Brokerages Set MNTN Inc. (NYSE:MNTN) Target Price at $22.55

MNTN Inc. (NYSE:MNTN) has received an average recommendation of “Moderate Buy” from the thirteen analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $22.3636.

A number of research analysts have issued reports on the company. Citigroup decreased their target price on MNTN from $22.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Evercore set a $27.00 target price on MNTN in a research report on Wednesday, February 11th. UBS Group set a $20.50 target price on MNTN in a research report on Tuesday, January 13th. Susquehanna decreased their target price on MNTN from $38.00 to $20.00 and set a “positive” rating on the stock in a research report on Wednesday, February 11th. Finally, Wall Street Zen upgraded MNTN from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 14th.

MNTN Stock Up 3.6%

MNTN stock opened at $9.07 on Friday. MNTN has a 12-month low of $7.71 and a 12-month high of $32.49. The business’s 50-day moving average price is $9.42 and its two-hundred day moving average price is $12.09. The stock has a market cap of $669.71 million and a PE ratio of -5.85.

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

Institutional Trading of MNTN

Hedge funds and other institutional investors have recently made changes to their positions in the company. Liontrust Investment Partners LLP bought a new stake in shares of MNTN during the second quarter worth about $3,170,000. Federated Hermes Inc. grew its holdings in shares of MNTN by 23.8% during the third quarter. Federated Hermes Inc. now owns 650,000 shares of the company’s stock worth $12,058,000 after purchasing an additional 125,000 shares during the last quarter. G2 Investment Partners Management LLC bought a new stake in shares of MNTN during the second quarter worth about $6,996,000. Fortress Investment Group LLC bought a new stake in shares of MNTN during the second quarter worth about $2,420,000. Finally, Pier Capital LLC bought a new stake in shares of MNTN during the third quarter worth about $4,211,000. 72.90% of the stock is currently owned by 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.