MNTN (NYSE:MNTN) Trading Up 12.5% – Still a Buy?

MNTN Inc. (NYSE:MNTN)’s stock price was up 12.5% on Monday . The stock traded as high as $10.65 and last traded at $10.6060. Approximately 1,560,585 shares traded hands during trading, an increase of 92% from the average daily volume of 811,550 shares. The stock had previously closed at $9.43.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MNTN shares. Susquehanna decreased their price target on MNTN from $38.00 to $20.00 and set a “positive” rating on the stock in a report on Wednesday, February 11th. Tigress Financial cut their price objective on MNTN from $36.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Citizens Jmp cut their price objective 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. Citigroup cut their price objective on MNTN from $22.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Finally, Morgan Stanley dropped their price target on MNTN from $20.50 to $18.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 6th. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, MNTN has a consensus rating of “Moderate Buy” and an average price target of $20.68.

MNTN Price Performance

The business has a 50-day moving average of $9.01 and a two-hundred day moving average of $10.51. The company has a market cap of $647.56 million and a P/E ratio of -351.67.

MNTN (NYSE:MNTN) last issued its quarterly earnings data 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). MNTN had a net margin of 7.84% and a return on equity of 16.44%. The company had revenue of $73.70 million for the quarter, compared to the consensus estimate of $72.63 million. During the same period in the previous year, the business earned ($1.41) EPS. MNTN’s revenue for the quarter was up 14.2% compared to the same quarter last year. Equities analysts anticipate that MNTN Inc. will post 0.99 EPS for the current fiscal year.

Institutional Investors Weigh In On MNTN

A number of institutional investors have recently added to or reduced their stakes in MNTN. Mercato Management Legacy LLC purchased a new stake in MNTN in the first quarter valued at about $54,279,000. Mercato Partners Growth Iii GP LLC purchased a new stake in MNTN in the fourth quarter valued at about $73,646,000. Wellington Management Group LLP raised its stake in MNTN by 67.8% in the third quarter. Wellington Management Group LLP now owns 5,345,302 shares of the company’s stock valued at $99,155,000 after buying an additional 2,159,075 shares during the last quarter. Vanguard Group Inc. raised its stake in MNTN by 787.7% in the third quarter. Vanguard Group Inc. now owns 621,392 shares of the company’s stock valued at $11,527,000 after buying an additional 551,392 shares during the last quarter. Finally, Mariner LLC purchased a new stake in MNTN in the fourth quarter valued at about $4,306,000. 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.