Needham Reiterates Buy on LinkedIn Following Investor Meeting
In a report published Wednesday, Needham analyst Kerry Rice reiterated a Buy rating and $280.00 price target on LinkedIn Corp. (NYSE: LNKD).
In the report, Needham noted, “We held an investor meeting with LinkedIn's Investor Relations team at the company's San Francisco office yesterday. The tone of the meeting was positive and thoughtful, much like the company's strategy for new product launches. Engagement metrics continue to rise with its core product enhancements and product introductions. We remain steadfast in our view that recently launched Sponsored Updates, as well as efforts to improve international monetization, should be significant revenue growth drivers over the next 12-24 months. We expect product investments to bear fruit with Sales Navigator transitioning to be a core product and new product launches focusing on new verticals and demographics.”
LinkedIn Corp. closed on Tuesday at $235.92.
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