Barclays Q1 Review of Millennial Media (MM); Two for Two
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Price: $1.75 --0%
Rating Summary:
3 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 8 | New: 1
Rating Summary:
3 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 8 | New: 1
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Barclays maintains an 'Equalweight' on Millennial Media (NYSE: MM) price target of $17.00.
Analyst, Mark May, said, "MM reported 1Q12 results-its first as a public company- and provided CY12 guidance, and both topped our expectations. Excluding one significant outlier, we note that 1Q12 results topped consensus expectations as well. While our estimates increase modestly given the better-than-expected 1Q12 results and CY12 guide, we are maintaining our rating and price target as we see the valuation as already reflecting our bullish view on the company's growth outlook."
May notes that international revenue is increasing from 6% to 12% and sees Millennial Media's Q2 guidance in-line with Barclays estimates. May is bullish on the mobile ad sector and on MM, but remain EW as shares already reflect a positive view. May raises FY12 loss from -0.09 to -0.08, maintains FY13 at $2.61.
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 $15.45 yesterday.
Analyst, Mark May, said, "MM reported 1Q12 results-its first as a public company- and provided CY12 guidance, and both topped our expectations. Excluding one significant outlier, we note that 1Q12 results topped consensus expectations as well. While our estimates increase modestly given the better-than-expected 1Q12 results and CY12 guide, we are maintaining our rating and price target as we see the valuation as already reflecting our bullish view on the company's growth outlook."
May notes that international revenue is increasing from 6% to 12% and sees Millennial Media's Q2 guidance in-line with Barclays estimates. May is bullish on the mobile ad sector and on MM, but remain EW as shares already reflect a positive view. May raises FY12 loss from -0.09 to -0.08, maintains FY13 at $2.61.
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 $15.45 yesterday.
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