JPMorgan Chase Raises Price Target on Linkedin (LNKD)
Research analysts at JPMorgan Chase (NYSE: JPM) increased their target price on shares of Linkedin (NASDAQ: LNKD) to $135.00 in a report released on Friday. The firm currently has an “overweight” rating on the stock.
Linkedin traded down 4.96% on Friday, hitting $111.48. Linkedin has a 52-week low of $55.98 and a 52-week high of $122.70. The company has a market cap of $11.394 billion and a price-to-earnings ratio of 953.66.
Linkedin last posted its quarterly earnings results on Thursday, May 3rd. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.06. The company’s revenue for the quarter was up 100.7% on a year-over-year basis. Analysts expect that Linkedin will post $0.17 EPS next quarter.
A number of other analysts have also recently weighed in on LNKD. Analysts at Needham & Company reiterated a “hold” rating on shares of Linkedin in a research note to investors on Friday. They noted that the move was a valuation call. Separately, analysts at Canaccord Genuity raised their price target on shares of Linkedin from $95.00 to $135.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Finally, analysts at Piper Jaffray (NYSE: PJC) raised their price target on shares of Linkedin from $130.00 to $145.00 in a research note to investors on Friday.
LinkedIn Corporation (LinkedIn) is a professional network on the Internet with more than 90 million members in over 200 countries and territories.