MNTN stock rating reiterated by JMP, citing first-mover advantage in CTV

Investing.com - JMP Securities has reiterated its Market Outperform rating and $33.00 price target on MNTN Inc (OTC:MNTN) following meetings with the company’s CFO Patrick Pohlen. The target represents a 65% upside from current levels, aligning with the broader analyst consensus that remains bullish with price targets ranging from $25 to $39.

The investment firm expressed increased confidence that MNTN is accelerating its first-mover advantage in bringing performance marketing capabilities to connected TV (CTV) advertising.

JMP highlighted that 97% of MNTN advertisers had never advertised on television before, indicating the company is successfully enabling small businesses to extend performance marketing to CTV through self-service channels.

The firm noted MNTN’s ability to generate ad creative and provide performance tools that create fast return on media investments as key competitive advantages.

With minimum advertising buys as low as $500 per month, JMP expects MNTN’s advertiser count to continue growing faster than its platform transaction volume (PTV) growth.

In other recent news, MNTN Inc reported strong second-quarter earnings with revenue reaching $68 million, marking a 25% year-over-year growth and 35% organic growth. This performance exceeded Evercore ISI and Street estimates by 6%, with EBITDA hitting $14.5 million at a 21% margin, surpassing expectations by 67% to 75%. In response to these results, Evercore ISI raised its price target for MNTN to $39, maintaining an Outperform rating. Meanwhile, Tigress Financial Partners upgraded MNTN to a Strong Buy, highlighting the company’s growth in the connected TV market and its strategic AI innovations. Citizens JMP also increased its price target to $33, citing MNTN’s unique positioning in performance-based TV advertising for small and medium-sized businesses. Additionally, JMP Securities reiterated its Market Outperform rating, noting efficiency gains during Amazon Prime Day. MNTN has also announced a new integration with CallRail, allowing advertisers to attribute calls and texts directly to their CTV ad campaigns, enhancing measurement accuracy. These developments underscore the company’s expanding influence and innovation in the advertising technology sector.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.