MNTN (NYSE:MNTN) Trading 7.2% Higher – Time to Buy?

MNTN Inc. (NYSE:MNTN)’s share price traded up 7.2% on Thursday . The company traded as high as $10.73 and last traded at $10.64. 502,419 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 953,897 shares. The stock had previously closed at $9.93.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MNTN. Citigroup decreased their target price on shares of MNTN from $22.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Evercore set a $27.00 price target on MNTN in a research note on Wednesday, February 11th. Weiss Ratings reissued a “sell (e+)” rating on shares of MNTN in a report on Monday, December 29th. Morgan Stanley lowered their price objective on MNTN from $22.50 to $20.50 and set an “equal weight” rating for the company in a research note on Tuesday, January 13th. Finally, Tigress Financial cut their target price on MNTN from $36.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, MNTN has a consensus rating of “Moderate Buy” and a consensus price target of $22.55.

MNTN Price Performance

The company’s fifty day moving average price is $10.41 and its 200 day moving average price is $14.27. The company has a market cap of $785.24 million and a PE ratio of -6.86.

MNTN (NYSE:MNTN) last released its quarterly earnings results on Tuesday, February 10th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.17. MNTN had a negative net margin of 2.22% and a positive return on equity of 9.51%. The business had revenue of $87.10 million for the quarter, compared to analysts’ expectations of $86.18 million. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis.

Hedge Funds Weigh In On MNTN

Several institutional investors have recently modified their holdings of the business. Aster Capital Management DIFC Ltd bought a new stake in MNTN during the fourth quarter worth $43,000. Los Angeles Capital Management LLC bought a new position in MNTN in the 4th quarter valued at $53,000. KLP Kapitalforvaltning AS purchased a new stake in shares of MNTN during the 3rd quarter valued at $54,000. Royal Bank of Canada increased its position in shares of MNTN by 2,093.6% during the 4th quarter. Royal Bank of Canada now owns 5,857 shares of the company’s stock valued at $70,000 after purchasing an additional 5,590 shares during the last quarter. Finally, JPMorgan Chase & Co. bought a new stake in shares of MNTN during the 3rd quarter worth $86,000. 72.90% of the stock is owned by institutional investors.

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.