LinkedIn Gets a Boost on Potential Strength of Subscription Sales

http://socialnetworkingnews.org/linkedin-gets-a-boost-on-potential-strength-of-subscription-sales/

SAN DIEGO, CALIF. (TheStreet) — LinkedIn (LNKD) is on the receiving end of a performance review-based raise Monday as BMO Capital Markets upped its 12-month price target for the professional social network to $260 on new confidence in the company’s ability to boost its subscriptions business.

The firm pointed to recent meetings with executives who addressed their concerns that a newly enhanced prospecting tool called “Sales Navigator,” which helps salespeople better locate LinkedIn members who might be potential customers, can grow revenue without alienating the company’s 332 million registered users. In LinkedIn’s most recent quarter, the overall subscription business, which includes revenue from Sales Navigator, grew 43% year-over-year to $114 million, and represented 20% of revenue.

Source: www.thestreet.com

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