Analyst Matthew Cost from Morgan Stanley maintained a Hold rating on MNTN, Inc Class A and decreased the price target to $22.50 from $25.00.
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Matthew Cost has given his Hold rating due to a combination of factors that reflect both positive developments and areas of uncertainty for MNTN, Inc. The company reported strong third-quarter results, with revenue growth and EBITDA surpassing expectations, largely driven by the increased adoption of its Performance TV platform and the launch of innovative tools like QuickFrame AI. These advancements have contributed to improved operating leverage and record EBITDA margins.
Despite these positive indicators, Cost maintains a cautious outlook due to the lack of significant acceleration in customer growth, particularly among small and medium-sized businesses. While MNTN’s self-serve ad tools have reduced costs and improved efficiency, the anticipated inflection in customer acquisition has yet to materialize. Consequently, the price target has been adjusted to $22.50, reflecting a conservative valuation based on future EBITDA projections.
In another report released on October 29, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $15.50 price target.