Goldman Sachs Comments on LinkedIn's (LNKD) Q1

Goldman Sachs reiterated a Buy rating on LinkedIn (NYSE: LNKD) with a price target of $230.00. Analyst Heath P. Terry called Q1 results "strong."

"LinkedIn reported 1Q revenue of $473mn (+46% yoy vs. +47% in 4Q), above consensus of $467mn and the high end of guidance at $460mn. Adjusted EBITDA was $117mn, above consensus of $112mn and the high end of guidance at $108mn. We believe the long-term trajectory of existing businesses and the opportunity represented by emerging businesses like Sales Navigator remain among the strongest in Internet. Comps ease throughout the year in marketing services, which should increasingly benefit from native and mobile growth. Trading at ~18X 2015 EV/EBITDA versus the sector at 13X despite growing revenues at 2X the sector average, we believe the potential for further upside to consensus more than justifies that premium and remain Buy-rated," said Terry.

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 $161.22 yesterday.

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