MNTN (NYSE:MNTN) Trading 8.4% Higher - Here's Why

Key Points

• MNTN Inc. shares rose by 8.4% to $21.67, with a notable decrease in trading volume, down 68% compared to the average.
• Analysts have given MNTN a consensus "Buy" rating with a target price averaging around $30.70, with some estimates as high as $39.00.
• In its most recent earnings report, MNTN missed EPS estimates but reported a 25% increase in revenue year-over-year, totaling $68.46 million.

MNTN Inc. (NYSE:MNTN - Get Free Report) rose 8.4% during mid-day trading on Wednesday . The stock traded as high as $21.58 and last traded at $21.67. Approximately 242,404 shares were traded during trading, a decline of 68% from the average daily volume of 756,362 shares. The stock had previously closed at $19.98.

Wall Street Analyst Weigh In

MNTN has been the subject of several analyst reports. Needham & Company LLC increased their price target on shares of MNTN from $25.00 to $35.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Evercore ISI increased their price target on shares of MNTN from $27.00 to $39.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. JMP Securities upped their target price 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. Citizens Jmp assumed coverage on shares of MNTN in a research report on Monday, June 16th. They set a "strong-buy" rating and a $23.00 target price on the stock. Finally, Morgan Stanley upped their target price on shares of MNTN from $20.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $30.70.

MNTN Trading Up 0.1%

The firm's 50-day moving average is $23.84.

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

Institutional Trading of MNTN

A number of hedge funds have recently bought and sold shares of the company. Liontrust Investment Partners LLP acquired a new stake in MNTN during the second quarter worth approximately $3,170,000. State of Tennessee Department of Treasury acquired a new stake in MNTN during the second quarter worth approximately $223,000. Oxford Asset Management LLP acquired a new stake in MNTN during the second quarter worth approximately $487,000. LMR Partners LLP acquired a new stake in MNTN during the second quarter worth approximately $1,642,000. Finally, Fortress Investment Group LLC acquired a new stake in MNTN during the second quarter worth approximately $2,420,000. Institutional investors and hedge funds own 72.90% of the company's stock.

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.