UPDATE: Barclays Downgrades LinkedIn (LNKD) to Equalweight; Stock Price and Estimates Too High
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Price: $173.87 -1.4%
Rating Summary:
19 Buy, 14 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 16 | New: 13
Rating Summary:
19 Buy, 14 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 16 | New: 13
Trade LNKD Now!
(Updated - January 2, 2013 2:34 PM EST)
Despite a broader market that is up nearly 2 percent on the back of the fiscal cliff deal, shares of high-flyer LinkedIn (NYSE: LNKD) are down 3.4 percent on the back of a downgrade a Barclays.
Barclays analyst Mark May downgraded the social media company from Overweight to Equalweight on valuation.
While the firm is positive on both the short-term and long-term outlook, with shares at a premium to peers and near their $125 price target they believe their bullish outlook is largely factored in.
In addition, given management's history of conservatism and the fact that consensus expectations have risen throughout 2012 and the consensus 2013 revenue estimate is now 8% above their estimates, the analyst believe initial CY13 guidance could come in slightly below consensus.
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 $114.82 yesterday, with a 52 week range of $61.28-$125.50.
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Despite a broader market that is up nearly 2 percent on the back of the fiscal cliff deal, shares of high-flyer LinkedIn (NYSE: LNKD) are down 3.4 percent on the back of a downgrade a Barclays.
Barclays analyst Mark May downgraded the social media company from Overweight to Equalweight on valuation.
While the firm is positive on both the short-term and long-term outlook, with shares at a premium to peers and near their $125 price target they believe their bullish outlook is largely factored in.
In addition, given management's history of conservatism and the fact that consensus expectations have risen throughout 2012 and the consensus 2013 revenue estimate is now 8% above their estimates, the analyst believe initial CY13 guidance could come in slightly below consensus.
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 $114.82 yesterday, with a 52 week range of $61.28-$125.50.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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