Jefferies Reiterates Hold on Demand Media (DMD) Following Solid 3Q
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Jefferies reiterated a Hold rating on Demand Media (NYSE: DMD), and raised the price target to $6.50 (from $6.00), following the company's 3Q earnings report. DMD reported revenue of $28.1MM, above the consensus at $25.4MM. Operating net loss per share came in at ($0.14), better than the consensus estimates of ($0.37).
Analyst Brian Fitzgerald commented, "DMD reported solid results with a top and bottom line beat. Marketplaces continues to show robust growth with Society6 seeing increased mobile conversion and an increase in repeat customers. Content & Media has seen strong results from Livestrong with a focus on video. eHow will now focus on narrower and deeper categories utilizing historical content."
Shares of Demand Media closed at $5.80 yesterday.
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