Canaccord Genuity Increases LinkedIn Corp. Price Target to $270.00 (LNKD)
Equities researchers at Canaccord Genuity boosted their target price on shares of LinkedIn Corp. (NASDAQ:LNKD) to $270.00 in a research report issued on Wednesday, American Banking & Market News reports. Canaccord Genuity’s price target would indicate a potential upside of 9.25% from the stock’s previous close.
LinkedIn Corp. (NASDAQ:LNKD) opened at 247.14 on Wednesday. LinkedIn Corp. has a 1-year low of $94.75 and a 1-year high of $257.56. The stock’s 50-day moving average is $234.6 and its 200-day moving average is $193.3. The company has a market cap of $27.704 billion and a price-to-earnings ratio of 939.70. LinkedIn Corp. also was the target of unusually large options trading activity on Tuesday. Stock investors bought 42,931 call options on the company. This represents an increase of 176% compared to the typical daily volume of 15,576 call options.
LinkedIn Corp. (NASDAQ:LNKD) last announced its earnings results on Tuesday, October 29th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.07. The company had revenue of $393.00 million for the quarter, compared to the consensus estimate of $385.57 million. During the same quarter last year, the company posted $0.22 earnings per share. LinkedIn Corp.’s revenue was up 56.0% compared to the same quarter last year. Analysts expect that LinkedIn Corp. will post $1.54 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at SunTrust reiterated a “neutral” rating on shares of LinkedIn Corp. in a research note to investors on Wednesday. They now have a $250.00 price target on the stock. Separately, analysts at RBC Capital raised their price target on shares of LinkedIn Corp. from $210.00 to $240.00 in a research note to investors on Wednesday. They now have a “sector perform” rating on the stock. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of LinkedIn Corp. in a research note to investors on Wednesday. They now have a $280.00 price target on the stock, up previously from $255.00. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $237.19.
In other LinkedIn Corp. news, VP Erika Rottenberg sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $241.19, for a total transaction of $964,760.00. The sale was disclosed in a filing with the SEC, which is available at this link.
LinkedIn Corporation (NASDAQ:LNKD) is a professional network on the Internet with more than 238 million members in over 200 countries and territories.
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