U.S. stocks edge higher; solid earnings season continues
Investing.com - JMP Securities has reiterated its Market Outperform rating and $30.00 price target on MNTN Inc (OTC:MNTN) following the company’s recent performance during Amazon (NASDAQ:AMZN) Prime Day. The target represents modest upside from the current price of $29.53, though InvestingPro analysis suggests the stock may be overvalued at these levels.
The advertising technology company reported significant efficiency improvements during the shopping event, according to a blog post highlighted in JMP’s analysis.
MNTN’s average revenue per advertiser grew 20% year-over-year during the Prime Day period, demonstrating strengthened monetization capabilities.
Return on advertising spend (ROAS) also showed improvement, increasing 10% compared to the same period last year.
JMP Securities maintained its positive outlook on the stock based on these performance metrics, keeping its price target unchanged at $30.00 per share.
In other recent news, MNTN Inc is preparing to report its first earnings as a public company, with expectations from JMP Securities that results will surpass both their own and consensus projections. JMP Securities has also raised its price target for MNTN to $30, emphasizing growth in small and medium-sized business advertising. Meanwhile, Citizens JMP reiterated a Market Outperform rating for MNTN, maintaining a price target of $30 after the company reported advertising efficiency gains during Amazon Prime Day. Tigress Financial Partners initiated coverage with a buy rating and a $28 price target, citing MNTN’s strong position in the Connected TV advertising market and its innovative methods. Raymond (NSE:RYMD) James also initiated coverage, offering an outperform rating and a $27 price target, highlighting the company’s focus on small and medium-sized businesses within connected television. Susquehanna joined in with a positive rating and a $38 price target, noting MNTN’s leadership in performance marketing for connected TV. These developments underscore the company’s strategic positioning in the growing digital advertising landscape.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.