After the bell on Thursday, LinkedIn (NYSE:LNKD) announced strong earnings in the first quarter of $5 million, or 4 cents per share. Excluding one-time items, the social networking company earned 15 cents per share, topping analysts estimates. Revenue more than doubled to $188.5 million, prompting the company to raise its full-year sales forecast to the range of $880 million to $900 million.
Following the news, JP Morgan raised its price target on shares of LinkedIn to $135 per share while maintaining its overweight rating.
Shares of LinkedIn soared 8.1% in early trading Friday.
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