Susquehanna Issues Pessimistic Forecast for MNTN (NYSE:MNTN) Stock Price

Key Points

• Susquehanna cut its MNTN price target to $12 from $20 but maintained a Positive rating, implying 15.34% upside from the current share price.
• MNTN’s latest quarter missed analyst expectations: EPS was $0.10 versus $0.20 forecast, and revenue was $80.25 million versus $87.77 million, despite 14.6% year-over-year revenue growth.
• Raymond James and Citizens JMP downgraded the stock to Market Perform, while management’s go-to-market issues led to a guidance cut. Analysts’ consensus rating is Hold, with an average target of $16.20.

MNTN (NYSE:MNTN - Get Free Report) had its price objective lowered by investment analysts at Susquehanna from $20.00 to $12.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a "positive" rating on the stock. Susquehanna's price target indicates a potential upside of 15.34% from the stock's current price.

A number of other research analysts have also weighed in on MNTN. Raymond James Financial lowered shares of MNTN from an "outperform" rating to a "market perform" rating in a research note on Thursday. Citizens Jmp downgraded shares of MNTN from an "outperform" rating to a "market perform" rating in a research report on Thursday. Wall Street Zen upgraded shares of MNTN from a "hold" rating to a "buy" rating in a report on Monday, September 28th. Freedom Broker initiated coverage on shares of MNTN in a research report on Tuesday. They issued a "buy" rating and a $16.50 price objective on the stock. Finally, Evercore lowered shares of MNTN from an "outperform" rating to an "in-line" rating and set a $7.00 target price for the company. in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, MNTN has a consensus rating of "Hold" and an average target price of $16.20.

MNTN Trading Up 6.9%

MNTN stock opened at $10.40 on Thursday. The business's 50-day moving average price is $10.87 and its two-hundred day moving average price is $9.97. The firm has a market cap of $643.93 million, a PE ratio of 14.65 and a beta of 1.17. MNTN has a 1-year low of $7.67 and a 1-year high of $14.98.

MNTN (NYSE:MNTN - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.10). MNTN had a return on equity of 18.85% and a net margin of 18.00%. The business had revenue of $80.25 million during the quarter, compared to the consensus estimate of $87.77 million. During the same quarter last year, the company earned $0.08 earnings per share. The firm's revenue was up 14.6% compared to the same quarter last year. On average, analysts forecast that MNTN will post 0.87 earnings per share for the current year.

Insider Transactions at MNTN

In other MNTN news, major shareholder Baroda Ventures Llc sold 275,115 shares of the business's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $12.75, for a total value of $3,507,716.25. Following the sale, the insider owned 6,375,543 shares in the company, valued at approximately $81,288,173.25. The trade was a 4.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders sold 335,555 shares of company stock valued at $4,266,038. 19.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MNTN

Several hedge funds have recently made changes to their positions in the business. Mercato Management Legacy LLC bought a new position in MNTN in the first quarter valued at $54,279,000. Militia Capital Management LLC acquired a new stake in MNTN in the 1st quarter valued at $2,362,000. Renaissance Technologies LLC lifted its position in MNTN by 40.7% during the 1st quarter. Renaissance Technologies LLC now owns 646,217 shares of the company's stock worth $5,687,000 after buying an additional 187,028 shares in the last quarter. One Way Holdings LLC bought a new stake in MNTN during the 3rd quarter worth about $1,122,000. Finally, Pacer Advisors Inc. bought a new stake in MNTN during the 1st quarter worth about $771,000. 72.90% of the stock is owned by institutional investors.

Key Stories Impacting MNTN

Here are the key news stories impacting MNTN this week:

• Positive Sentiment: Third-quarter revenue increased 14.6% year over year, and EPS rose to $0.10 from $0.08 a year earlier. However, both revenue and earnings missed analysts’ estimates. MNTN Q3 earnings results
• Negative Sentiment: MNTN reported $0.10 per share versus a consensus estimate of $0.20, while revenue of $80.25 million came in below expectations of $87.77 million. The earnings and sales misses raise concerns about execution and near-term growth. MNTN Q3 earnings and revenues lag estimates
• Negative Sentiment: Management’s go-to-market issues prompted a guidance cut, adding to concerns beyond the quarterly miss. MNTN guidance cut
• Negative Sentiment: Raymond James and Citizens JMP both downgraded MNTN to Market Perform from more favorable ratings, signaling reduced conviction in the stock’s near-term upside. Raymond James downgrade

About MNTN

MNTN, Inc is an advertising technology company that provides software for planning, launching, measuring and optimizing connected television (CTV) advertising campaigns. Its platform is designed to help businesses use television advertising with the targeting, automation and performance measurement capabilities commonly associated with digital marketing.

The company's products support campaign creation, audience targeting, media buying and analytics across streaming television environments.

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