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Millennial Media Inc. (MM) Message Board

  • speeder430 speeder430 May 8, 2013 7:21 PM Flag

    now own only one cent in AH

    looks like people have digested it.

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    • people sold at 6.9!

    • actually I bit was just me buying 8k shares late in after hours so don't count on the after hours price.

      while I am not really sure what will happen to the share price given the recent run in the stock and the below estimates guidance I think analysts will continue to support the company in their notes out early tomorrow - except for the guy from Morgan Stanley who clearly didn't buy management's comments and explanations but he already downgraded the stock following the weak Q4 report and guidance so there's not much danger from this side.
      to be honest the conference call was nothing to write home about just like the Q1 report and especially Q2 guidance. The biggest positive takeaways were the comeback of the retail business and the ongoing strong international performance in EMEA as well as in Asia.

      actually there were quite a lof of negatives on the call but nobody really seemed to care:

      - stock based compensation to move up substantially to the 5% (!!!) of revenue number for the year - obviously key executives needed some incentive to stay given the decline in the stock price
      - even more alarming they talked about equity compensation for executives who have recently LEFT the company - would have liked some analyst to step in and ask about this
      - cash is down for the quarter
      - stepping up investments
      - making big adjustments to their business strategy as strong and more innovative competition from Facebook and Google continues to take its toll on the company's revenues
      - reiterated view of no gross margin expansion and perhaps even contraction going forward
      - outright denied a possible sale of the company

      Bottom line:

      While I don't like the company as the bigger players will dominate the market going froward leaving MM behind the stock clearly looks cheap here and at least full year guidance was maintained this time. Former areas of weakness are doing better now and strategy adjustments might help the company to capture more business going forward.

1.80-0.01(-0.55%)2:29 PMEDT

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