sobota, 3 maja 2014

LinkedIn forecast disappoints, prompts price target cuts

The logo for LinkedIn Corporation, a social networking website for people in professional occupations, is pictured in Mountain View (Reuters) - LinkedIn Corp's full-year revenue forecast fell short of market expectations, prompting at least 14 brokerages to cut their price targets on the stock. The company's shares were down more than 5 percent at $152.65 in late morning trading on the New York Stock Exchange on Friday. Investors expect social media companies, which command lofty valuations, to post high growth rates and even a slight miss prompts a backlash from Wall Street analysts and investors. "We believe that Street expectations were running too high, and that (LinkedIn) is trying to level set those expectations," CRT Capital analysts wrote in a note, cutting their price target to on the stock to $225 from $235.








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