Evercore ISI Raises Price target on LinkedIn (LNKD) to $235 Following 3Q

Evercore ISI reiterated a Hold rating on LinkedIn (NYSE: LNKD), and raised the price target to $235.00 (from $211.00), following the company's 3Q earnings results. After stripping out the impact of its Lynda acquisition, billings increased 22%, which compares to +30% growth in reported revenues.

Analyst Ken Sena commented, "LinkedIn reported a better than expected quarter with billings, revenues and margins showing improved performance, even stripping out the Lynda acquisition. While billings growth (x-Lynda) remains suppressed relative to revenue growth, billings acceleration was witnessed vs. the prior period (22% vs. 20%). Meanwhile, engagement showed some further deceleration, which we measure on the basis of UVs divided by active members and y/y growth. Still, in weighing the upside across billings, revenues and particularly margins, which were further supported by the company’s fourth quarter guide, we are increasing our 2016 EBITDA 6% and increasing our target from $211 to $235."

For an analyst ratings summary and ratings history on LinkedIn click here. For more ratings news on LinkedIn click here.

Shares of LinkedIn closed at $217.00 yesterday.

You May Also Be Interested In

• JPMorgan Starts ICICI Prudential Asset Management (ICICIAMC:IN) at Overweight
• HSBC Downgrades Hermes International (RMS:FP) (HESAY) to Hold
• JPMorgan Starts BSE Limited (BSE:IN) at Neutral