Millennial Media Upgraded to Neutral by Zacks (MM)
Millennial Media (NYSE:MM) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a report issued on Tuesday. The firm currently has a $4.30 price objective on the stock. Zacks‘s price objective would indicate a potential upside of 2.14% from the company’s current price.
Shares of Millennial Media (NYSE:MM) traded down 6.89% on Tuesday, hitting $3.92. 1,952,066 shares of the company’s stock traded hands. Millennial Media has a one year low of $2.90 and a one year high of $10.48. The stock has a 50-day moving average of $4.26 and a 200-day moving average of $6.04. The company’s market cap is $419.4 million.
Millennial Media (NYSE:MM) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.06. The company had revenue of $72.60 million for the quarter, compared to the consensus estimate of $75.52 million. During the same quarter in the previous year, the company posted ($0.01) earnings per share. The company’s revenue for the quarter was up 47.0% on a year-over-year basis. On average, analysts predict that Millennial Media will post $-0.36 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Citigroup Inc. downgraded shares of Millennial Media from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 2nd. Separately, analysts at Evercore Partners downgraded shares of Millennial Media from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 2nd. They now have a $5.00 price target on the stock. Finally, analysts at Piper Jaffray upgraded shares of Millennial Media from an “underweight” rating to a “neutral” rating in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $6.53.
Millennial Media, Inc is an independent mobile advertising platform company. The Company’s technology, tools and services help developers maximize their advertising revenue, acquire users for their applications and gain insight about their users.
To view Zacks’ full report, visit Zacks’ official website.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.