MNTN (NYSE:MNTN) Downgraded by Wall Street Zen to Buy

Key Points

• Wall Street Zen downgraded MNTN from “strong buy” to “buy.” Despite the change, analysts overall maintain a “Moderate Buy” consensus, with an average price target of $19.35.
• Analyst targets have generally been lowered or range from $15 to $26, while MNTN shares recently opened at $11.15—above their 50-day and 200-day moving averages but well below the 52-week high of $25.71.
• MNTN’s latest quarterly revenue rose 20.5% year over year to $82.54 million, slightly exceeding estimates, but earnings of $0.11 per share missed consensus by $0.08. Institutional investors and hedge funds own 72.9% of the company.

MNTN (NYSE:MNTN - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report issued on Saturday.

Several other research analysts also recently commented on the company. Canaccord Genuity Group lowered their target price on MNTN from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Tuesday, April 14th. Evercore set a $22.00 price objective on shares of MNTN in a research report on Wednesday. Tigress Financial reissued a "strong-buy" rating and issued a $26.00 price objective on shares of MNTN in a research note on Wednesday, June 3rd. Citizens Jmp decreased their target price on shares of MNTN from $23.00 to $19.00 and set a "market outperform" rating on the stock in a research note on Wednesday, May 6th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $19.35.

MNTN Stock Performance

Shares of MNTN stock opened at $11.15 on Friday. MNTN has a fifty-two week low of $7.67 and a fifty-two week high of $25.71. The stock's fifty day moving average price is $9.54 and its two-hundred day moving average price is $9.43. The company has a market cap of $680.02 million, a PE ratio of 15.70 and a beta of 0.71.

MNTN (NYSE:MNTN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.08). MNTN had a return on equity of 19.44% and a net margin of 18.00%.The business had revenue of $82.54 million for the quarter, compared to analyst estimates of $82.34 million. During the same period last year, the firm posted ($0.65) EPS. MNTN's quarterly revenue was up 20.5% on a year-over-year basis. On average, equities analysts predict that MNTN will post 0.93 EPS for the current fiscal year.

Hedge Funds Weigh In On MNTN

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd acquired a new stake in MNTN during the 4th quarter valued at approximately $43,000. Los Angeles Capital Management LLC acquired a new position in shares of MNTN in the 4th quarter worth approximately $53,000. JPMorgan Chase & Co. acquired a new position in shares of MNTN in the 3rd quarter worth approximately $86,000. Cary Street Partners Financial LLC boosted its stake in shares of MNTN by 29.5% in the 4th quarter. Cary Street Partners Financial LLC now owns 20,385 shares of the company's stock valued at $243,000 after purchasing an additional 4,640 shares during the last quarter. Finally, Royal Bank of Canada increased its position in shares of MNTN by 2,093.6% during the fourth quarter. Royal Bank of Canada now owns 5,857 shares of the company's stock worth $70,000 after buying an additional 5,590 shares during the period. 72.90% of the stock is owned by institutional investors and hedge funds.

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.

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