UPDATE: Piper Jaffray Raises PT on LinkedIn to $145

Piper Jaffray has published a research report on LinkedIn

after the company reported a "big" quarter. In the report, Piper Jaffray writes, "Stellar Q1 results leapfrogged all estimates, including our above-street expectations, which should continue to support recent stock momentum (+74% since Dec.). A steady trajectory of customer and engagement metrics project continued strong growth within core Hiring and Marketing segments, however we see emerging opportunities in mobile and college/university markets, extending the growth life cycle. We're particularly excited about engagement/advertising opportunities in front of LinkedIn on the iPad." Piper Jaffray maintains its Overweight rating and has raised the price target from $130 to $145 on Linkedin, which closed yesterday at $109.41.