MNTN (NYSE:MNTN) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of MNTN (NYSE:MNTN) from a buy rating to a strong-buy rating in a research report released on Monday.

Several other analysts have also issued reports on MNTN. Morgan Stanley cut their price target on MNTN from $20.50 to $18.00 and set an “equal weight” rating for the company in a report on Wednesday, May 6th. Citizens Jmp decreased their price objective on MNTN from $23.00 to $19.00 and set a “market outperform” rating on the stock in a research note on Wednesday, May 6th. Canaccord Genuity Group lowered their price objective on MNTN from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Raymond James Financial reissued an “outperform” rating and issued a $15.00 target price on shares of MNTN in a report on Wednesday, May 6th. Finally, Tigress Financial reaffirmed a “strong-buy” rating and set a $26.00 price target on shares of MNTN in a report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, MNTN currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.85.

MNTN Trading Down 1.8%

Shares of MNTN stock opened at $8.78 on Monday. MNTN has a 12 month low of $7.67 and a 12 month high of $32.00. The stock has a market cap of $535.36 million, a P/E ratio of -292.50 and a beta of 0.81. The company has a 50 day simple moving average of $9.21 and a two-hundred day simple moving average of $9.65.

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

Hedge Funds Weigh In On MNTN

Several large investors have recently made changes to their positions in the business. Pacer Advisors Inc. bought a new position in shares of MNTN in the first quarter worth about $771,000. Zazove Associates LLC raised its stake in MNTN by 18.7% during the 1st quarter. Zazove Associates LLC now owns 150,322 shares of the company’s stock valued at $1,323,000 after purchasing an additional 23,721 shares during the period. Militia Capital Management LLC purchased a new position in MNTN in the 1st quarter worth approximately $2,362,000. Renaissance Technologies LLC boosted its stake in MNTN by 40.7% in the 1st quarter. Renaissance Technologies LLC now owns 646,217 shares of the company’s stock worth $5,687,000 after purchasing an additional 187,028 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in MNTN in the 1st quarter worth approximately $162,000. 72.90% of the stock is currently owned by hedge funds and other 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.