Millennial Media Downgraded to “Equal Weight” at First Analysis (MM)
MM has been the subject of a number of other recent research reports. Analysts at Evercore Partners cut their price target on shares of Millennial Media from $5.00 to $3.50 in a research note on Tuesday. Separately, analysts at Canaccord Genuity cut their price target on shares of Millennial Media from $4.00 to $3.50 in a research note on Tuesday. They now have a “hold” rating on the stock. Finally, 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $6.38.
Millennial Media (NYSE:MM) traded down 15.08% on Tuesday, hitting $2.505. 7,915,723 shares of the company’s stock traded hands. Millennial Media has a one year low of $2.90 and a one year high of $9.38. The stock’s 50-day moving average is $3.83 and its 200-day moving average is $5.39. The company’s market cap is $268.0 million.
Millennial Media (NYSE:MM) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.06) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.12) by $0.06. The company had revenue of $67.30 million for the quarter, compared to the consensus estimate of $73.20 million. During the same quarter last year, the company posted $0.02 earnings per share. Millennial Media’s revenue was up 18.1% compared to the same quarter last year. On average, analysts predict that Millennial Media will post $-0.35 earnings per share for the current fiscal year.
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.
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