Evercore ISI cuts MNTN stock rating on revenue miss, management changes

Evercore ISI has lowered its rating on MNTN Inc. stock, citing a revenue shortfall in the third quarter and recent management changes. The investment firm revised its rating on the company's stock to "In Line" from "Outperform" and reduced its price target to $7 from $22. Despite reporting third-quarter revenue of $80.3 million, which is a 15% increase year-over-year, MNTN missed Wall Street estimates by 8%.

The company has also revised its fiscal 2026 revenue guidance to $311 million to $314 million and adjusted EBITDA to $66 million to $68 million, down from previous estimates. Management attributed the revenue miss to unforeseen execution issues within the go-to-market organization. The board has since replaced the CEO, COO, and CRO.

Investors can access additional ProTips and analysis through Evercore ISI's Pro Research Report. The stock currently trades at $10.37, above the new target price.