LinkedIn (LNKD) Claims Top IPO Spot
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With today's 9 percent surge, LinkedIn Corporation (Nasdaq: LNKD) has taken over the top spot as the best performing IPO of 2011.
LinkedIn is now up a remarkable 141 percent from its May 2011 IPO, according to data at IPO Insider. LinkedIn claimed the top spot from Endocyte (Nasdaq: ECYT), which is up 133 percent from its February 2011 IPO.
After pricing at $45 and trading as high as $122.70 on its first day, LinkedIn plunged back down to $60.14 but it has been on a tear since this initial consolidation.
Recent negative jobs data has been viewed as a positive for the company as users look increase their network.
Analyst have been mostly positives on the stock with four Buy ratings, one Neutral and one Sell, according to data at StreetInsider.com's Ratings Insider. Analysts say the company is well positioned to take share of both the ~$27 billion addressable worldwide market for staffing and talent acquisition and the ~$70 billion global online advertising market.
Shares have already eclipsed the highest price target on the Street at $92, last trading at $109.
LinkedIn is now up a remarkable 141 percent from its May 2011 IPO, according to data at IPO Insider. LinkedIn claimed the top spot from Endocyte (Nasdaq: ECYT), which is up 133 percent from its February 2011 IPO.
After pricing at $45 and trading as high as $122.70 on its first day, LinkedIn plunged back down to $60.14 but it has been on a tear since this initial consolidation.
Recent negative jobs data has been viewed as a positive for the company as users look increase their network.
Analyst have been mostly positives on the stock with four Buy ratings, one Neutral and one Sell, according to data at StreetInsider.com's Ratings Insider. Analysts say the company is well positioned to take share of both the ~$27 billion addressable worldwide market for staffing and talent acquisition and the ~$70 billion global online advertising market.
Shares have already eclipsed the highest price target on the Street at $92, last trading at $109.
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