LinkedIn Corp. (NASDAQ:LNKD) was upgraded by equities researchers at Cantor Fitzgerald from a “hold” rating to a “buy” rating in a research report issued on Friday, TheFlyOnTheWall.com reports. The firm currently has a $250.00 price objective on the stock, up from their previous price objective of $170.00. Cantor Fitzgerald’s target price points to a potential upside of 17.37% from the stock’s previous close.
The analysts wrote, “While we don’t like chasing runaway stocks (and LNKD has certainly been one), we don’t mind being forced to do so in rare cases where a company keeps outperforming expectations and where the long-term outlook keeps getting better with every passing quarter—we believe LNKD is one of these rare cases. We’re upgrading LNKD to BUY from HOLD with a $250 PT, up from $170.”
LinkedIn Corp. (NASDAQ:LNKD) traded up 10.47% on Friday, hitting $235.31. LinkedIn Corp. has a 52-week low of $94.75 and a 52-week high of $213.48. The stock’s 50-day moving average is currently $190.0. The company has a market cap of $25.970 billion and a price-to-earnings ratio of 825.58.
A number of other analysts have also recently weighed in on LNKD. Analysts at Wunderlich raised their price target on shares of LinkedIn Corp. from $205.00 to $225.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at TheStreet reiterated a “sell” rating on shares of LinkedIn Corp. in a research note to investors on Tuesday, July 23rd. Finally, analysts at SunTrust initiated coverage on shares of LinkedIn Corp. in a research note to investors on Monday, July 15th. They set a “neutral” rating and a $215.00 price target on the stock.
One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $208.79.
In other LinkedIn Corp. news, CEO Jeff Weiner unloaded 37,000 shares of the company’s stock on the open market in a transaction that occured on Monday, July 22nd. The shares were sold at an average price of $196.83, for a total value of $7,282,710.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
LinkedIn Corporation (NASDAQ:LNKD) is a professional network on the Internet with more than 90 million members in over 200 countries and territories.
