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MNTN Inc. (NYSE:MNTN) is one of the best beaten-down technology stocks to buy according to hedge funds. On December 4, analysts at Canaccord Genuity reiterated a Buy rating and a $20 price target on MNTN Inc. (NYSE:MNTN).
According to the research firm, MNTN boasts of a strong position in the growing connected TV CTV advertising market. The company’s outlook remains strong, as the connected TV market is increasingly replacing traditional television.
Cannaccord Genuity expects CTV to account for just fewer than 10% of total US media spend while representing 20% of consumption next year. The fact that MNTN specializes in performance-oriented CTV campaigns while leveraging AI-driven creative tools positions it to take advantage of emerging opportunities. It is increasingly serving small and medium-sized businesses by enabling them to run measurable television advertising campaigns.
The research firm expects the company to benefit from industry trends and gain market share by addressing specific market needs. The company has already integrated with the marketing measurement platform Northbeam, which allows marketers to track how TV campaigns perform.
MNTN Inc. (NYSE:MNTN) is a software company that specializes in “Performance TV,” making Connected TV (CTV) advertising as easy and measurable as search and social media. Its self-serve platform helps brands use streaming TV ads to drive tangible results, such as website visits and sales, with features including smart audience targeting, real-time optimization, and conversion tracking.
While we acknowledge the potential of MNTN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.