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Investment analysts at Canaccord Genuity decreased their price objective on shares of Millennial Media (NYSE:MM) from $4.00 to $3.50 in a note issued to investors on Tuesday. The firm currently has a “hold” rating on the stock. Canaccord Genuity’s price target would suggest a potential upside of 18.64% from the company’s current price.

MM has been the subject of a number of other recent research reports. 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 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 a consensus rating of “Hold” and a consensus target price of $6.38.

Shares of Millennial Media (NYSE:MM) traded down 14.58% during mid-day trading on Tuesday, hitting $2.52. 10,524,131 shares of the company’s stock traded hands. Millennial Media has a 1-year low of $2.43 and a 1-year high of $8.44. The stock has a 50-day moving average of $3.78 and a 200-day moving average of $5.36. The company’s market cap is $269.6 million.

Millennial Media (NYSE:MM) last announced its earnings results 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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