MNTN (NYSE:MNTN) Upgraded at Citigroup

Key Points

• MNTN was upgraded by Citigroup from a "neutral" to a "buy" rating, with a revised target price of $22.00, indicating a potential upside of 37.56% from the previous close.
• The company's quarterly earnings report showed a revenue of $68.46 million, a 25% increase compared to the previous year, despite missing EPS estimates.
• Currently, institutional investors own 72.90% of MNTN's stock, reflecting strong interest from large investors in the company's potential.

MNTN (NYSE:MNTN - Get Free Report) was upgraded by equities researchers at Citigroup from a "neutral" rating to a "buy" rating in a research note issued to investors on Friday,Benzinga reports. The firm presently has a $22.00 target price on the stock, down from their previous target price of $33.00. Citigroup's target price indicates a potential upside of 37.56% from the stock's previous close.

Other equities research analysts have also issued reports about the company. Weiss Ratings reissued a "sell (d)" rating on shares of MNTN in a research report on Wednesday, October 8th. Needham & Company LLC upped their price target on MNTN from $25.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Morgan Stanley upped their price target on MNTN from $20.00 to $25.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Tigress Financial raised MNTN from a "buy" rating to a "strong-buy" rating and upped their price target for the company from $28.00 to $36.00 in a research report on Monday, August 11th. Finally, Evercore ISI upped their price objective on MNTN from $27.00 to $39.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $30.70.

MNTN Trading Up 2.2%

Shares of MNTN opened at $15.99 on Friday. MNTN has a 52-week low of $14.71 and a 52-week high of $32.49. The firm has a 50 day simple moving average of $18.97.

MNTN (NYSE:MNTN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.02). The company had revenue of $68.46 million during 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 Inflows and Outflows

A number of large investors have recently modified their holdings of the business. KLP Kapitalforvaltning AS acquired a new position in shares of MNTN during the third quarter valued at $54,000. Zazove Associates LLC acquired a new position in shares of MNTN during the third quarter valued at $928,000. Liontrust Investment Partners LLP acquired a new position in shares of MNTN during the second quarter valued at $3,170,000. State of Tennessee Department of Treasury acquired a new position in shares of MNTN during the second quarter valued at $223,000. Finally, Oxford Asset Management LLP acquired a new position in shares of MNTN during the second quarter valued at $487,000. 72.90% of the stock is owned by institutional investors and hedge funds.

About MNTN

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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