UPDATE: Goldman Sachs Upgrades LinkedIn to Buy
Goldman Sachs upgrades LinkedIn (NASDAQ: LNKD) to Buy from Neutral as it raises estimates on strong core momentum. Price target is raised $55 to $135.
Goldman Sachs notes, "We believe growth in the core hiring solutions and marketing services businesses is likely to be higher than market expectations. Our checks show increasing traction for LinkedIn's hiring solutions and improving user engagement that, along with emerging products, suggest a steeper slope to the company's long-term growth. On a more macro level, we believe LinkedIn is one of the companies best positioned to benefit from growth in mobile usage given its reliance on subscriptions over advertising."
LNKD closed at $91.84 a share on Tuesday.
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Tags: Goldman Sachs