Brokerages Set MNTN Inc. (NYSE:MNTN) Target Price at $19.85

MNTN Inc. (NYSE:MNTN) has been assigned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $19.85.

MNTN has been the subject of several recent research reports. Raymond James Financial reissued an “outperform” rating and issued a $15.00 price objective on shares of MNTN in a research note on Wednesday, May 6th. Canaccord Genuity Group reduced their target price on shares of MNTN from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Weiss Ratings raised shares of MNTN from a “sell (e+)” rating to a “sell (d)” rating in a research report on Thursday, May 28th. Tigress Financial restated a “strong-buy” rating and issued a $26.00 price target on shares of MNTN in a research note on Wednesday, June 3rd. Finally, Wall Street Zen cut MNTN from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 6th.

Institutional Investors Weigh In On MNTN

A number of hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. purchased a new position in shares of MNTN in the 1st quarter valued at about $771,000. Zazove Associates LLC increased its stake in shares of MNTN by 18.7% during the first quarter. Zazove Associates LLC now owns 150,322 shares of the company’s stock worth $1,323,000 after buying an additional 23,721 shares during the period. Militia Capital Management LLC acquired a new stake in MNTN in the first quarter valued at approximately $2,362,000. Renaissance Technologies LLC lifted its stake in MNTN by 40.7% in the first quarter. Renaissance Technologies LLC now owns 646,217 shares of the company’s stock worth $5,687,000 after acquiring an additional 187,028 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in MNTN in the first quarter worth approximately $162,000. Institutional investors and hedge funds own 72.90% of the company’s stock.

MNTN Trading Up 2.7%

MNTN stock opened at $11.15 on Friday. The business’s fifty day moving average price is $9.03 and its 200 day moving average price is $9.77. MNTN has a 12-month low of $7.67 and a 12-month high of $32.00. The company has a market capitalization of $680.14 million, a PE ratio of -371.60 and a beta of 0.81.

MNTN (NYSE:MNTN) last announced its earnings results on Tuesday, May 5th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). The firm had revenue of $73.70 million for the quarter, compared to analysts’ expectations of $72.63 million. MNTN had a net margin of 7.84% and a return on equity of 16.44%. The business’s revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the business earned ($1.41) earnings per share. Research analysts predict that MNTN will post 0.99 EPS for the current fiscal year.

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.