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February 8, 2013
11:08 EDTYELP, FB, ANGI, LNKDInternet stocks climb after LinkedIn beats expectations
Several Internet stocks are climbing after LinkedIn (LNKD) reported stronger than expected fourth quarter results yesterday night. The company's 2013 revenue guidance was in-line with expectations. LinkedIn's revenue from its Talent Solutions, which are used by hiring managers and recruiters, soared 90% last quarter, versus the same period in 2011. Its premium subscription revenue jumped 79% during the same period. In a note to investors earlier today, Piper Jaffray analyst Gene Munster responded to the company's results by raising his price target on the shares to $176 from $150. Munster continues to believe that LinkedIn is in the early stages of monetizing its professional network, and he thinks the company may generate the most growth of any large cap stock he covers. The analyst maintained an Overweight rating on LinkedIn. In mid-morning trading, Yelp (YELP) jumped 4.50% to $22.30, Angie's List (ANGI) rose 2% to $13, and Facebook (FB) added 1% to $29,
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