Analysts Set MNTN Inc. (NYSE:MNTN) Price Target at $26.50

MNTN Inc. (NYSE:MNTN) has earned a consensus rating of “Moderate Buy” from the fourteen brokerages that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, ten have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $26.50.

A number of research analysts have recently issued reports on the stock. Needham & Company LLC reduced their price target on shares of MNTN from $35.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Morgan Stanley set a $22.50 target price on shares of MNTN in a report on Wednesday, November 5th. Evercore ISI lowered their target price on MNTN from $39.00 to $33.00 and set an “outperform” rating for the company in a report on Wednesday, November 5th. Citizens Jmp cut their price target on MNTN from $33.00 to $23.00 and set a “market outperform” rating on the stock in a report on Wednesday, November 5th. Finally, Wall Street Zen upgraded MNTN from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th.

MNTN Trading Down 1.1%

Shares of MNTN opened at $12.39 on Friday. MNTN has a 52 week low of $11.46 and a 52 week high of $32.49. The stock has a 50 day moving average of $13.24 and a 200-day moving average of $18.47.

MNTN (NYSE:MNTN) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.04. The business had revenue of $70.00 million for the quarter, compared to analyst estimates of $70.11 million. MNTN had a negative return on equity of 30.86% and a negative net margin of 16.47%.The firm’s quarterly revenue was up 22.6% on a year-over-year basis.

Insider Buying and Selling at MNTN

In related news, Director Hadi Partovi sold 86,665 shares of MNTN stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $13.39, for a total value of $1,160,444.35. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 447,520 shares of company stock valued at $6,005,775.

Institutional Investors Weigh In On MNTN

A number of hedge funds have recently made changes to their positions in MNTN. KLP Kapitalforvaltning AS acquired a new position in shares of MNTN during the third quarter worth approximately $54,000. JPMorgan Chase & Co. acquired a new position in MNTN during the 3rd quarter worth $86,000. Bank of America Corp DE grew 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 worth $115,000 after purchasing an additional 6,223 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of MNTN during the third quarter valued at $170,000. Finally, AMH Equity Ltd bought a new stake in shares of MNTN during the third quarter valued at about $186,000. Institutional investors own 72.90% of the company’s stock.

About MNTN

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.