MNTN (NYSE:MNTN) Trading Up 7.7% – Time to Buy?

MNTN Inc. (NYSE:MNTN) shares rose 7.7% during mid-day trading on Friday . The stock traded as high as $9.09 and last traded at $9.05. 758,897 shares were traded during trading, a decline of 12% from the average session volume of 861,430 shares. The stock had previously closed at $8.40.

Analyst Ratings Changes

MNTN has been the subject of several recent research reports. Canaccord Genuity Group dropped their price objective on MNTN from $20.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Wall Street Zen cut shares of MNTN from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 6th. Morgan Stanley cut their price objective on shares of MNTN from $20.50 to $18.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 6th. Tigress Financial reaffirmed a “strong-buy” rating and issued a $26.00 price objective on shares of MNTN in a research note on Wednesday, June 3rd. Finally, Citizens Jmp lowered 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 equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.85.

MNTN Stock Performance

The firm has a market cap of $551.62 million and a P/E ratio of -301.83. The stock’s 50-day moving average is $9.03 and its 200 day moving average is $9.87.

MNTN (NYSE:MNTN) last posted its 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). 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 firm posted ($1.41) earnings per share. The firm’s revenue was up 14.2% on a year-over-year basis. On average, research analysts anticipate that MNTN Inc. will post 0.99 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd acquired a new position in shares of MNTN in the fourth quarter valued at approximately $43,000. Los Angeles Capital Management LLC bought a new stake in MNTN in the 4th quarter valued at $53,000. Royal Bank of Canada boosted its stake in MNTN by 2,093.6% in the 4th quarter. Royal Bank of Canada now owns 5,857 shares of the company’s stock worth $70,000 after purchasing an additional 5,590 shares during the period. JPMorgan Chase & Co. acquired a new position in MNTN in the 3rd quarter worth $86,000. Finally, Barclays PLC increased its holdings in MNTN by 2,341.4% during the 4th quarter. Barclays PLC now owns 9,326 shares of the company’s stock worth $111,000 after purchasing an additional 8,944 shares in the last quarter. Institutional investors 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.