Molly Wood from Marketplace discussing market triggers & LinkedIn"s stock plunge
According to The Fly, linkedIn (NYSE: LNKD) received a Hold rating and a $196 price target from Jefferies analyst Brian Pitz yesterday. The companys shares closed yesterday at $192.21.
Pitz noted, Earlier today Microsoft announced that it is acquiring LinkedIn for $196/sh in cash. We do not see any other bidders stepping up and raising the deal price at this time. We continue to believe that M&A will be a key theme in the Internet space over the course of 16.
According to TipRanks.com, Pitz is a top 100 analyst with an average return of 12.4% and a 67.5% success rate. Pitz covers the Technology sector, focusing on stocks such as Activision Blizzard, Active Network Inc, and Electronic Arts.
Currently, the analyst consensus on LinkedIn is Moderate Buy and the average price target is $175.64, representing a -8.6% downside
. In a report issued on June 6, MKM Partners also reiterated a Hold rating on the stock with a $130 price target.
The company has a one year high of $258.39 and a one year low of $98.25. Currently, LinkedIn has an average volume of 2.68M.
Unlike Jefferies` latest rating, based on the recent corporate insider activity of 110 insiders, corporate insider sentiment is negative on the stock. Last month, Jeff Weiner, a the CEO of LNKD sold 3,240 shares for a total of $415,206.
LinkedIn Corp. operates an online professional network on the Internet. Its proprietary platform enables members to create, manage and share their professional identities online, build and engage with their professional networks, access shared knowledge and insights, and find business opportunities. It product lines include Talent Solutions, Marketing Solutions and Premium Subscriptions these three product lines are sold through two channels, an offline field sales organization which engages with both large and small enterprise customers, as well as an online, selfserve channel. The company was founded by Allen Blue, Reid G. Hoffman, Jean-Luc Vaillant, Konstantin Guericke and Eric Ly in November 2002 and is headquartered in Mountain View, CA.
Source: http://www.analystratings.com/2016/06/14/why-did-jefferies-downgrade-linkedins-stock/
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