MNTN (NYSE:MNTN) Shares Gap Up on Analyst Upgrade

MNTN Inc. (NYSE:MNTN)’s stock price gapped up before the market opened on Friday after Citigroup upgraded the stock from a neutral rating to a buy rating. The stock had previously closed at $16.01, but opened at $17.15. Citigroup now has a $22.00 price target on the stock, down from their previous price target of $33.00. MNTN shares last traded at $17.65, with a volume of 165,759 shares traded.

A number of other brokerages also recently commented on MNTN. Tigress Financial raised shares of MNTN from a “buy” rating to a “strong-buy” rating and increased their price target for the company from $28.00 to $36.00 in a report on Monday, August 11th. Evercore ISI raised their price objective on MNTN from $27.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, August 6th. JMP Securities lifted their target price on MNTN from $30.00 to $33.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 6th. Needham & Company LLC raised their price target on MNTN from $25.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Finally, Morgan Stanley boosted their price objective on shares of MNTN from $20.00 to $25.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.70.

Institutional Trading of MNTN

A number of hedge funds and other institutional investors have recently bought and sold shares of MNTN. TD Asset Management Inc purchased a new stake in shares of MNTN during the second quarter valued at $731,000. Concurrent Investment Advisors LLC purchased a new stake in MNTN in the 2nd quarter valued at about $492,000. Zazove Associates LLC purchased a new stake in MNTN in the 3rd quarter valued at about $928,000. Liontrust Investment Partners LLP purchased a new position in shares of MNTN during the second quarter worth approximately $3,170,000. Finally, G2 Investment Partners Management LLC bought a new stake in shares of MNTN during the second quarter valued at approximately $6,996,000. Hedge funds and other institutional investors own 72.90% of the company’s stock.

MNTN Stock Up 14.9%

The firm’s fifty day moving average is $18.91.

MNTN (NYSE:MNTN) last issued its earnings results on Tuesday, August 5th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). The business had revenue of $68.46 million during the quarter, compared to analyst estimates of $64.54 million. MNTN’s revenue for the quarter was up 25.0% compared to the same quarter last year. MNTN has set its Q3 2025 guidance at EPS.

About MNTN

MNTN is on a mission to transform Connected TV (“CTV”) into a next-generation performance marketing channel. Our revolutionary Performance TV (“PTV”) software platform allows marketers to combine the powerful storytelling format of TV advertising with the targeting, measurement and attribution capabilities of paid search and social advertising.