LinkedIn (LNKD) PT Cut to $245 at Cantor Fitzgerald; 'Buy' Maintained
Cantor Fitzgerald analyst Youssef Squali lowered his price target on LinkedIn (NYSE: LNKD) to $245.00 (from $180.00) following soft guidance after the close. However the firm is maintaining its Buy rating.
Squali commented, "LinkedIn met consensus estimates for 1Q:15 with solid underlying user metrics, but guidance disappointed as a result of 1) sales force account transitions in Talent Solutions, which is causing some revenue disruption short term, but should be positive for the business long term; 2) greater-than-expected drop in display advertising in Marketing Solutions mainly in Europe, and 3) worsening F/X impact. We're maintaining our BUY and lowering our estimates/PT to $245 from $280 to reflect the soft guidance, but remain bullish on the LT prospects of LinkedIn, given its unique franchise, large TAM, and attractive LT value."
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Shares of LinkedIn closed at $252.13 yesterday.