LinkedIn Corp (NYSE:LNKD) has been reiterated as an Overweight at Piper Jaffray by research analyst Gene Munster in a recent report released today. The analyst maintained a price target of $297 per share, which implies an upside of 18% from current levels.
The report comes after the company announced that it agreed to buy lynda.com, an online learning company that aims to help professionals further develop their skills, for approximately $1.5 billion in a deal comprising 52% cash and 48% stock.
Munster observed, “In the past, we have talked about education being a logical next step for LinkedIn as it builds out an end-to-end suite of tools for professionals to improve their marketability though targeted learning and skill acquisition. Today’s acquisition represents a move quicker than we would have expected into education given the company’s investment in Talent Solutions and Sales Navigator, we believe it makes sense for LinkedIn’s platform long-term and remain positive on shares.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Gene Munster has a total average return of 28.0% and a 71.6% success rate. Munster has a 6.6% average return when recommending LNKD, and is ranked #2 out of 3571 analysts.