MNTN (NYSE:MNTN) Trading Up 12.5% – Still a Buy?

MNTN Inc. (NYSE:MNTN)’s share price was up 12.5% during trading on Monday . The company traded as high as $10.65 and last traded at $10.6060. Approximately 1,560,585 shares were traded during mid-day trading, an increase of 92% from the average daily volume of 811,550 shares. The stock had previously closed at $9.43.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on MNTN shares. Citigroup decreased their price target on MNTN from $22.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Raymond James Financial restated an “outperform” rating and issued a $15.00 price objective on shares of MNTN in a research note on Wednesday, May 6th. Citizens Jmp reduced their price objective on MNTN from $23.00 to $19.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 6th. Wall Street Zen upgraded MNTN from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 14th. Finally, Evercore set a $27.00 price objective on MNTN in a research note on Wednesday, February 11th. Ten analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, MNTN has an average rating of “Moderate Buy” and a consensus target price of $20.68.

MNTN Price Performance

The firm has a fifty day simple moving average of $9.01 and a 200 day simple moving average of $10.51. The company has a market capitalization of $647.56 million and a price-to-earnings ratio of -351.67.

MNTN (NYSE:MNTN) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.01). MNTN had a net margin of 7.84% and a return on equity of 16.44%. The business had revenue of $73.70 million during the quarter, compared to analyst estimates of $72.63 million. During the same period in the previous year, the business posted ($1.41) earnings per share. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. Research analysts predict that MNTN Inc. will post 0.99 EPS for the current year.

Institutional Trading of MNTN

Several institutional investors have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd acquired a new stake in MNTN in the fourth quarter valued at approximately $43,000. Los Angeles Capital Management LLC acquired a new stake in MNTN in the fourth quarter valued at approximately $53,000. JPMorgan Chase & Co. acquired a new stake in MNTN in the third quarter valued at approximately $86,000. Cary Street Partners Financial LLC grew its holdings in MNTN by 29.5% in the fourth quarter. Cary Street Partners Financial LLC now owns 20,385 shares of the company’s stock valued at $243,000 after purchasing an additional 4,640 shares during the period. Finally, Royal Bank of Canada grew its holdings in MNTN by 2,093.6% in the fourth quarter. Royal Bank of Canada now owns 5,857 shares of the company’s stock valued at $70,000 after purchasing an additional 5,590 shares during the period. 72.90% of the stock is owned by institutional investors and hedge funds.

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.