NEW YORK (TheStreet) -- BMO Capital Markets raised its price target on LinkedIn Corp. (LNKD) to $260 from $250 on a higher target multiple based upon "greater clarity on the Sales Navigator's ramp," analysts said.
Last week BMO Capital hosted LinkedIn management for meetings in London which featured demos of Sales Navigator, a "social selling" tool that leverages LinkedIn's network to generate sales leads, analysts said.
The online professional network addressed investor concerns about the new tool by "ensuring the user experience is not denigrated by over-solicitous behavior, continuing strong partnerships with salesforce.com (CRM) and Microsoft Corp. (MSFT) , and reiterating that Sales Navigator's top-end price point ($100/month) falls within the typical $25-$100/month range of software products offered to sales-people," analysts added.
Shares of LinkedIn are down 1.38% to $223.14.
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 and disappointing return on equity."