By midmorning, the stock had declined 13.1% to $6.26. Trading volume of 3.1 million was higher than its three-month daily average of 1.9 million.
After the bell Wednesday, management guided sales of $72 million to $76 million for the three months to March. Analysts polled by Thomson Reuters had expected $83 million in revenue.
Also See: Millennial Media Reports Fourth Quarter
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TheStreet Ratings team rates MILLENNIAL MEDIA INC as a Sell with a ratings score of D+. The team has this to say about their recommendation:
"We rate MILLENNIAL MEDIA INC (MM) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself."
- You can view the full analysis from the report here: MM Ratings Report