In a report published Friday, Morgan Stanley analyst John Egbert reiterated an Overweight rating on LinkedIn Corporation LNKD and lowered the price target from $250.00 to $240.00 following first quarter 2014 results.
Summary of Earnings and Guidance
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- Net loss was $13.4 million for the quarter compared with $22.6 million for the same quarter a year ago.
- Non-GAAP net income was $47.3 million, compared to $52.4 million for the first quarter of 2013.
- Second quarter revenue is expected to be within $500- $505 million.
- The company sees adjusted EBITDA for 2Q14 to be in $118- $120 million range.
- Revenue for the full year is expected to be within $2.06 billion and $2.08 billion.
- LinkedIn sees adjusted EBITDA for FY14 to be in $505- $510 million range.
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