UPDATE: Jefferies Raises PT to $175 on LinkedIn Following Strong Quarterly Results
Jefferies reiterated its Buy rating on LinkedIn (NASDAQ: LNKD) and raised the price target from $150.00 to $175.00.
Jefferies noted, "We reiterate our Buy and raise our PT to $175 following another beat and raise quarter. All three segments performed materially better than optimistic expectations, and we continue to see long secular runways for growth. … r. Rev grew +81% Y/Y to $303M ($299M adjusted for outside field sales rev), ahead of $280M cons/$272M guidance. EBITDA grew +128% Y/Y to $78.5M (25.9% margin), significantly ahead of $62.5M for cons/$59M guidance. LinkedIn now has over 200M monthly users."
LinkedIn closed at $124.09 on Thursday.
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