Citigroup Lowers MNTN (NYSE:MNTN) Price Target to $17.00

MNTN (NYSE:MNTN) had its price target lowered by stock analysts at Citigroup from $22.00 to $17.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 58.88% from the company’s previous close.

A number of other equities analysts have also weighed in on MNTN. Wall Street Zen upgraded shares of MNTN from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Evercore dropped their price target on shares of MNTN from $39.00 to $33.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. Needham & Company LLC cut their price target on shares of MNTN from $35.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Susquehanna lowered their price objective on MNTN from $38.00 to $20.00 and set a “positive” rating on the stock in a report on Wednesday. Finally, JMP Securities set a $23.00 target price on MNTN in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, MNTN presently has a consensus rating of “Moderate Buy” and an average price target of $24.15.

MNTN Trading Down 4.0%

Shares of MNTN stock traded down $0.45 during trading on Thursday, reaching $10.70. The company’s stock had a trading volume of 2,241,705 shares, compared to its average volume of 994,176. The company has a 50-day moving average price of $11.15 and a two-hundred day moving average price of $16.03. MNTN has a fifty-two week low of $7.71 and a fifty-two week high of $32.49. The firm has a market cap of $473.26 million and a PE ratio of -6.89.

MNTN (NYSE:MNTN) last posted its quarterly earnings data on Tuesday, February 10th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.17. The company had revenue of $87.10 million for the quarter, compared to analyst estimates of $86.18 million. MNTN had a negative net margin of 2.22% and a positive return on equity of 12.69%. MNTN’s quarterly revenue was up 24.8% on a year-over-year basis.

Insider Transactions at MNTN

In other news, Director Hadi Partovi sold 192,598 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $13.46, for a total value of $2,592,369.08. Following the completion of the transaction, the director directly owned 254,922 shares of the company’s stock, valued at $3,431,250.12. The trade was a 43.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have sold a total of 447,520 shares of company stock worth $6,005,775 in the last ninety days. Insiders own 60.30% of the company’s stock.

Hedge Funds Weigh In On MNTN

Institutional investors have recently modified their holdings of the company. Liontrust Investment Partners LLP purchased a new stake in shares of MNTN in the second quarter valued at $3,170,000. Federated Hermes Inc. boosted its stake in MNTN by 23.8% in the 3rd quarter. Federated Hermes Inc. now owns 650,000 shares of the company’s stock worth $12,058,000 after buying an additional 125,000 shares during the last quarter. TD Asset Management Inc purchased a new stake in MNTN in the 2nd quarter valued at about $731,000. Bank of Montreal Can acquired a new position in shares of MNTN during the 2nd quarter valued at about $4,432,000. Finally, G2 Investment Partners Management LLC purchased a new position in shares of MNTN during the 2nd quarter worth about $6,996,000. Institutional investors and hedge funds 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.