Analysts Set MNTN Inc. (NYSE:MNTN) PT at $25.83

MNTN Inc. (NYSE:MNTN) has received a consensus rating of “Moderate Buy” from the fourteen research firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, ten have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $25.8333.

A number of research analysts recently weighed in on MNTN shares. Morgan Stanley cut their target price 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. TD Cowen upgraded shares of MNTN to a “buy” rating in a report on Thursday, December 4th. Tigress Financial restated a “strong-buy” rating and set a $36.00 target price on shares of MNTN in a research report on Friday, November 7th. Needham & Company LLC dropped their price target on MNTN from $35.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Finally, Wall Street Zen upgraded MNTN from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th.

Insiders Place Their Bets

In related news, Director Hadi Partovi sold 86,665 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was 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 Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders sold 447,520 shares of company stock worth $6,005,775. Corporate insiders own 60.30% of the company’s stock.

Institutional Investors Weigh In On MNTN

Hedge funds and other institutional investors have recently made changes to their positions in the company. Concurrent Investment Advisors LLC bought a new stake in shares of MNTN in the 2nd quarter worth about $492,000. TD Asset Management Inc purchased a new stake in MNTN in the 2nd quarter worth about $731,000. Bank of Montreal Can bought a new stake in MNTN in the second quarter worth about $4,432,000. Claro Advisors LLC purchased a new position in shares of MNTN during the second quarter valued at approximately $336,000. Finally, HBK Investments L P bought a new position in shares of MNTN during the second quarter valued at approximately $2,187,000. Hedge funds and other institutional investors own 72.90% of the company’s stock.

MNTN Trading Down 2.3%

Shares of MNTN stock opened at $9.55 on Tuesday. The stock has a market capitalization of $422.35 million and a price-to-earnings ratio of -6.77. MNTN has a 12-month low of $9.50 and a 12-month high of $32.49. The stock’s 50-day moving average price is $12.00 and its 200-day moving average price is $17.26.

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

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.