LinkedIn (LNKD) Price Target Raised to $250 at Goldman Sachs

Goldman Sachs maintained a Buy rating on LinkedIn (NYSE: LNKD) and raised its price target to $250.00 (from $230.00). The change follows strong Q2 results. Analyst Heath P. Terry noted revenue growth reaccelerated.

"LinkedIn reported 2Q revenue of $534mn (+47% yoy vs. +46% in 2Q), well above consensus of $511mn and the high end of guidance at $505mn. Adjusted EBITDA was $145mn, also meaningfully above consensus of $122mn and the high end of guidance at $120mn. We believe the long-term trajectory of existing businesses and the opportunity represented by emerging businesses like Sales Navigator, which launched commercially this Q, remain among the strongest in Internet," said Terry.

"Comps ease throughout the year in Talent and Marketing services, which should increasingly benefit from native and mobile growth. At ~21X 2015E EV/EBITDA versus the sector at 13X, on more than twice the sales growth rate, we believe the risk/reward is favorable," he added.

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 $180.64 yesterday.

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