Tigress Financial Lowers MNTN (NYSE:MNTN) Price Target to $22.00

Key Points

• Tigress Financial lowered MNTN’s price target from $26 to $22 while maintaining a “strong-buy” rating, implying about 81% upside from the previous close.
• Analyst sentiment remains positive overall, with MNTN holding a consensus “Moderate Buy” rating and an average price target of $18.75.
• MNTN shares traded at $12.15, compared with a 52-week range of $7.67 to $23.25; institutional investors and hedge funds own approximately 72.9% of the company.

MNTN (NYSE:MNTN - Get Free Report) had its price objective dropped by investment analysts at Tigress Financial from $26.00 to $22.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "strong-buy" rating on the stock. Tigress Financial's price target would indicate a potential upside of 81.07% from the stock's previous close.

Several other equities analysts also recently weighed in on the company. Raymond James Financial restated an "outperform" rating and issued a $15.00 target price on shares of MNTN in a research report on Wednesday, May 6th. Evercore set a $22.00 price objective on MNTN in a research note on Wednesday, August 5th. Wall Street Zen lowered MNTN from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 8th. Weiss Ratings raised shares of MNTN from a "sell (e+)" rating to a "sell (d)" rating in a research note on Thursday, May 28th. Finally, Citizens Jmp dropped their target price on shares of MNTN from $23.00 to $19.00 and set a "market outperform" rating for the company in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $18.75.

MNTN Price Performance

MNTN stock traded up $0.20 during trading on Thursday, hitting $12.15. The stock had a trading volume of 820,191 shares, compared to its average volume of 974,940. MNTN has a twelve month low of $7.67 and a twelve month high of $23.25. The stock has a market capitalization of $751.96 million, a P/E ratio of 17.10 and a beta of 0.71. The company's 50-day moving average price is $9.62 and its two-hundred day moving average price is $9.45.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new stake in shares of MNTN during the 4th quarter worth about $43,000. Los Angeles Capital Management LLC purchased a new position in MNTN during the fourth quarter worth about $53,000. JPMorgan Chase & Co. acquired a new stake in shares of MNTN during the third quarter valued at about $86,000. Cary Street Partners Financial LLC raised its stake in shares of MNTN by 29.5% in the 4th quarter. Cary Street Partners Financial LLC now owns 20,385 shares of the company's stock valued at $243,000 after acquiring an additional 4,640 shares during the period. Finally, Royal Bank of Canada raised its stake in shares of MNTN by 2,093.6% in the 4th quarter. Royal Bank of Canada now owns 5,857 shares of the company's stock valued at $70,000 after acquiring an additional 5,590 shares during the period. Institutional investors and hedge funds own 72.90% of the company's stock.

About MNTN

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source