MNTN (NYSE:MNTN) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of MNTN (NYSE:MNTN) from a hold rating to a strong-buy rating in a research note published on Thursday morning,Zacks.com reports.

A number of other research firms have also recently weighed in on MNTN. Needham & Company LLC decreased their price target on MNTN from $35.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Wall Street Zen raised shares of MNTN from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of MNTN in a research report on Monday. Morgan Stanley set a $22.50 price target on MNTN in a report on Wednesday, November 5th. Finally, Evercore ISI dropped their target price on MNTN from $39.00 to $33.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $26.50.

MNTN Stock Performance

NYSE MNTN opened at $12.15 on Thursday. MNTN has a one year low of $11.46 and a one year high of $32.49. The company’s 50 day moving average price is $13.44 and its 200 day moving average price is $18.61.

MNTN (NYSE:MNTN) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.04. The company had revenue of $70.00 million during the quarter, compared to analyst estimates of $70.11 million. MNTN had a negative net margin of 16.47% and a negative return on equity of 30.86%. The business’s revenue was up 22.6% compared to the same quarter last year.

Insider Buying and Selling at MNTN

In related news, Director Hadi Partovi sold 192,598 shares of MNTN stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $13.46, for a total value of $2,592,369.08. Following the transaction, the director owned 254,922 shares of the company’s stock, valued at approximately $3,431,250.12. This trade represents a 43.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 447,520 shares of company stock valued at $6,005,775. Company insiders own 60.30% of the company’s stock.

Institutional Investors Weigh In On MNTN

A number of large investors have recently made changes to their positions in MNTN. KLP Kapitalforvaltning AS purchased a new position in MNTN during the 3rd quarter worth approximately $54,000. JPMorgan Chase & Co. acquired a new stake in shares of MNTN in the third quarter worth $86,000. Bank of America Corp DE grew 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 buying an additional 6,223 shares in the last quarter. Quantbot Technologies LP acquired a new position in MNTN in the 3rd quarter valued at approximately $170,000. Finally, BCS Private Wealth Management Inc. acquired a new position in MNTN in the second quarter worth approximately $209,000. 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.