Millennial Media (MM -4.8%) makes fresh post-IPO lows after Needham launches coverage with a...
Tuesday, March 5, 1:02 PM ETMillennial Media (MM -4.8%) makes fresh post-IPO lows after Needham launches coverage with a Hold. While expecting Millennial to "continue to experience exceptionally strong growth over the next few years," the firm sees "emerging competition" limiting upside to current estimates. The report comes as one of those emerging rivals, Amazon (AMZN), rolls out a mobile ad API for Android apps offered in its Appstore. Amazon is already selling Kindle lock screen ads, and has reportedly considered making a mobile ad acquisition.
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