MNTN (NYSE:MNTN) Shares Down 7.5% - What's Next?

Key Points

• MNTN shares fell 7.5% on Friday, trading below the prior close amid relatively light volume compared with its average session activity.
• Despite the stock drop, Wall Street analysts remain generally constructive: the stock has a Moderate Buy consensus rating and an average price target of $19.85, with several firms maintaining buy/outperform calls.
• The company’s latest earnings showed revenue growth of 14.2% year over year to $73.7 million, but EPS of $0.11 missed expectations by $0.01; institutional investors still own about 72.9% of the shares.

Shares of MNTN Inc. (NYSE:MNTN - Get Free Report) fell 7.5% on Friday . The company traded as low as $9.13 and last traded at $9.0530. 160,323 shares were traded during mid-day trading, a decline of 83% from the average session volume of 945,355 shares. The stock had previously closed at $9.79.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MNTN shares. Raymond James Financial reaffirmed an "outperform" rating and set a $15.00 price objective on shares of MNTN in a research note 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 reduced their price objective on shares of MNTN from $20.50 to $18.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 6th. Tigress Financial restated a "strong-buy" rating and set a $26.00 price objective on shares of MNTN in a report on Wednesday, June 3rd. Finally, Canaccord Genuity Group cut their target price on shares of MNTN from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, MNTN has an average rating of "Moderate Buy" and an average price target of $19.85.

MNTN Stock Down 6.4%

The company has a market capitalization of $559.16 million, a P/E ratio of -305.33 and a beta of 0.81. The firm has a fifty day simple moving average of $9.19 and a 200-day simple moving average of $9.69.

MNTN (NYSE:MNTN - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.01). MNTN had a net margin of 7.84% and a return on equity of 16.44%. The business 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 firm earned ($1.41) EPS. The company's revenue for the quarter was up 14.2% on a year-over-year basis. On average, sell-side analysts predict that MNTN Inc. will post 0.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MNTN

Large investors have recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new stake in shares of MNTN in the fourth quarter valued at about $43,000. Los Angeles Capital Management LLC acquired a new position in MNTN during the 4th quarter worth approximately $53,000. JPMorgan Chase & Co. bought a new position in shares of MNTN during the 3rd quarter worth approximately $86,000. Cary Street Partners Financial LLC grew its stake 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 acquiring an additional 4,640 shares in the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of MNTN by 2,093.6% in the fourth quarter. Royal Bank of Canada now owns 5,857 shares of the company's stock valued at $70,000 after purchasing an additional 5,590 shares during the last quarter. Institutional investors 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.

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