LinkedIn (LNKD) PT Raised to $180 at Piper Jaffray; 'Q1 Report De-Risks CY16'

Piper Jaffray analyst Gene Munster reiterated an Overweight rating and raised his price target on LinkedIn (NYSE: LNKD) to $180.00 (from $175.00) following Q1 results which he said "de-risks" CY16.

Munster commented, "LinkedIn got back on track with a 4% Q1 beat vs the Street and slightly higher Q2 guide. As we noted in our preview, the company typically reports 5% above the midpoint of its guidance and a slight revenue guide down of ~2.4% (average of last 12 quarters). We believe the earnings report in-line with historical comps and a better-than-typical guide should give investors more confidence in LinkedIn's guidance for the year and derisk numbers for the near-term following the less optimistic commentary on the Talent Solutions segment from last quarter. Beyond the results, management seemed more positive on the Talent Solutions segment in general, highlighting a number of areas for growth in the segment. We remain confident in our thesis that LinkedIn remains relatively unchallenged in the Talent Solutions business with optionality in education and Sales Navigator. We maintain our Overweight rating with a $180 target."

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 $123.01 yesterday.

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