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

MNTN (NYSE:MNTN) had its price target lowered by Tigress Financial from $26.00 to $22.00 in a research report report published on Thursday, MarketBeat.com reports. The firm currently has a strong-buy rating on the stock.

MNTN has been the subject of several other research reports. Raymond James Financial reiterated an “outperform” rating and issued a $15.00 price objective on shares of MNTN in a research note on Wednesday, May 6th. Morgan Stanley set a $16.00 target price on MNTN in a research note on Monday, August 10th. Evercore set a $22.00 target price on MNTN in a report on Wednesday, August 5th. Weiss Ratings raised MNTN from a “sell (e+)” rating to a “sell (d)” rating in a research report on Thursday, May 28th. Finally, Wall Street Zen lowered MNTN from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.65.

MNTN Price Performance

MNTN opened at $12.55 on Thursday. MNTN has a fifty-two week low of $7.67 and a fifty-two week high of $23.25. The firm has a market capitalization of $776.66 million, a P/E ratio of 17.67 and a beta of 0.71. The company’s 50-day moving average is $9.74 and its 200 day moving average is $9.48.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MNTN. Aster Capital Management DIFC Ltd bought a new position in shares of MNTN during the 4th quarter valued at approximately $43,000. Los Angeles Capital Management LLC bought a new stake in shares of MNTN in the 4th quarter worth approximately $53,000. JPMorgan Chase & Co. bought a new stake in shares of MNTN in the 3rd quarter worth approximately $86,000. Cary Street Partners Financial LLC lifted its stake 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 last quarter. Finally, Royal Bank of Canada grew its holdings in MNTN by 2,093.6% during 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 currently owned by hedge funds and other institutional investors.

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.