Topeka Capital Upgrades LinkedIn (LNKD) to Buy

April 9, 2014 6:37 AM EDT
Get Alerts LNKD Hot Sheet
Price: $195.96 --0%

Rating Summary:
    16 Buy, 34 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 9 | Down: 12 | New: 44
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Topeka Capital upgraded LinkedIn (NYSE: LNKD) from Hold to Buy while maintaining their price target of $230, citing an opportunity among the carnage.

Analyst Victor Anthony comments, "We believe investor concerns regarding weaker than expected 2014 EBITDA guidance, weak 3rd party traffic data, slowing enterprise net adds, and slowing job postings growth, are priced in at current levels. The shares now offer a compelling entry point, with approximately 35% upside to our price target. Near-term, we see 1Q14 results topping consensus estimates against conservative revenue and EBITDA guidance, with a likely increase in full year guidance - Beat & Raise. Longer-term we see LinkedIn benefiting financially from investments in R&D, Sales Solutions, Sponsored content, and China. The current broader pullback in Internet stocks has impacted LinkedIn disproportionately, in our view."

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 $169.10 yesterday.

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