Growth reflect in LinkedIn’s business hiring

LinkedIn’s business hiring boom and international expansion are going to be the main growth reasons for the next few quarters as observed by analysts after the recent corporate networking website’s revenue & profit forecast surpassed expectations.

LinkedIn’s stocks rose 8% to $194.90 in early share trading after the firm also reported a 47% increase in second-quarter revenue last week. After that,at least 14 brokerages firms increased their price targets on the share, by as much as $30 and a high of $300.

Revenue for the company’s hiring business, termed as Talent Solutions, increased by 49%, assuaging concerns related to market saturation that came in news after LinkedIn’s forecast 2014 revenue remained below analysts’ expectations in May.

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LinkedIn’s current records of 28,000 plus corporate services and solutions clients shows a minority penetration rate for Linkedin’s Talent Solutions on a international base of around 745,000 addressable business having more than 100 employees,” as per a client note by Credit Suisse ,giving it “outperform” rating.

LinkedIn’s total membership boomed by a third to 313 million in quarter which ended on June 30. The LinkedIn, looking desperately to replicate its success in the USA internationally, recently launched a Chinese “beta” version of the main site in February’14 to grow in the world’s largest internet sector by users.

“Two-thirds of members are global and this cohort is expanding rapidly, fuelled by the launch of the simple Chinese site (in) Feb, and has become the most rapidly growing market to date,” as per a client note by Cowen & Co analysts. Cowen still maintained its “market perform” business rating and increased its price target on the share to $195 from previous $175.

Out ff the 36 analysts who are covering the stock, 24 have a “buy” option or a higher rating and 12 still have a “hold”, as per StarMine data released last Friday. There are still,no sell ratings on the stock.

Source : IndiaTimes

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