In a research report issued Wednesday, Piper Jaffray analyst Gene Munster reiterated a Buy rating on shares of LinkedIn Corp (NYSE:LNKD), with a price target of $180, as he believes the long-term thesis intact with stock is not reflecting Q1 reality.

Munster wrote, “We remain buyers of LNKD based on our thesis that CY16 remains de-risked given the company’s visibility into the business, modest and achievable investor expectations for Talent Solutions beyond CY16, and long-term optionality in Learning and Development and Sales Navigator. Further, we felt management was generally more positive regarding the Talent Solutions business on its Q1 earnings call, which remains the biggest concern for investors. Beyond the CY16 numbers, we note that LinkedIn continues to drive user engagement through mobile apps and services including Chi Tu in China, targeted to the young working class. While the apps have a small direct impact to revenue, we believe they help users stay engaged with LinkedIn, which enhances the platform for recruiters.”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Gene Munster has a yearly average return of 18% and a 60% success rate. Munster has a -15.5% average return when recommending LNKD, and is ranked #5 out of 3926 analysts.