Susquehanna Has Lowered Expectations for MNTN (NYSE:MNTN) Stock Price

MNTN (NYSE:MNTN) had its price target reduced by investment analysts at Susquehanna from $38.00 to $20.00 in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The brokerage currently has a “positive” rating on the stock. Susquehanna’s price objective suggests a potential upside of 82.48% from the stock’s previous close.

A number of other equities research analysts have also weighed in on MNTN. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MNTN in a report on Monday, December 29th. Canaccord Genuity Group set a $20.00 price target on MNTN in a research note on Thursday, December 4th. Morgan Stanley cut their price objective on MNTN from $22.50 to $20.50 and set an “equal weight” rating for the company in a research report on Tuesday, January 13th. UBS Group set a $20.50 target price on MNTN in a report on Tuesday, January 13th. Finally, Needham & Company LLC lowered their price target on shares of MNTN from $35.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, MNTN currently has an average rating of “Moderate Buy” and a consensus price target of $24.15.

MNTN Stock Performance

Shares of MNTN opened at $10.96 on Wednesday. The stock has a market capitalization of $484.76 million and a P/E ratio of -7.07. MNTN has a 1 year low of $7.71 and a 1 year high of $32.49. The company’s fifty day moving average is $11.10 and its two-hundred day moving average is $15.99.

MNTN (NYSE:MNTN) last issued its earnings results on Tuesday, February 10th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.17. The business had revenue of $87.10 million for the quarter, compared to the consensus estimate of $86.18 million. MNTN had a negative net margin of 2.22% and a positive return on equity of 12.69%. The company’s revenue was up 24.8% on a year-over-year basis.

Insider Buying and Selling

In other MNTN news, Director Hadi Partovi sold 86,665 shares of the business’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $13.39, for a total transaction of $1,160,444.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold 447,520 shares of company stock worth $6,005,775 in the last quarter. 60.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Liontrust Investment Partners LLP purchased a new position in MNTN during the 2nd quarter valued at about $3,170,000. Federated Hermes Inc. grew its position in shares of MNTN by 23.8% in the third quarter. Federated Hermes Inc. now owns 650,000 shares of the company’s stock valued at $12,058,000 after purchasing an additional 125,000 shares during the last quarter. TD Asset Management Inc purchased a new position in shares of MNTN during the 2nd quarter worth approximately $731,000. Bank of Montreal Can acquired a new position in shares of MNTN during the 2nd quarter worth approximately $4,432,000. Finally, G2 Investment Partners Management LLC purchased a new stake in MNTN in the 2nd quarter valued at approximately $6,996,000. Institutional investors and hedge funds own 72.90% of the company’s stock.

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.