MNTN (NYSE:MNTN) Trading Up 9% - Here's Why

Key Points

• MNTN shares rose about 9% to roughly $9.36 in Monday trading, although volume was 63% below the stock’s average daily level.
• Analysts remain broadly optimistic, with a consensus rating of “Moderate Buy” and an average price target of $19.85, despite several recent target reductions.
• Latest quarterly results showed revenue increasing 14.2% year over year to $73.7 million, beating estimates, while EPS of $0.11 narrowly missed the $0.12 consensus forecast. Institutional investors own approximately 72.9% of the company.

Shares of MNTN Inc. (NYSE:MNTN - Get Free Report) rose 9% during trading on Monday . The stock traded as high as $9.31 and last traded at $9.3550. 347,371 shares were traded during trading, a decline of 63% from the average session volume of 945,036 shares. The stock had previously closed at $8.58.

Analysts Set New Price Targets

A number of brokerages recently commented on MNTN. Morgan Stanley lowered their price target on shares of MNTN from $20.50 to $18.00 and set an "equal weight" rating for the company in a report on Wednesday, May 6th. Raymond James Financial reaffirmed an "outperform" rating and issued a $15.00 price objective on shares of MNTN in a research note on Wednesday, May 6th. Citizens Jmp cut their target price on MNTN from $23.00 to $19.00 and set a "market outperform" rating on the stock in a research report on Wednesday, May 6th. Tigress Financial restated a "strong-buy" rating and issued a $26.00 price target on shares of MNTN in a research report on Wednesday, June 3rd. Finally, Weiss Ratings upgraded shares of MNTN from a "sell (e+)" rating to a "sell (d)" rating in a research report on Thursday, May 28th. One equities 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 issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $19.85.

MNTN Stock Up 10.1%

The stock has a market cap of $576.48 million, a P/E ratio of -314.40 and a beta of 0.81. The business has a 50 day moving average price of $9.26 and a 200 day moving average price of $9.55.

MNTN (NYSE:MNTN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by ($0.01). The business had revenue of $73.70 million for the quarter, compared to the consensus estimate of $72.63 million. MNTN had a return on equity of 16.44% and a net margin of 7.84%.MNTN's revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the business posted ($1.41) earnings per share. On average, research analysts expect that MNTN Inc. will post 0.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MNTN. Soros Fund Management LLC purchased a new stake in MNTN in the 2nd quarter valued at about $2,187,000. Raymond James Financial Inc. bought a new stake in shares of MNTN during the second quarter valued at approximately $2,111,000. Bamco Inc. NY purchased a new stake in shares of MNTN in the second quarter valued at approximately $1,531,000. Balyasny Asset Management L.P. bought a new position in MNTN in the second quarter worth approximately $3,442,000. Finally, Boothbay Fund Management LLC bought a new stake in MNTN during the 2nd quarter valued at $2,183,000. Hedge funds and other 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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