LNKD reports on Thursday:
LinkedIn loss expected in first earnings report
Silicon Valley / San Jose Business Journal Date: Saturday, July 30, 2011, 7:24am PDT - Last Modified: Saturday, July 30, 2011, 9:40am PDT
LinkedIn. Corp., whose stock has more than doubled since it went public in May, nonetheless is expected to post a loss of 4 cents a share on Thursday.
It will be the Mountain View-based online professional network's (NYSE:LNKD) first earnings report as a public company.
Revenue is expected to rise to $104.45 million. That compares to $93.9 million in revenue in the quarter that ended in March, a period in which it showed a net loss of $2.1 million.
Analysts have been wary of the company's meteoric stock jump, with the median price target of $86.50 a share well below its current level.
The stock closed Friday at $101.03, with a market cap of about $9.5 billion. It debuted in May at $45 a share.
J.P. Morgan analyst Doug Anmuth recently downgraded LinkedIn stock to neutral from buy, saying that despite his concerns over its current value, “We continue to believe LinkedIn is disrupting both the online and offline job recruitment markets, and deeper corporate penetration and increasing member engagement will drive strong results over the next few years.”
Written by Cromwell Schubarth. Contact him at 408.299.1823 or cschubarth@bizjournals.com.
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