MNTN (NYSE:MNTN) Trading 9% Higher – What’s Next?

MNTN Inc. (NYSE:MNTN)’s stock price was up 9% during trading on Monday . The stock traded as high as $9.31 and last traded at $9.3550. 347,371 shares changed hands during trading, a decline of 63% from the average session volume of 945,036 shares. The stock had previously closed at $8.58.

Analyst Ratings Changes

MNTN has been the subject of a number of recent analyst reports. Morgan Stanley lowered their price target on shares of MNTN from $20.50 to $18.00 and set an “equal weight” rating for the company in a report on Wednesday, May 6th. Citizens Jmp decreased their price objective on shares of MNTN from $23.00 to $19.00 and set a “market outperform” rating for the company in a research report on Wednesday, May 6th. Canaccord Genuity Group dropped their target price on MNTN from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Raymond James Financial reiterated an “outperform” rating and issued a $15.00 price target on shares of MNTN in a research note on Wednesday, May 6th. Finally, Wall Street Zen upgraded MNTN from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.85.

MNTN Stock Performance

The company has a market cap of $582.65 million, a P/E ratio of -318.33 and a beta of 0.81. The business has a fifty day simple moving average of $9.31 and a 200 day simple moving average of $9.51.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MNTN. Aster Capital Management DIFC Ltd acquired a new stake in MNTN during the fourth quarter worth about $43,000. Los Angeles Capital Management LLC bought a new position in shares of MNTN during the fourth quarter valued at approximately $53,000. JPMorgan Chase & Co. bought a new position in shares of MNTN during the third quarter valued at approximately $86,000. Cary Street Partners Financial LLC raised its position in shares of MNTN by 29.5% during the 4th quarter. Cary Street Partners Financial LLC now owns 20,385 shares of the company’s stock worth $243,000 after purchasing an additional 4,640 shares during the period. Finally, Royal Bank of Canada lifted its holdings in shares of MNTN by 2,093.6% in the 4th 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. 72.90% of the stock is owned by institutional investors and hedge funds.

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.