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Preview Of LinkedIn 1Q14 Results

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LinkedIn (NYSE: LNKD) will report first quarter 2014 results on Thursday after the close.

Company's Expectations

  • LinkedIn expects first quarter revenue to be within $455-$460 million.
  • The company expects to see $106- $108 million in adjusted EBITDA.
  • LinkedIn expects FY14 revenue of $2.02- $2.05 billion.

Analysts Expectations

  • According to the BenzingaPro calendar, analysts estimate first quarter EPS of $0.34 and $466.57 million in revenue estimates.
  • Morgan Stanley analyst John Egbert reiterated an Overweight rating and $250.00 price target on LinkedIn on Monday. Egbert feels confident in earnings, looking for +46 percent year-over-year growth in Talent Solutions. The analyst believes more catalysts and easier MS comps will come in the second quarter.
  • Shebly Seyrafi from FBN Securities expects a solid quarter but weak guidance. FBN reiterated an Outperform rating and lowered the price target to $250.00 on February 6. Seyrafi noted that EBITDA is expected to decline in the first quarter and FY2014 due to heavy investments of China, Bright, field sales, sales solutions and data center and facilities investments in 2014.
  • Wunderlich Securities analyst Blake Harper expects LinkedIn to beat guidance range and consensus. Wunderlich expects $476.6 million in revenues, $110.1 million in EBITDA, and $0.32 in non-GAAP EPS. Harper wrote, "We believe there could be upside to our estimate for Marketing to grow 34% Y/Y in FY14 given the company's supply of ad inventory. We also expect the marketing revenues through sponsored updates to be a key driver to boost mobile revenues, compared to the 41% of users accessing from mobile in Q4 and better engagement and traffic would go a long way toward improving investor sentiment. We also expect the company to introduce a stand-alone sales solution by the end of the year, which we estimate should address a $4 billion+ market in the U.S. and larger worldwide."

LinkedIn will hold a conference call at 5:00 p.m. EST.

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Posted-In: Blake Harper FBN Securities John EgbertAnalyst Color Earnings News Guidance Analyst Ratings


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