LinkedIn (LNKD) PT Cut to $245 at Cantor Fitzgerald; 'Buy' Maintained
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Rating Summary:
10 Buy, 30 Hold, 0 Sell
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Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
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Cantor Fitzgerald analyst Youssef Squali lowered his price target on LinkedIn (NYSE: LNKD) to $245.00 (from $180.00) following soft guidance after the close. However the firm is maintaining its Buy rating.
Squali commented, "LinkedIn met consensus estimates for 1Q:15 with solid underlying user metrics, but guidance disappointed as a result of 1) sales force account transitions in Talent Solutions, which is causing some revenue disruption short term, but should be positive for the business long term; 2) greater-than-expected drop in display advertising in Marketing Solutions mainly in Europe, and 3) worsening F/X impact. We're maintaining our BUY and lowering our estimates/PT to $245 from $280 to reflect the soft guidance, but remain bullish on the LT prospects of LinkedIn, given its unique franchise, large TAM, and attractive LT value."
For an analyst ratings summary and ratings history on LinkedIn click here. For more ratings news on LinkedIn click here.
Shares of LinkedIn closed at $252.13 yesterday.
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