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Tue, Feb. 3, 7:27 AM
Fri, Jan. 23, 9:45 AM
- Raymond James has upgraded LinkedIn (LNKD +1.6%) to Strong Buy from Market Perform ahead of its Feb. 5 Q4 report, and set a $280 target.
- The professional social networking giant is $15 away from a high of $243.25. Shares go for 9x 2015E sales on an EV/sales basis. This year's revenue growth consensus is at 34%.
Wed, Jan. 14, 6:51 PM
- While Facebook rolls out an enterprise social networking platform to test partners, LinkedIn (NYSE:LNKD) says it's prepping its own tools for connecting and sharing with co-workers.
- The products include a solution allowing users to send private messages (InMails) to co-workers even if they aren't connected, a product for sharing employee contact info, and an app for joining employee groups receiving specific content from an employer. However, unlike many existing business social networking solutions (as well as Facebook's), there won't be a chat service.
- Though widely used for professional networking and job hunting, LinkedIn isn't relied on nearly as much for communicating with co-workers - a use case that's more likely to involve active daily/weekly engagement. Boosting low engagement rates has been a LinkedIn priority for some time.
Wed, Jan. 14, 10:17 AM
- Facebook at Work, first reported on by the FT in November, has been made available via app stores to select enterprise test partners. The platform looks a lot like standard Facebook (FB +0.4%) - it contains a news feed, messaging tools, and groups - and lets users log in with their regular Facebook accounts. But a user's professional data is completely split off from his/her personal data, and Facebook won't collect any of it.
- Moreover, unlike LinkedIn (LNKD +0.1%), Facebook at Work is only focused (for now) on connecting with co-workers, thus arguably making it more of a rival to Jive Software (JIVE -0.3%), Salesforce's Chatter platform, and Microsoft's Yammer. LinkedIn and Jive both sold off following the November FT report.
- With no ads being sold, corporate subscriptions are a potential revenue stream. Facebook can count on its giant, highly engaged user base to drive interest in Work. At the same time, it has to contend with corporate wariness towards Facebook, historically viewed by many of them as a productivity-killer.
- Separately, Oppenheimer and Credit Suisse have respectively hiked their Facebook targets to $100 and $102. Oppenheimer expects a strong Q4 report on Jan. 28. "Checks suggest 4Q pricing +14% q/q and +21% y/y, with same-client spending +32% q/q and 33% y/y ... Organic reach is becoming more difficult, due to competition for newsfeed impressions ... We also see upside from increased video adoption."
- Credit Suisse cites the potential of Facebook's mobile ad network, and argues "Street models are too conservative and underestimate the long-term monetization potential of upcoming new products."
Dec. 18, 2014, 11:30 AM
- Wells Fargo has launched coverage on LinkedIn (NYSE:LNKD) with an Outperform rating and $260-$270 valuation range.
- The firm forecasts LinkedIn will post a 31% revenue CAGR from 2014-2016, and see its adjusted EBITDA margin rise to 28.4% in 2016 from 26.3% in 2014.
- The professional social networking leader is up 68% from a May low of $136.02. Shares go for 9.6x 2015E sales.
Nov. 17, 2014, 11:09 AM
- LinkedIn (LNKD -4%) is seeing profit-taking after the FT reported Facebook (FB -0.7%) is planning to launch a business-focused version of its core service that will support separate work accounts and feature collaboration tools. Enterprise social networking software vendor Jive (JIVE -5.9%) is also selling of.
- Salesforce (CRM -1.5%), whose Chatter business social networking platform has seen strong growth, is off moderately. The Nasdaq is down 0.4%.
- Facebook's service will be able to lean on the company's 1.35B-strong active user base, as well as its very high Web and mobile app engagement rates (much higher than LinkedIn's).
- At the same time, the offering will have to contend with corporate wariness towards Facebook (due to Facebook's historical consumer focus and reputation as a productivity-killer), as well as LinkedIn's established base of professional accounts (332M at the end of Q3) and the popularity of business social networking tools from the likes of Jive, Salesforce, Microsoft, and IBM.
Nov. 17, 2014, 2:09 AM
- Facebook (NASDAQ:FB) is developing a new website called "Facebook at Work" that will allow users to keep their personal profile separate from their work profile, FT reports.
- The new site will look very much like Facebook, with a newsfeed and groups, and will allow users to chat with colleagues, connect with professional contacts and collaborate over documents - a clear threat to rival LinkedIn (NYSE:LNKD).
Nov. 6, 2014, 8:46 AM| Comment!
Nov. 4, 2014, 4:08 PM
- LinkedIn (NYSE:LNKD) plans to sell $1.15B worth of convertible senior notes due 2019. Initial purchasers are expected to have a $172.5M overallotment option.
- With LinkedIn possessing over $2.2B in cash/marketable securities at the end of Q3 and no debt, there's a good chance some of the offering's proceeds will be directed towards acquisitions.
- News of the offering comes on a day LinkedIn's shares made fresh 52-week highs, continuing the strong rally they've seen since Thursday's Q3 beat.
Oct. 31, 2014, 12:55 PM
- LinkedIn's (NYSE:LNKD) Q3 beat more than offsets its light Q4 guidance, thinks FBR, one of several firms to hike its target today.
- FBR likes LinkedIn's Q3 Talent Solutions customer adds - 2.2K vs. 1.7K a year ago - as well as user engagement trends, 14% Q/Q growth in sponsored news feed update ad sales (now 31% of Marketing Solutions revenue), and ongoing progress for Sales Navigator (now 25% of subscription revenue).
- SunTrust expects a new Talent Solutions price hike to boost 2015 growth, and (like many others) considers Q4 guidance conservative. RBC takes note of LinkedIn's ARPU growth (5% Y/Y) and strong user metrics - registered members +28% Y/Y to 332M, monthly unique visitors +16% to 90M; member page views +28%.
- Shares now +66% from a May low of $136.02.
- Results/guidance, details.
Oct. 31, 2014, 9:06 AM
Oct. 30, 2014, 4:25 PM
- LinkedIn's (NYSE:LNKD) Talent Solutions revenue (jobs, 61% of total revenue) rose 45% Y/Y in Q3, after growing 49% in Q2. Marketing Solutions (ads, 19% of revenue) +45% vs. +44% in Q2. Subscriptions (20% of revenue) +43% vs. +44% in Q2.
- The U.S. made up 60% of revenue, even with Q2 and Q1. Field sales channels accounted for 60% of sales, and online/direct channels 40%.
- GAAP costs/expenses +44% Y/Y to $559.7M. Sales/marketing spend totaled $199.2M, R&D $136.5M, and G&A $89.3M.
- LNKD now -1.2% AH. Investors might be remembering LinkedIn has a long history of lowballing guidance.
- Results/guidance, PR
Oct. 30, 2014, 4:08 PM
Oct. 29, 2014, 5:35 PM
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