Cantor Fitzgerald Lowers LinkedIn Corp. Price Target to $240.00 (LNKD)
Equities researchers at Cantor Fitzgerald decreased their price objective on shares of LinkedIn Corp. (NYSE:LNKD) from $260.00 to $240.00 in a research report issued on Friday, Stock Ratings Network reports. Cantor Fitzgerald’s target price would suggest a potential upside of 14.51% from the company’s current price.
In other LinkedIn Corp. news, CEO Jeff Weiner sold 37,000 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $212.21, for a total transaction of $7,851,770.00. Following the transaction, the chief executive officer now directly owns 174,901 shares of the company’s stock, valued at approximately $37,115,741. The transaction was disclosed in a filing with the SEC, which is available at this link.
Several other analysts have also recently commented on the stock. Analysts at Canaccord Genuity cut their price target on shares of LinkedIn Corp. from $270.00 to $250.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at Stifel Nicolaus cut their price target on shares of LinkedIn Corp. from $300.00 to $285.00 in a research note to investors on Friday. Finally, analysts at SunTrust upgraded shares of LinkedIn Corp. from a “neutral” rating to a “buy” rating in a research note to investors on Friday. They now have a $260.00 price target on the stock, up previously from $250.00. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $241.24.
LinkedIn Corp. (NYSE:LNKD) traded down 6.20% on Friday, hitting $209.59. The stock had a trading volume of 11,203,267 shares. LinkedIn Corp. has a 52-week low of $149.00 and a 52-week high of $257.56. The stock has a 50-day moving average of $215.0 and a 200-day moving average of $227.7. The company has a market cap of $25.026 billion and a P/E ratio of 1006.53.
LinkedIn Corp. (NYSE:LNKD) last released its earnings data on Thursday, February 6th. The company reported $0.39 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.38 by $0.01. The company had revenue of $447.20 million for the quarter, compared to the consensus estimate of $437.92 million. During the same quarter last year, the company posted $0.35 earnings per share. LinkedIn Corp.’s revenue was up 47.3% compared to the same quarter last year. On average, analysts predict that LinkedIn Corp. will post $2.18 earnings per share 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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