LinkedIn Corp. Rating Increased to Outperform at BMO Capital Markets (LNKD)
LinkedIn Corp. (NYSE:LNKD) was upgraded by analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Friday, TheFlyOnTheWall.com reports. The firm currently has a $270.00 price objective on the stock, up from their previous price objective of $235.00. BMO Capital Markets’ price target would indicate a potential upside of 19.24% from the company’s current price.
The analysts wrote, “We believe there are several new stories emerging that will raise long-term growth expectations; in particular, we believe LinkedIn is preparing to formally launch in China,” Salmon noted in an equity research report. The analysts believe that the company can launch in China in 2014 while monetization opportunities will ramp in 2015. Management has discussed expanding to China in the past but the analysts noted the company retaining one of its public relations agencies for work in China. The vast size of the Chinese market coupled with a customized version of the social networking platform could “yield valuable benefits” according to Salmon. The analyst also noted that the company is working on a stand-alone product/platform for salespeople that will be released towards the end of 2014 based on the already existing size of the market that could be heavily monetized. “LinkedIn is not yet offering a total addressable market assessment for these users, but noted that there are 6x as many salespeople on LinkedIn as there are human resources professionals,”
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of LinkedIn Corp. in a research note to investors on Monday. They now have a $235.00 price target on the stock. Separately, analysts at TheStreet reiterated a “sell” rating on shares of LinkedIn Corp. in a research note to investors on Monday, November 25th. Finally, analysts at Goldman Sachs Group Inc. downgraded shares of LinkedIn Corp. from a “buy” rating to a “neutral” rating in a research note to investors on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and seventeen have given a buy rating to the stock. LinkedIn Corp. has a consensus rating of “Hold” and an average target price of $241.79.
In other LinkedIn Corp. news, Director David Sze unloaded 6,250 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $220.70, for a total transaction of $1,379,375.00. Following the transaction, the director now directly owns 173,188 shares of the company’s stock, valued at approximately $38,222,592. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Shares of LinkedIn Corp. (NYSE:LNKD) traded up 3.46% on Friday, hitting $234.2775. 2,167,561 shares of the company’s stock traded hands. LinkedIn Corp. has a 52 week low of $107.62 and a 52 week high of $257.56. The stock has a 50-day moving average of $226.4 and a 200-day moving average of $215.8. The company has a market cap of $27.974 billion and a price-to-earnings ratio of 1020.00.
LinkedIn Corp. (NYSE:LNKD) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.39 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.22 earnings per share. The company’s quarterly revenue was up 56.0% on a year-over-year basis. Analysts expect that LinkedIn Corp. will post $1.61 EPS for the current fiscal year.
LinkedIn Corporation (NYSE:LNKD) is a professional network on the Internet with more than 238 million members in over 200 countries and territories.
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