MKM Partners Remains Positive on LinkedIn Corp Following Recent Selloff
In a research report issued today, MKM Partners analyst Rob Sanderson reiterated a Buy rating on shares of LinkedIn Corp (NYSE:LNKD) with a price target of $285, which implies an upside of 60% from current levels.
Sanderson explained, “LNKD shares have continued to struggle after reporting Q2 results amidst overall market weakness. The stock is now down over 21% since the report vs. NASDAQ down 7.7%. Investors are concerned by an implied 2H guide-down, a negative ARPU comp and fear that there is another shoe to drop.”
However, “We remain confident that the core business remains healthy, weakness in legacy areas is contained and several emerging opportunities show promise. We encourage investors to accumulate the stock on controversy.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Rob Sanderson has a total average return of -6.7% and a 40.6% success rate. Sanderson has a -14.8% average return when recommending LNKD, and is ranked #3525 out of 3747 analysts.
Out of the 30 analysts polled by TipRanks, 22 rate LinkedIn Corp stock a Buy, 7 rate the stock a Hold and 1 recommends Sell. With a return potential of 45.2%, the stock’s consensus target price stands at $258.58.
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