Shares of LinkedIn Corp. climbed nearly 21% in midday trading on Friday on results that beat analysts’ estimates for the seventh quarter in a row.
The social networking website for professionals reported on Thursday an 81% increase in fourth-quarter revenue and raised its forecast for the current first quarter.
Several research firms raised their price targets for the company.
“If execution continues, we struggle to see how margin expansion can’t approach (and possibly exceed) 2012 levels,” wrote Macquarie analyst Tom White in a note to investors.
White raised his forecast for 2013 adjusted earnings before interest, taxes, depreciation, and amortization margin to 25.4 percent from 24.7%.
In contrast to widely watched consumer Internet companies like Facebook Inc, Groupon Inc and Zynga Inc , all of which went public not too long ago, LinkedIn continues to trade well above its debut price of US$45.
LinkedIn was co-founded in 2002…
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