![]() "We were wrong," they said in a client note. RBC analysts said they had thought LinkedIn was on the cusp of "fundamentally positive" change. "The mediocre employment report from the Labor department just amplified the reaction of anything employment sensitive today." "It's not a great day to have reported tough guidance," said Randle Reece, an analyst with Avondale Partners LLC. LinkedIn's hiring business, called Talent Solutions, is the company's biggest unit by revenue. monthly jobs report, which showed employment gains slowed more than expected in January. ![]() Underscoring the slowdown in growth, LinkedIn said online ad revenue growth slowed to 20 percent in the latest quarter from 56 percent a year earlier.Īdding fuel to the selloff was the release of the U.S. "This would imply that LinkedIn will grow around 15 percent in 2017 and 10 percent in 2018," Mizuho analysts said. LinkedIn forecast full-year revenue of $3.60-$3.65 billion, missing the average analyst estimate of $3.91 billion, according to Thomson Reuters I/B/E/S. ![]() Their median target dropped 34 percent to $188, according to Reuters data. "With a lower growth profile, we believe that LinkedIn should not enjoy the premium multiple it has grown accustomed to," Mizuho Securities USA Inc analysts wrote in a note.Īt least 36 brokerages cut their price targets, with Pacific Crest halving its target to $190. At least nine brokerages downgraded the stock to "hold" from "buy", saying the company's lofty valuation was no longer justified. ![]()
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