MNTN (NYSE:MNTN) Raised to “Strong-Buy” at Wall Street Zen

MNTN (NYSE:MNTN) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Monday.

Several other analysts have also weighed in on the company. Weiss Ratings upgraded MNTN from a “sell (e+)” rating to a “sell (d)” rating in a report on Thursday, May 28th. Morgan Stanley lowered their target price on MNTN from $20.50 to $18.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 6th. Tigress Financial reiterated a “strong-buy” rating and issued a $26.00 price target on shares of MNTN in a research report on Wednesday, June 3rd. Canaccord Genuity Group reduced their price objective on shares of MNTN from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Finally, Citizens Jmp reduced their price objective on MNTN from $23.00 to $19.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.85.

MNTN Price Performance

MNTN stock opened at $8.79 on Monday. MNTN has a 12-month low of $7.67 and a 12-month high of $32.00. The stock has a market capitalization of $536.58 million, a PE ratio of -293.17 and a beta of 0.81. The firm has a 50 day simple moving average of $9.22 and a 200-day simple moving average of $9.63.

MNTN (NYSE:MNTN) last released 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). The firm had revenue of $73.70 million during the quarter, compared to analyst estimates of $72.63 million. MNTN had a return on equity of 16.44% and a net margin of 7.84%.The business’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter last year, the company earned ($1.41) earnings per share. On average, analysts forecast that MNTN will post 0.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mercato Management Legacy LLC acquired a new position in MNTN in the 1st quarter valued at approximately $54,279,000. Mercato Partners Growth Iii GP LLC acquired a new stake in shares of MNTN during the 4th quarter valued at $73,646,000. Wellington Management Group LLP boosted its stake in shares of MNTN by 7.2% during the 4th quarter. Wellington Management Group LLP now owns 5,730,723 shares of the company’s stock valued at $68,425,000 after buying an additional 385,421 shares during the period. Bienville Capital Management LLC grew its holdings in shares of MNTN by 49.4% during the 4th quarter. Bienville Capital Management LLC now owns 919,052 shares of the company’s stock valued at $10,973,000 after acquiring an additional 303,905 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in shares of MNTN by 4.6% in the fourth quarter. Federated Hermes Inc. now owns 680,000 shares of the company’s stock worth $8,119,000 after acquiring an additional 30,000 shares during the last quarter. 72.90% of the stock is 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.