8.97 on Monday. The company has a 50 day simple moving average of $9.20 and a 200 day simple moving average of $9.67. MNTN has a 1 year low of $7.67 and a 1 year high of $32.00. The firm has a market cap of $547.26 million, a PE ratio of -299.00 and a beta of 0.81.

MNTN (NYSE:MNTN) last posted its earnings results on Tuesday, May 5th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). The business had revenue of $73.70 million for 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%.The company’s revenue was up 14.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.41) earnings per share. As a group, research analysts anticipate that MNTN will post 0.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Aster Capital Management DIFC Ltd acquired a new position in shares of MNTN during the fourth quarter valued at about $43,000. Los Angeles Capital Management LLC bought a new position in MNTN in the 4th quarter valued at about $53,000. JPMorgan Chase & Co. acquired a new position in MNTN during the 3rd quarter valued at about $86,000. Cary Street Partners Financial LLC increased its holdings in MNTN by 29.5% during the 4th quarter. Cary Street Partners Financial LLC now owns 20,385 shares of the company’s stock worth $243,000 after purchasing an additional 4,640 shares in the last quarter. Finally, Royal Bank of Canada raised 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 during 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.