Wall Street Zen Downgrades MNTN (NYSE:MNTN) to Buy

MNTN (NYSE:MNTN) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other brokerages also recently weighed in on MNTN. Raymond James Financial reaffirmed an “outperform” rating and issued a $15.00 target price on shares of MNTN in a report on Wednesday, May 6th. Evercore set a $22.00 price objective on MNTN in a research report on Wednesday. Citizens Jmp dropped their price objective on MNTN from $23.00 to $19.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 6th. Morgan Stanley cut their target price on MNTN from $20.50 to $18.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 6th. Finally, Weiss Ratings raised MNTN from a “sell (e+)” rating to a “sell (d)” rating in a research note on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, MNTN currently has an average rating of “Moderate Buy” and a consensus target price of $19.35.

MNTN Trading Up 0.3%

NYSE MNTN opened at $11.15 on Friday. MNTN has a 12 month low of $7.67 and a 12 month high of $25.71. The stock has a market cap of $680.02 million, a price-to-earnings ratio of 15.70 and a beta of 0.71. The company’s 50 day moving average is $9.54 and its two-hundred day moving average is $9.42.

MNTN (NYSE:MNTN) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.08). The firm had revenue of $82.54 million during the quarter, compared to analysts’ expectations of $82.34 million. MNTN had a return on equity of 19.44% and a net margin of 18.00%.The business’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same period last year, the company earned ($0.65) earnings per share. Sell-side analysts forecast that MNTN will post 0.93 EPS for the current year.

Institutional Trading of MNTN

A number of large investors have recently made changes to their positions in MNTN. Soros Fund Management LLC bought a new position in shares of MNTN in the 2nd quarter valued at about $2,187,000. Raymond James Financial Inc. bought a new stake in MNTN during the second quarter worth approximately $2,111,000. Bamco Inc. NY bought a new stake in MNTN during the second quarter worth approximately $1,531,000. Balyasny Asset Management L.P. purchased a new stake in MNTN during the second quarter valued at approximately $3,442,000. Finally, Boothbay Fund Management LLC bought a new stake in shares of MNTN in the 2nd quarter valued at approximately $2,183,000. 72.90% of the stock is currently owned by institutional investors.

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.