Mon, Jun. 13, 3:20 PM
Mon, Jun. 13, 9:19 AM
Mon, Jun. 13, 8:53 AM
- Microsoft (NASDAQ:MSFT) will fund the deal mostly by issuing debt, with LinkedIn's (NYSE:LNKD) results to be reported as part of MSFT's Productivity and Business Processes segment. EPS is expected to take a minimal hit in fiscals 2017 and 2018, but the deal should become accretive beginning in fiscal 2019.
- The purchase is expected to close this year.
- Microsoft still intends to complete its current $40B buyback plan by year-end.
- Jeff Weiner will remain CEO of LinkedIn, reporting to Microsoft chief Satya Nadella.
- Nadella: "Together we can accelerate the growth of LinkedIn, as well as Microsoft Office 365 and Dynamics as we seek to empower every person and organization on the planet.”
- A conference call is scheduled for 11:45 ET.
- LNKD remains higher by 48.4% to $194.49. Reopened for trade, MSFT is lower by 3.6%.
- Previously: Microsoft buys LinkedIn for $26.2B (June 13)
- Twitter next? TWTR is higher by 4% premarket.
Mon, Jun. 13, 8:40 AM
Thu, Jun. 9, 7:43 AM
- Calling the company well-positioned to take advantage of a number of large recruitment and advertising markets, RBC Capital's Mark Mahaney upgrades LinkedIn (NYSE:LNKD) to Outperform from Sector Perform. The big drop in the stock price this year (though it has rallied more than 30% from the lows) makes the valuation "reasonably attractive."
- His $160 price target compares to yesterday's close of $133.84. Shares are up 2.6% premarket to $137.30.
Mon, May 2, 11:46 AM
- Avondale has lifted its price target on LinkedIn (LNKD +2%), noting with some caution that earnings did well, but not because of any dramatic change in business momentum.
- LinkedIn gained today, starting to build on Thursday's earnings beat that came along with solid Q2 profit guidance.
- Avondale boosted its price target to $140 from $120, implying about 4.4% upside. It's maintaining a Market Perform rating.
- Analyst Randle Reece said the company had cut guidance too far for Q1: “The company beat its overly harsh 1Q top-line guidance by 5%, but a notable deceleration is still visible in our LinkedIn outlook.”
- The company's Learning & Development segment has been tracking well ahead of estimates, he says, and he's raising his estimate for revenue ex-Learning by 3% for fiscal 2016-2017, and raising profit estimates for 2016 (improved operating leverage) and lowering them for 2017 (increased spending).
- Now read LinkedIn: Solid Quarter Affirms Shares Are Undervalued »
Fri, Apr. 29, 9:12 AM
- Gainers: PRGN +75%. GNW +16%. P +13%. AMZN +12%. SDRL +11%. EXPE +11%. MNST +11%. ROVI +10%. SNMX +9%. LNKD +7%. CRC +7%. DNR+7%. DRYS +7%. TIVO +6%. LGCY +6%. SHPG +5%. GPL +5%.
- Losers: BIOC -22%. GLNG -17%. EPAY -17%. MOH -15%. SRCL -15%. IMGN -14%. SYNA -11%. AKS -8%. HCLP -8%. ALR -6%. GILD -6%. RXDX -6%.
Thu, Apr. 28, 4:16 PM
- In addition to beating Q1 estimates, LinkedIn (NYSE:LNKD) is guiding for Q2 revenue of $885M-$890M and EPS of $0.74-$0.77 vs. a consensus of $886.1M and $0.71, and 2016 revenue of $3.65B-$3.7B and EPS of $3.30-$3.40 vs a consensus of $3.67B and $3.19.
- Hiring (jobs/recruiting) revenue rose 27% Y/Y to $502M, Marketing Solutions (ads) rose 29% to $154M, and Premium Subscriptions rose 22% to $149M. Learning (formerly Lynda.com) revenue totaled $55M.
- Hiring sales growth slowed a bit from Q4, but marketing and subscriptions growth improved. GAAP costs/expenses rose 42% Y/Y to $926.9M.
- Shares are up 11.5% after hours to $137.15. Expectations were low after LinkedIn was crushed in February due to the guidance accompany its Q4 report.
- LinkedIn's Q1 results, earnings release
Thu, Apr. 28, 4:10 PM
Thu, Apr. 21, 2:31 PM
- A rumor among traders that Microsoft could be looking to acquire LinkedIn (LNKD +2.8%) appears to be helping the beaten-up professional social networking leader rally on a quiet day for tech stocks. Volume is moderate - 2.3M shares vs. a 3-month daily average of 3.9M.
