LinkedIn Stock Jumps After Goldman Recommendation
LinkedIn shares rose $5.94 or 6.5% yesterday to $97.78 after a Goldman Sachs analyst downgraded the stock from buy to neutral. LinkedIn had just dipped below $90 on March 20th on a down day for the market, and many pundits expected a sharp buyback after the dip. Investors hadn’t expected Analyst Heath Terry to explain that LinkedIn had a “high perceived value” with recruiters and that its Corporate Hiring Solution product had large growth potential.
Heath explained that LinkedIn has an advantage due to its position with businesses, but also because of its use of subscriptions rather than advertising to drive revenue.
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