MNTN Inc. (NYSE:MNTN) Receives Average Rating of “Moderate Buy” from Analysts

Shares of MNTN Inc. (NYSE:MNTN) have received an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $19.85.

A number of research firms have commented on MNTN. Weiss Ratings raised shares of MNTN from a “sell (e+)” rating to a “sell (d)” rating in a research report on Thursday, May 28th. Tigress Financial restated a “strong-buy” rating and set a $26.00 price target on shares of MNTN in a research note on Wednesday, June 3rd. Morgan Stanley decreased their price target 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. Raymond James Financial restated an “outperform” rating and set a $15.00 price target on shares of MNTN in a research note on Wednesday, May 6th. Finally, Canaccord Genuity Group decreased their price target on MNTN from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th.

MNTN Stock Performance

MNTN opened at $8.38 on Friday. The business’s 50 day moving average price is $9.03 and its 200 day moving average price is $9.87. MNTN has a one year low of $7.67 and a one year high of $32.00. The stock has a market capitalization of $511.02 million and a PE ratio of -279.20.

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

Institutional Trading of MNTN

Hedge funds have recently made changes to their positions in the business. Aster Capital Management DIFC Ltd acquired a new stake in shares of MNTN during the fourth quarter worth about $43,000. Los Angeles Capital Management LLC acquired a new stake in shares of MNTN during the fourth quarter worth about $53,000. JPMorgan Chase & Co. acquired a new stake in shares of MNTN during the third quarter worth about $86,000. Royal Bank of Canada lifted its position in shares of MNTN by 2,093.6% during 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. Finally, Bank of America Corp DE raised its stake in shares of MNTN by 622,300.0% in the third quarter. Bank of America Corp DE now owns 6,224 shares of the company’s stock valued at $115,000 after acquiring an additional 6,223 shares in the last quarter. Institutional investors and hedge funds own 72.90% of the company’s stock.

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.