MNTN (NYSE:MNTN) Shares Up 7.7% – What’s Next?

Shares of MNTN Inc. (NYSE:MNTN) traded up 7.7% on Friday . The stock traded as high as $9.09 and last traded at $9.05. Approximately 758,897 shares were traded during mid-day trading, a decline of 12% from the average daily volume of 861,430 shares. The stock had previously closed at $8.40.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Raymond James Financial reissued an “outperform” rating and issued a $15.00 target price on shares of MNTN in a report on Wednesday, May 6th. Weiss Ratings upgraded MNTN from a “sell (e+)” rating to a “sell (d)” rating in a research report on Thursday, May 28th. Morgan Stanley dropped their price objective on MNTN from $20.50 to $18.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 6th. Citizens Jmp cut their price objective on MNTN from $23.00 to $19.00 and set a “market outperform” rating for the company in a report on Wednesday, May 6th. Finally, Tigress Financial restated a “strong-buy” rating and issued a $26.00 target price on shares of MNTN in a research note on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, MNTN currently has an average rating of “Moderate Buy” and a consensus price target of $19.85.

MNTN Price Performance

The company has a market cap of $551.62 million and a P/E ratio of -301.83. The business’s 50 day moving average price is $9.03 and its 200-day moving average price is $9.87.

MNTN (NYSE:MNTN) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). MNTN had a return on equity of 16.44% and a net margin of 7.84%.The business had revenue of $73.70 million during the quarter, compared to analyst estimates of $72.63 million. During the same period in the prior year, the firm posted ($1.41) EPS. MNTN’s revenue for the quarter was up 14.2% compared to the same quarter last year. As a group, research analysts forecast that MNTN Inc. will post 0.99 EPS for the current year.

Institutional Investors Weigh In On MNTN

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mercato Management Legacy LLC acquired a new position in shares of MNTN during the first quarter worth approximately $54,279,000. Mercato Partners Growth Iii GP LLC bought a new position in MNTN in the 4th quarter worth approximately $73,646,000. Wellington Management Group LLP raised its position in MNTN by 67.8% in the 3rd quarter. Wellington Management Group LLP now owns 5,345,302 shares of the company’s stock worth $99,155,000 after purchasing an additional 2,159,075 shares during the last quarter. Vanguard Group Inc. lifted its holdings in MNTN by 787.7% during the 3rd quarter. Vanguard Group Inc. now owns 621,392 shares of the company’s stock worth $11,527,000 after buying an additional 551,392 shares in the last quarter. Finally, Mariner LLC bought a new position in MNTN in the 4th quarter valued at $4,306,000. 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.