Hold Rating on MNTN, Inc: Fair Valuation Amid Promising Growth Prospects

MNTN, Inc Class A (MNTN) has received a new Hold rating, initiated by Morgan Stanley analyst, Matthew Cost.

Matthew Cost’s rating is based on the current valuation of MNTN, Inc Class A, which he considers to be fairly priced at 17 times EBITDA. While the company shows promising growth prospects, including a projected 19% revenue CAGR from 2024 to 2028, the current stock price reflects these expectations, leading to a Hold rating.
MNTN’s platform, which facilitates advertising on connected TV for small and medium-sized businesses, is expected to expand its customer base significantly. However, despite the anticipated growth in customer count and revenue, the valuation does not present an attractive entry point for investors at this time. Therefore, Matthew Cost recommends a Hold rating as he awaits a more favorable opportunity to invest.

In another report released today, Citi also initiated coverage with a Hold rating on the stock with a $22.00 price target.