LinkedIn (LNKD) PT Lifted to $297 at Piper Jaffray

Piper Jaffray analyst Gene Munster reiterated a Overweight rating and boosted his price target on LinkedIn (NYSE: LNKD) to $297.00 (from $282.00) following strong Q4 results. The analyst said the strong CY15 guide points to enthusiasm on sales navigator.

Munster commented, "LinkedIn reported a strong Q4 with CY15 guidance better than investor expectations driven by the ramp of Sales Navigator. We believe the most important takeaway from the call is management's level of enthusiasm and confidence in Sales Navigator heading into CY 15. Our interpretation of management's feeling on Sales Navigator is based on their comparison of the potential market size of Navigator to Talent Solutions ($10 billion) and the plan to expand the sales force by 80%. We reiterate our Overweight rating and increase our price target to $297."

The firm raised FY 2015 EPS from $2.34 to $2.96.

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 $237.97 yesterday.

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