MNTN (NYSE:MNTN) Given New $19.00 Price Target at Citizens Jmp

Key Points

• Citizens Jmp cut its price target to $19 (from $23) but kept a "market outperform" rating, implying roughly a 115% upside from the current price; the Street consensus target is $22 with a "Moderate Buy" average (10 Buys, 2 Holds, 1 Sell).
• Shares traded down to $8.82 (52‑week range $7.71–$32.49), the company has a market cap of about $574M and a negative P/E (~-5.68), and its 50- and 200-day moving averages indicate recent weakness.
• Latest quarter: $0.11 EPS (missed by $0.01) on $73.7M revenue, up 14.2% year-over-year; analysts project roughly $1.00 EPS for the year, and institutional investors own about 72.9% of the stock.

MNTN (NYSE:MNTN - Get Free Report) had its target price reduced by research analysts at Citizens Jmp from $23.00 to $19.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a "market outperform" rating on the stock. Citizens Jmp's price target would indicate a potential upside of 115.37% from the stock's current price.

Other equities analysts have also issued reports about the stock. Evercore set a $27.00 price objective on shares of MNTN in a research report on Wednesday, February 11th. Tigress Financial cut their price target on shares of MNTN from $36.00 to $26.00 and set a "buy" rating on the stock in a research note on Tuesday, March 3rd. Raymond James Financial restated an "outperform" rating on shares of MNTN in a research note on Wednesday. Weiss Ratings reiterated a "sell (e+)" rating on shares of MNTN in a research note on Friday, March 27th. Finally, Morgan Stanley decreased their target price on MNTN from $22.50 to $20.50 and set an "equal weight" rating for the company in a report on Tuesday, January 13th. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, MNTN presently has an average rating of "Moderate Buy" and a consensus target price of $22.00.

MNTN Price Performance

Shares of NYSE:MNTN traded down $2.54 during trading hours on Wednesday, hitting $8.82. The company's stock had a trading volume of 1,061,030 shares, compared to its average volume of 776,342. The firm's fifty day moving average price is $9.54 and its 200 day moving average price is $11.42. MNTN has a 52 week low of $7.71 and a 52 week high of $32.49. The company has a market capitalization of $574.40 million and a price-to-earnings ratio of -5.68.

MNTN (NYSE:MNTN - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.01). MNTN had a positive return on equity of 9.51% and a negative net margin of 2.22%.The company had revenue of $73.70 million for the quarter, compared to analysts' expectations of $72.63 million. During the same quarter in the prior year, the company earned ($1.41) EPS. The firm's quarterly revenue was up 14.2% on a year-over-year basis. On average, equities research analysts predict that MNTN will post 1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MNTN

Large investors have recently bought and sold shares of the business. Federated Hermes Inc. increased its position in shares of MNTN by 23.8% in the third quarter. Federated Hermes Inc. now owns 650,000 shares of the company's stock valued at $12,058,000 after buying an additional 125,000 shares in the last quarter. Pier Capital LLC purchased a new position in shares of MNTN during the 3rd quarter valued at approximately $4,211,000. Teachers Retirement System of The State of Kentucky acquired a new stake in MNTN in the 3rd quarter valued at $1,170,000. Dakota Wealth Management purchased a new stake in MNTN in the 3rd quarter worth $928,000. Finally, Quantbot Technologies LP acquired a new position in MNTN during the third quarter worth $170,000. Institutional investors and hedge funds own 72.90% of the company's stock.

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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