Morgan Stanley reiterates its Overweight rating on LinkedIn LNKD and raises its price target to $105 as the company beat estimates on earnings.
Morgan Stanley says, ": LinkedIn posted triple-digit Y/Y growth for the 6th consecutive quarter, but enterprise accounts & adj. EBITDA margins were the bigger CQ4 story, in our view. LinkedIn made the best of the holiday budget cycle by adding nearly 1.9K enterprise accounts to reach 9.3K total. The top-line beat helped LinkedIn navigate rising costs (sales & marketing grew +152% Y/Y) to drive better-than-expected adj. EBITDA margin (21% vs. consensus of 13%), which could indicate that LinkedIn is
nearing an ascent towards its long-term margin targets."
LNKD closed at $76.39 a share on Thursday.
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