LinkedIn (LNKD) Bullish View Reiterated at Sterne Agee CRT

Sterne Agee CRT analyst Arvind Bhatia reiterated his Buy rating and $218 price target on LinkedIn (NYSE: LNKD) following Q1 results.

Bhatia commented, "After being in the penalty box since disappointing full year guidance in Feb, LNKD appears to be back on track. LNKD reported better-than-expected 1Q results as user metrics (including growth and engagement), revenue across Talent, Marketing and Premium Subscription segments and EBITDA exceeded Street expectations. 2Q guidance is also slightly above consensus and management raised full year guidance (revenue guidance increased by more than the 1Q beat). Investor sentiment prior to earnings seemed overly bearish and these results should go a long way in alleviating that. We view LNKD as a high quality company with a unique value proposition and a strong management team."

The firm is adjusting 2016 adjusted EBITDA / EPS estimates to $1,008M / $3.40 from $980M / $3.23 and adjusting 2017 adjusted EBITDA / EPS estimates to $1,225M / $4.30 from $1,204M / $4.24.

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 $123.01 yesterday.

You May Also Be Interested In

• Freedom Broker Upgrades Danaos (DAC) to Buy
• Kymera Therapeutics (KYMR) PT Raised to $125 at Oppenheimer
• Shopify (SHOP) PT Raised to $175 at Evercore ISI