NEW YORK (TheStreet) -- Shares of LinkedIn Corp (LNKD) continue to slip, down 1.81% to $201.50 on heavy volume in midday trading Monday following the professional networking site's weak second quarter and full year outlook, issued last Thursday.
For the second quarter, the company sees earnings of 28 cents per share on revenue of between $670 million and $675 million. Analysts are expecting earnings of 74 cents per share on revenue of $717.5 million.
For the full year, LinkedIn forecasts earnings of $1.90 per share on revenue of $2.9 billion. The consensus estimate calls for earnings of $3.03 on revenue of $2.97 billion, according to Thomson Reuters.
However, analysts at Argus upgraded their rating on LinkedIn this morning to a "buy" from "hold" on a valution call.
The firm set a price target of $280 on shares, citing the sell-off following its first quarter results and guidance.
Argus believes the company's business model is resilient and that recent issues are only temporary.
As of 12:18 p.m. ET, about 3.34 million shares of LinkedIn exchanged hands as compared to its average daily volume of 1.82 million shares.
LinkedIn helps manage professional identity, ability to build and engage with professional networks, access to knowledge, insights and opportunities and ubiquitous access. The company is based in Mountain View, Calif.
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, solid stock price performance 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."