Mizuho Securities Remains Bullish on LinkedIn (LNKD) Following 2Q Results
Mizuho Securities reiterated a Buy rating and $240.00 price target on LinkedIn (NYSE: LNKD) following 2Q results. Revenue and EBITDA of $712m and $163m beat Street estimates of $680m for revenue and $125m for EBITDA. Analyst Neil Doshi said that the strong guide included contribution from the Lynda.com acquisition.
Doshi commented, "LinkedIn has been a labor of love, and serious labor at that. The company materially lowered its guide on its 1Q EPS call, and then lowered guide again on its 2Q call for its core businesses. So why do we remain buyers? 1) LNKD's talent solutions business is showing improvement, and indicators are pointing in the right direction; 2) Native advertising is becoming material and growing 100%+; 3) China is starting to contribute meaningful members; and 4) Sales Navigator beat our expectation."
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Shares of LinkedIn closed at $227.15 yesterday.