LinkedIn's weak forecast prompts growth concerns, price target cuts

(Reuters) - LinkedIn Corp forecast 2014 revenue below Wall Street's expectations, prompting concerns of turning into another social network unable to sustain its rapid growth pace and leading a host of brokerages to cut their price targets on the stock. The company's shares were down 2.7 percent at $156.88 on the New York Stock Exchange in early trading on Friday. LinkedIn, which is geared toward connecting professionals with prospective employers, raised its sales forecast for 2014 to $2.06 billion-$2.08 billion — below analysts' estimate of $2.11 billion. "We believe that Street expectations were running too high, and that LNKD is trying to level set those expectations," CRT Capital analysts wrote in a note.

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