MNTN (NYSE:MNTN) Shares Gap Up Following Analyst Upgrade

Key Points

• MNTN Inc. shares gapped up to $17.15 after Citigroup upgraded its rating from neutral to buy, setting a new price target of $22.00, down from $33.00.
• Multiple analysts have recently raised their price targets for MNTN, with estimates ranging from $25.00 to $39.00 and a consensus rating of "Moderate Buy."
• The company's quarterly revenue increased by 25% year-over-year to $68.46 million, although it reported a loss of ($0.08) earnings per share, missing estimates by $0.02.

MNTN Inc. (NYSE:MNTN - Get Free Report) gapped up before the market opened on Friday after Citigroup upgraded the stock from a neutral rating to a buy rating. The stock had previously closed at $16.01, but opened at $17.15. Citigroup now has a $22.00 price target on the stock, down from their previous price target of $33.00. MNTN shares last traded at $17.65, with a volume of 165,759 shares traded.

MNTN has been the subject of a number of other research reports. Morgan Stanley increased their target price on MNTN from $20.00 to $25.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. JMP Securities boosted their price target on shares of MNTN from $30.00 to $33.00 and gave the stock a "market outperform" rating in a research report on Wednesday, August 6th. Evercore ISI increased their price target on MNTN from $27.00 to $39.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. Tigress Financial raised MNTN from a "buy" rating to a "strong-buy" rating and raised their target price for the stock from $28.00 to $36.00 in a research note on Monday, August 11th. Finally, Needham & Company LLC upped their price objective on shares of MNTN from $25.00 to $35.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $30.70.

Institutional Trading of MNTN

Large investors have recently made changes to their positions in the company. Federated Hermes Inc. acquired a new position in MNTN during the 2nd quarter worth approximately $11,482,000. G2 Investment Partners Management LLC purchased a new stake in MNTN during the second quarter worth approximately $6,996,000. Bank of Montreal Can acquired a new position in MNTN in the second quarter valued at approximately $4,432,000. Balyasny Asset Management L.P. acquired a new stake in MNTN during the second quarter worth approximately $3,442,000. Finally, Liontrust Investment Partners LLP purchased a new position in shares of MNTN in the 2nd quarter valued at $3,170,000. 72.90% of the stock is currently owned by hedge funds and other institutional investors.

MNTN Stock Performance

The stock's 50-day simple moving average is $18.97.

MNTN (NYSE:MNTN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.02). The firm had revenue of $68.46 million during the quarter, compared to analyst estimates of $64.54 million. The firm's quarterly revenue was up 25.0% compared to the same quarter last year. MNTN has set its Q3 2025 guidance at EPS.

MNTN Company Profile

MNTN is on a mission to transform Connected TV (“CTV”) into a next-generation performance marketing channel. Our revolutionary Performance TV (“PTV”) software platform allows marketers to combine the powerful storytelling format of TV advertising with the targeting, measurement and attribution capabilities of paid search and social advertising.

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