MNTN Inc. (NYSE:MNTN) Receives $22.55 Consensus Target Price from Analysts

Shares of MNTN Inc. (NYSE:MNTN) have earned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $22.5455.

A number of research firms have issued reports on MNTN. Susquehanna reduced their target price on shares of MNTN from $38.00 to $20.00 and set a “positive” rating for the company in a research note on Wednesday, February 11th. Citigroup cut their price target on shares of MNTN from $22.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Tigress Financial reduced their price objective on shares of MNTN from $36.00 to $26.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. TD Cowen upgraded shares of MNTN to a “buy” rating in a report on Thursday, December 4th. Finally, Canaccord Genuity Group set a $20.00 target price on shares of MNTN in a research report on Thursday, December 4th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd acquired a new stake in MNTN in the 4th quarter worth approximately $43,000. Los Angeles Capital Management LLC acquired a new position in MNTN during the fourth quarter valued at approximately $53,000. KLP Kapitalforvaltning AS acquired a new position in MNTN during the third quarter valued at approximately $54,000. Royal Bank of Canada raised its position in shares of MNTN by 2,093.6% in 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 during the period. Finally, JPMorgan Chase & Co. acquired a new stake in shares of MNTN in the third quarter worth $86,000. Institutional investors and hedge funds own 72.90% of the company’s stock.

MNTN Price Performance

MNTN opened at $8.98 on Wednesday. The company has a market capitalization of $663.28 million and a PE ratio of -5.79. MNTN has a fifty-two week low of $7.71 and a fifty-two week high of $32.49. The business has a 50-day moving average of $9.94 and a 200-day moving average of $13.46.

MNTN (NYSE:MNTN) last released its quarterly earnings data on Tuesday, February 10th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.17. The firm had revenue of $87.10 million for the quarter, compared to the consensus estimate of $86.18 million. MNTN had a positive return on equity of 9.51% and a negative net margin of 2.22%.The company’s quarterly revenue was up 24.8% compared to the same quarter last year.

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.