Millennial Media (MM) is the Best Way to Play Mobile Shift - Oppenheimer

August 9, 2012 10:23 AM EDT Send to a Friend
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Price: $1.93 +0.52%

Rating Summary:
    5 Buy, 8 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 24 | Down: 28 | New: 14
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Today Oppenheimer analysts reiterated their Outperform rating on Millennial Media (NYSE: MM) and price target of $17.00.

"2Q revenues increased 76% y/y, a nice acceleration from 53% in 1Q, with q/q growth of 20%. As uniques and apps both increased 17% q/q, this suggests higher pricing q/q, which mgmt also reiterated," noted analysts Jason Helfstein and Jed Kelly.

Revenue from existing clients increased 118%, suggesting that competition is not having an impact.

Millennial Media is the largest independent mobile display advertising network and supports advertising in 30,000 mobile apps. As the proliferation of smart devices continues and data speeds increase with greater 4G penetration, advertising impressions delivered and pricing will increase.

In short, MM shares as the best way to play mobile shift, think analysts.

For an analyst ratings summary and ratings history on Millennial Media click here. For more ratings news on Millennial Media click here.

Shares of Millennial Media closed at $10.19 yesterday.


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