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

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

Several brokerages have commented on MNTN. Canaccord Genuity Group cut 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. Citizens Jmp decreased their target price on MNTN from $23.00 to $19.00 and set a “market outperform” rating for the company in a research report on Wednesday, May 6th. Raymond James Financial restated an “outperform” rating and issued a $15.00 target price on shares of MNTN in a research note on Wednesday, May 6th. Weiss Ratings upgraded MNTN from a “sell (e+)” rating to a “sell (d)” rating in a research report on Thursday, May 28th. Finally, Wall Street Zen raised MNTN from a “buy” rating to a “strong-buy” rating in a research note on Monday.

MNTN Trading Down 2.5%

Shares of NYSE MNTN opened at $8.36 on Tuesday. MNTN has a 12 month low of $7.67 and a 12 month high of $32.00. The firm has a market capitalization of $509.74 million, a PE ratio of -278.50 and a beta of 0.81. The firm has a fifty day simple moving average of $9.24 and a two-hundred day simple moving average of $9.58.

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

Institutional Trading of MNTN

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Aster Capital Management DIFC Ltd purchased a new position in MNTN during the 4th quarter valued at about $43,000. Los Angeles Capital Management LLC purchased a new stake in MNTN in the fourth quarter worth about $53,000. JPMorgan Chase & Co. bought a new position in shares of MNTN during the third quarter valued at approximately $86,000. Royal Bank of Canada increased its stake in shares of MNTN by 2,093.6% during the fourth quarter. Royal Bank of Canada now owns 5,857 shares of the company’s stock valued at $70,000 after purchasing an additional 5,590 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of MNTN by 622,300.0% during the third quarter. Bank of America Corp DE now owns 6,224 shares of the company’s stock valued at $115,000 after purchasing an additional 6,223 shares during the last quarter. 72.90% of the stock is owned by hedge funds and other 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.