LinkedIn (LNKD) Stock Price Target Raised at Barclays
NEW YORK (TheStreet) -- Barclays raised its price target on LinkedIn (LNKD) to $265 from $250 on Monday. The firm maintained its "overweight" rating on the stock.
Last week, the Mountain View, CA-based online networking site reported 2015 third quarter earnings of 78 cents per share on revenue of $780 million. Analysts were expecting the company to report earnings of 46 cents per share on revenue of $756 million.
LinkedIn's core Talent Solutions segment grew 34% in the third quarter, which was better than Barclays analysts had expected.
"We had highlighted LinkedIn as the one name in our coverage universe that has had some controversy heading into the print but where we saw real upside in the platform and the stock," Barclays said. "This quarter gives us confidence going forward."
Barclays analysts increased their 2015 calendar year earnings estimates for LinkedIn to $2.75 per share from $2.21 per share.
Shares of LinkedIn were up by 0.54% to $242.17 in mid-morning trading on Monday.
Separately, TheStreet Ratings team rates LINKEDIN CORP as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
We rate LINKEDIN CORP (LNKD) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and feeble growth in the company's earnings per share.
You can view the full analysis from the report here: LNKD
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