LinkedIn Corp (LNKD) reported quarterly earnings results on Thursday, Aug-4-2016. The company said it had a profit of $1.13 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.35. Analysts had a consensus of $0.78. The company posted revenue of $932.71 million in the period, compared to analysts expectations of $898.56 million. The company’s revenue was up 31.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS.
Many Wall Street Analysts have commented on LinkedIn Corp. Company shares were Downgraded by RBC Capital Mkts on Jun 15, 2016 to ” Sector Perform”, Firm has raised the Price Target to $ 196 from a previous price target of $160 .LinkedIn Corp was Downgraded by Nomura to ” Neutral” on Jun 15, 2016. LinkedIn Corp was Downgraded by First Analysis Sec to ” Equal-Weight” on Jun 14, 2016.
LinkedIn Corp closed down -0.57 points or -0.30% at $192.52 with 9,98,481 shares getting traded on Tusday. Post opening the session at $193.01, the shares hit an intraday low of $192.32 and an intraday high of $193.01 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
In a different news, on Jul 19, 2016, Michael Gamson (SVP, Global Solutions) sold 2,596 shares at $189.36 per share price. According to the SEC, on Jul 13, 2016, Patricia L Wadors (SVP Global Talent Organization) sold 1,065 shares at $190.26 per share price. On Jul 6, 2016, Michael John Callahan (VP, GC AND SECRETARY) sold 742 shares at $190.10 per share price, according to the Form-4 filing with the securities and exchange commission.
LinkedIn Corporation (LinkedIn) is a professional network on the Internet. The Company’s three product lines include Talent Solutions Marketing Solutions and Premium Subscriptions. All three product lines are sold through two channels an offline field sales organization which engages with both large and small enterprise customers as well as an online self-serve channel which includes enterprise customers and individual members purchasing subscriptions. The Company’s solutions include Free Solutions and Monetized Solutions. Its Free Solutions includes the service to manage professional identity service to build and engage with professional networks access to knowledge insights and opportunities and ubiquitous access. The Company also provides other solutions which provide members enterprises and professional organizations with functionality and additional benefits.