New highs for LinkedIn following Q2 beat; mobile, Talent Solutions in focus

|About: LinkedIn (LNKD)|By:, SA News Editor

Cantor has upgraded LinkedIn (LNKD +10.8%) to Buy, and plenty of other firms have raised their PTs, as a strong Q2 beat and a positive CC overshadow light guidance.

Cantor, raising its PT to $250 from $170, now forecasts a 30% intermediate/long-term CAGR, above a prior 25%.

Evercore is pleased mobile unique visitors (per LinkedIn's metrics) rose 102% Y/Y, making up 1/3 of total UVs and raising total UV growth to 45% from 29% in Q1 and 38% a year earlier. Total page views +69% Y/Y vs. +63% in Q1. The firm also observes member growth (+37% vs. +36% in Q1) rose for the first time since Q3 '11.

Piper declares LinkedIn unchallenged in a $27B recruiting market.

Mentioned on LinkedIn's CC: 2,100 corporate Talent Solutions customers added (up from 1,700 in Q1), raising total to 20K+; Talent ARPU growing; LinkedIn's new apps have boosted mobile engagement by 40%; 250K+ job listings now on LinkedIn, listing growth still above 75% Y/Y; sponsored news feed ads still in pilot stage; fewer large one-off ad deals due to transition; company seeing a "broader industry shift towards performance-based advertising."

Shares +106% YTD and trading at 17x 2013E sales.

Q2 results, details, slides, CC transcript