- Of note: Twitter has spiked on several occasions on similar kinds of rumors. In each case, the rumor didn't pan out.
- LinkedIn's Q1 report arrives on the afternoon of April 28. Shares are down 47% YTD, after getting crushed in February due to the weak guidance issued with a Q4 beat.
Wed, Mar. 16, 7:33 AM
- Morgan Stanley is the latest the throw in the towel on LinkedIn (NYSE:LNKD), downgrading to Hold from Overweight. The price target is cut to $125 from $190 (last night's close was $115.51).
- The team initiated coverage on the former high-flyer just over a year ago, with a price target then of $310.
- Shares -4.85% to $109.98 premarket.
Mon, Feb. 8, 10:35 AM
- Andrew Left, head of Citron Research (much better known for its short positions than its long positions), has told CNBC he took a long position in LinkedIn (LNKD +2.7%) on Friday, after shares nosedived due to the professional social networking leader's soft Q1/2016 guidance.
- Left: "Only buy stocks that you are willing to buy lower. That is the lesson. I am happy (with the drop) ... There are great companies that I couldn't own for years because of their price, and now I finally have a chance to be an investor. LinkedIn is one of them."
- LinkedIn is higher in spite of a 2% Nasdaq drop. Shares are still down 42% from last Thursday's close.
- Prior LinkedIn coverage
- Prior Citron Research coverage
Fri, Feb. 5, 2:26 PM
- Atlantic Equities, BMO, Cowen, JPMorgan, Mizuho, Monness Crespi, Raymond James, RBC, SunTrust, and Susquehanna have downgraded LinkedIn (NYSE:LNKD) to neutral ratings after the company offered weak Q1/2016 guidance with its Q4 beat, and suggested several factors related to hiring solutions, online ad, and subscription growth were to blame. Shares have crashed to levels last seen in 2012.
- Raymond James' Justin Patterson, who previously had a Strong Buy rating: "While guidance likely contains some conservatism, LinkedIn’s now provided cautious guidance for three of the past four quarters and earnings quality is poor (i.e. [stock compensation[ now represents >60% of EBITDA, with revenue growth decelerating). Thus, we believe the after-hours reaction is warranted and that LNKD shares are likely range-bound until growth reaccelerates, guidance volatility subsides, and earnings quality improves."
- Citi's Mark May (Neutral): "While 4Q15 results could be characterized as mixed, three of the last four quarters have now included ‘issues’ ... Even considering mgmt’s history of conservatism, guidance implies a meaningful deceleration in revenue growth to the 20-30% range from 35-40% recently, as well as 30% incremental margins for 2016, below the 32% incremental margins in 4Q15."
- Pac Crest's Evan Wilson (Overweight rating): "LinkedIn has rarely given investors a reason to own the stock in 1H and it has happened again ... we think its outlook will most likely end up being conservative as it usually is. We think for its data alone, LinkedIn is a worthy acquisition for any number of enterprise software companies at this valuation." Wilson is, however, critical of LinkedIn's decision to shutter its standalone Lead Accelerator B2B ad product. "Now Sales Navigator really is LinkedIn's only big near-term opportunity to materially increase the monetization of its data set. Ugh."
- BMO's Dan Salmon: "[W]e came away from 4Q results with less confidence in our long-term thesis. Moreover, while US employment trends are still relatively strong, an uncertain air surrounding near-term hiring appeared to develop toward year-end ... Looking more closely at the long-term product roadmap, the path to engaging new groups of power users (B2B marketers, salespeople) has been bumpier than expected."
- Stifel's Scott Devitt (Buy, $220 target) is still a believer. "Investors may question its strategy, but LinkedIn is narrowing its focus on high value, high impact initiatives and jettisoning those investments that do not provide acceptable returns. Although its marketing business will likely face distractions this year, we think LinkedIn’s talent, sales, and learning & development businesses are poised for a strong year."
- As is Needham's Kerry Rice (Buy, $200 target): "[W]e believe our estimates could prove conservative due to: 1) LNKD’s core products remain healthy; 2) LNKD continues to have a strong product pipeline, including Lynda and Sales Solutions, the full potential of which we believe is yet to be realized; and 3) management continues to stay focused in terms of both execution and resource allocation."
- Prior LinkedIn coverage
Fri, Feb. 5, 12:40 PM
Fri, Feb. 5, 9:17 AM
Thu, Feb. 4, 5:39 PM
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... More
Industry: Internet Information Providers
Country: United States
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