Goldman Sachs Trims LinkedIn (LNKD) Price Target, Says Guidance Likely Conservative

May 3, 2013 9:49 AM EDT
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Price: $195.96 --0%

Rating Summary:
    16 Buy, 34 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Goldman Sachs today maintained a Buy rating on LinkedIn (NYSE: LNKD) and lowered its price target to $210.00 (from $220.00). The move follows LinkedIn Q1 results yesterday. While Q1 looked solid, Q2 guidance was below consensus, and the stock traded lower. Analyst Heath P. Terry said the company's guidance was likely conservative.

"While the quarter lacked the significant outperformance of 4Q, all three segments of LinkedIn's business continued to deliver high levels of growth, we believe the long term trajectory of existing businesses and the opportunity represented by emerging businesses like Sales Navigator and various marketing initiatives is largely unchanged," said Terry.

"We continue to believe that LinkedIn represents one of the best secular growth stories in Internet."

For an analyst ratings summary and ratings history on LinkedIn (NYSE: LNKD) click here. For more ratings news on LinkedIn click here.

Shares of LinkedIn closed at $201.67 yesterday.

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