LinkedIn (LNKD) Shares Rallying as Morgan Stanley Gets More Bullish, Raises Target to $115
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Price: $195.96 --0%
Rating Summary:
10 Buy, 30 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 12 | New: 19
Rating Summary:
10 Buy, 30 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 12 | New: 19
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Morgan Stanley's Scott Devitt reiterated an Overweight rating and raised his price target on LinkedIn (Nasdaq: LNKD) shares from $105 to $115 Thursday morning.
The analyst's convicted buy call stems from strong employee management. "After analyzing LinkedIn’s sales force efficiency, we believe the company has deftly navigated a period of heavy headcount onboarding with minimal drag on productivity," Devitt said. He believes LinkedIn is bolstering its workforce in order to capture market share. Even with "periods where nearly 50% of sales heads were recent hires, LinkedIn managed to maintain revenue per average sales head at 75-80% of its peak levels," the analyst pointed out.
Traders seem to be responding to the bullish note: shares are up more than 7 percent to nearly $105 this afternoon. With the strong move higher Thursday, Devitt's new price target represents potential upside of about 9.5 percent.
For an analyst ratings summary and ratings history on LinkedIn click here. For more ratings news on LinkedIn click here.
The analyst's convicted buy call stems from strong employee management. "After analyzing LinkedIn’s sales force efficiency, we believe the company has deftly navigated a period of heavy headcount onboarding with minimal drag on productivity," Devitt said. He believes LinkedIn is bolstering its workforce in order to capture market share. Even with "periods where nearly 50% of sales heads were recent hires, LinkedIn managed to maintain revenue per average sales head at 75-80% of its peak levels," the analyst pointed out.
Traders seem to be responding to the bullish note: shares are up more than 7 percent to nearly $105 this afternoon. With the strong move higher Thursday, Devitt's new price target represents potential upside of about 9.5 percent.
For an analyst ratings summary and ratings history on LinkedIn click here. For more ratings news on LinkedIn click here.
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