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LinkedIn (LNKD)

- NYSE
  • 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.
    | 4 Comments
  • 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.
    | 10 Comments
  • 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).
    | 15 Comments
  • Nov. 6, 2014, 8:46 AM
    • LinkedIn's (NYSE:LNKD) $1.15 offering of convertible senior notes due Nov. 2019 has been priced to feature an interest rate of 0.5%, and a conversion price of $294.54 (33% above current levels).
    • Shares fell 8.5% yesterday in response to LinkedIn's initial offering announcement.
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  • 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.
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  • 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.
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  • Oct. 31, 2014, 9:06 AM
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  • 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
    | Comment!
  • Oct. 30, 2014, 4:08 PM
    • LinkedIn (NYSE:LNKD): Q3 EPS of $0.52 beats by $0.05.
    • Revenue of $568.3M (+45% Y/Y) beats by $10.8M.
    • Expects Q4 revenue of $600M-$605M and EPS of $0.49, below a consensus of $611.6M and $0.52.
    • Shares -6.1% AH.
    • Press Release
    | 6 Comments
  • Oct. 29, 2014, 5:35 PM
  • Oct. 28, 2014, 6:38 PM
    • Facebook beat Q3 estimates, but provided Q4 revenue guidance that was slightly below consensus at the midpoint.
    • Twitter (NYSE:TWTR) -1.7% AH; shares fell 9.8% in regular trading due to yesterday's Q3 results and guidance.
    • LinkedIn (NYSE:LNKD) -1.6%. Pandora (NYSE:P) -1.2%. YELP -1.6%. Zillow (NASDAQ:Z) -1%.
    • Many of the same names sold off after Netflix and eBay's earnings two weeks ago.
    | 10 Comments
  • Oct. 15, 2014, 4:45 PM
    • Internet stocks are selling off in AH trading as Netflix craters in response to its light Q3 subscriber adds and disappointing Q4 guidance, and eBay slumps after providing weak Q4 guidance and reporting only 6% Y/Y Q3 Marketplaces growth.
    • Google (NASDAQ:GOOG) -1.6% AH. Facebook (NASDAQ:FB) -1.5%. Amazon (AMZN - taking share from eBay) -2.8%. Twitter (NYSE:TWTR) -1.9%. LinkedIn (NYSE:LNKD) -4.2%. YELP -1.4%.
    • Internet ETFs: FDN, PNQI, SOCL
    | 23 Comments
  • Sep. 26, 2014, 10:50 AM
    • LinkedIn's (NYSE:LNKD) Sales Navigator product will see its revenue rise to $1.9B in 2019 from a mere $273M in 2014, forecasts Cowen's John Blackledge, upgrading shares to Outperform. His target has been raised by $58 to $253.
    • Blackledge is a big fan of the Sales Navigator overhaul LinkedIn rolled out in late July for both PCs and mobile. It included a separate (non-LinkedIn) login, lead recommendation by account, better CRM software integration, easier data discovery, and other features sought by sales pros.
    • He notes data suggests social selling can provide a major boost to sales productivity, in part because it can eliminate cold-calling. Sales Navigator's subscriber count is expected to see a 59% CAGR from 2014-2019, eventually reaching 1.9M (3% global salesforce penetration).
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  • Aug. 21, 2014, 7:02 PM
    • Deep Nishar, LinkedIn's (NYSE:LNKD) SVP of products/user experience and a 6-year company vet, is leaving.
    • In a statement, LinkedIn states CEO Jeff Weiner will be "indefinitely" taking over Nishar's responsibilities. The company also observes its user base has grown by over 10x to 313M since Nishar came on board.
    • Nonetheless, LinkedIn has struggled in recent years to boost its historically low engagement rates (relative to other social networking platforms), in spite of a series of product changes meant to address the issue. The company's Q2 numbers suggest it's starting to make some headway.
    | Comment!
  • Aug. 19, 2014, 12:05 PM
    • Rumors that an institutional investor has taken a major short position in LinkedIn (LNKD -0.8%) are leading shares to slip on an up day for equities. David Einhorn's name has been thrown around in some of the rumors.
    • Shares remain up 20% from where they traded prior to LinkedIn's July 31 Q2 beat.
    | 8 Comments
  • Aug. 5, 2014, 2:25 AM
    • LinkedIn (NYSE:LNKD) will pay almost $6M to more than 350 current and former employees following a Department of Labor investigation which found that the online career-networking company violated U.S. wage law.
    • The Labor Department uncovered LinkedIn's failure to record and compensate workers for all hours worked, violating provisions of the Fair Labor Standards Act which requires non-exempt workers to be paid the federal minimum hourly wage plus overtime.
    | Comment!
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Company Description
LinkedIn Corp operates a social networking website used for professional networking. The Company's website allows members to post a profile of their professional expertise and accomplishments.