![]() The weekly 3/24 7-strike put is the most active contract, with new positions opening there. Put traders have been quick to the draw today, with 70,000 puts exchanged so far, which is triple the volume typically seen at this point. On track for its fourth-straight day of losses, the equity is still up 32.9% year-to-date. Today's bear gap has LAZR dropping below several long-term moving averages converging just above the $7 level, including its 120-day trendline. The firm cited margin risk and premium valuation, though also recognizing the company as one of the leaders in the light detection and ranging (lidar) industry. LinkedIn shares have lost nearly a quarter of their value in the last three months.Luminar Technologies Inc (NASDAQ:LAZR) is down 15.8% at $6.51 at last glance and on the short sell restricted (SSR) list today, after a downgrade from Goldman Sachs to "sell" from "neutral" with a $5 price target. “Given those macro concerns and LinkedIn’s recent execution issues, we expect investors will demand financial outperformance before there is meaningful recovery in LNKD’s multiple,” Goldman Sachs analysts wrote in a client note. LinkedIn has been spending heavily on expansion by buying companies, hiring sales personnel and growing outside the United States, but is now facing pressure in Europe, the Middle East, Africa and Asia-Pacific due to macro-economic issues. Facebook, Alphabet and Inc are better picks for investors than LinkedIn, Evercore analysts wrote. LinkedIn should be trading at $71.79, a 35% discount to the stock’s Friday’s low of $75.54, according to StarMine’s Intrinsic Valuation model, which takes analysts’ five-year estimates and models the growth trajectory over a longer period. “We were wrong,” they said in a client note.Īs of Thursday, LinkedIn shares were trading at 50 times forward 12-month earnings versus Twitter’s 29.5 times, Facebook’s 33.8 and Alphabet’s 20.9, making it one of the most expensive stocks in the tech sector.Įven after the selloff, LinkedIn’s shares may still be overvalued, according to Thomson Reuters StarMine data. RBC analysts said they had thought LinkedIn was on the cusp of “fundamentally positive” change. Underscoring the slowdown in growth, LinkedIn said online ad revenue growth slowed to 20% in the fourth quarter from 56% a year earlier. ![]() “This would imply that LinkedIn will grow around 15% in 2017 and 10% in 2018,” the Mizuho analysts said. ![]() LinkedIn forecast full-year revenue of $3.60-$3.65bn, missing the average analyst estimate of $3.91bn, according to Thomson Reuters I/B/E/S. At least 22 brokerages cut their price targets on the stock, with RBC slashing its target by almost half to $156. Raymond James, Cowen and Co, BMO Capital Markets, JP Morgan Securities, RBC Capital Markets and Suntrust Robinson also downgraded the stock. Mizuho downgraded the stock to “neutral” and slashed its target price to $150 from $258. “With a lower growth profile, we believe that LinkedIn should not enjoy the premium multiple it has grown accustomed to,” Mizuho Securities USA Inc analysts wrote in a note. ![]()
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