LinkedIn Stock Rebounding After Endorsements From Analysts
MOUNTAIN VIEW (CBS SF) - LinkedIn's stock is pulling itself back up off the matt this week after a steep drop from its all time highs reached earlier this year.
The professionally-oriented networker is getting heavy interest on reports that billionaire investor Carl Icahn is taking a big stake in the Mountain View firm, as well getting help from bullish research notes from RBC Capital and JP Morgan.
The Mountain View company's stock took a dive in late April when it provided a weak forecast in its earnings report, with some concern over a big Salesforce reorganization. Even with its stock surging higher this week, its still about $60 below its all time high reached earlier this year, although that had come after a huge increase over the prior several months.
The RBC and JP Morgan analysts think business trends are improving for LinkedIn, and that the sales shuffling will no longer have a big impact.