MNTN (NYSE:MNTN) Downgraded by Wall Street Zen to Buy

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

Several other brokerages have also recently weighed in on MNTN. Tigress Financial restated 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 lowered 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. Morgan Stanley reduced their target price on shares of MNTN from $20.50 to $18.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 6th. Raymond James Financial restated an “outperform” rating and set a $15.00 target price on shares of MNTN in a research report on Wednesday, May 6th. Finally, Citizens Jmp lowered their price target on shares of MNTN from $23.00 to $19.00 and set a “market outperform” rating for the company in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.85.

MNTN Trading Down 2.0%

MNTN stock traded down $0.22 during midday trading on Friday, hitting $10.58. The stock had a trading volume of 625,439 shares, compared to its average volume of 1,594,638. MNTN has a 52-week low of $7.67 and a 52-week high of $32.00. The company has a market capitalization of $645.58 million, a PE ratio of -352.70 and a beta of 0.81. The firm’s fifty day moving average is $9.16 and its two-hundred day moving average is $9.75.

MNTN (NYSE:MNTN) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.01). The business had revenue of $73.70 million during the quarter, compared to analysts’ expectations of $72.63 million. MNTN had a net margin of 7.84% and a return on equity of 16.44%. MNTN’s revenue was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.41) earnings per share. As a group, equities research analysts predict that MNTN will post 0.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MNTN

Several institutional investors have recently bought and sold shares of MNTN. Aster Capital Management DIFC Ltd purchased a new position in shares of MNTN in the 4th quarter worth approximately $43,000. Los Angeles Capital Management LLC acquired a new stake in MNTN in the fourth quarter valued at approximately $53,000. Royal Bank of Canada grew its holdings in MNTN by 2,093.6% in the fourth quarter. Royal Bank of Canada now owns 5,857 shares of the company’s stock worth $70,000 after purchasing an additional 5,590 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in MNTN in the third quarter worth $86,000. Finally, Barclays PLC increased its position in shares of MNTN by 2,341.4% during the fourth quarter. Barclays PLC now owns 9,326 shares of the company’s stock worth $111,000 after purchasing an additional 8,944 shares in 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.