MKM Partners maintained its bullish stance on LinkedIn Corp, citing buying opportunity from scattered investor concerns
MKM Partners has reiterated a Buy rating on LinkedIn Corp (NYSE:LNKD) stock along with the 12-month target price of $282, as they believe that the scattered investor concerns following second-quarter earnings is creating a lucrative buying opportunity for investors.
LinkedIn Corp managed to deliver an upbeat performance in the second quarter of fiscal year 2015. The company reported adjusted earnings per share of $0.55, surpassing its estimate $0.30. Furthermore, revenues clocked in at $711.7 million, beating its estimate of $679.6 million. MKM Partners have highlighted the increased investor concerns around the implied second-half guide down, along with negative average revenue per unit (ARPU) comp and believes that the recent slump in its stock price offers a unique entry point for investors.
MKM Partners maintained its bullish stance on the stock as they believe LinkedIn will benefit from its healthy core business, along with contained weakness in other legacy areas. Furthermore, the sell-side firm believes that LinkedIn has a sufficient upside potential, highlighting its strong talent solutions.
Out of the 44 analysts polled by Bloomberg, 34 rate LinkedIn stock a Buy, seven recommend a Hold, while the rest tag it as a Sell. The 12-month consensus target price is $252.47. The stock is currently down over 0.5% in the opening hours of the trading session and has fallen approximately 23%, as compared to Dow Jones Index that fell 10% since the start of fiscal year 2015.
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