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Friday, May 3
LinkedIn's (LNKD -9.9%) below-consensus guidance is likely conservative, Goldman declares as the...
LinkedIn's (LNKD -9.9%) below-consensus guidance is likely conservative, Goldman declares as the company gives back some of its giant 2013 gains. Goldman might be right, but investors have already come to expect big earnings beats. The sell-side is staying positive, arguing long-term growth drivers - strong user growth, recruiting share gains, higher engagement, etc. - remain intact. Not accounting for post-earnings estimate changes, LinkedIn currently trades at 87x 2014E EPS and 9.4x 2014E sales. Considering how share-losing rival Monster (MWW +4.6%) is performing, a strong NFP report may be limiting today's decline. (previous) (transcript)