LinkedIn has had an impressive run when it comes to beating Wall Street's quarterly estimates. But analysts continue to raise the bar, and it's getting difficult for the company to keep up with the Street's lofty predictions.
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For the eight quarters LinkedIn has been a public company, it has beat analysts' earnings and revenue estimates. But that perfect record has driven Wall Street to push its projections beyond the company's forecast, increasing the pressure to deliver big results.
"We also note that consensus estimates for revenue and EPS, including ours, are above the high end of the company guidance, but the company has a history of actual results materially exceeding consensus," said Colin Gillis, an analyst for BGC Partners, said in a note Tuesday.
LinkedIn is scheduled to report second-quarter earnings after the bell Thursday, and analysts forecast earnings per share of 31 cents on revenue of $354 million, according to Thomson Reuters. In year-earlier quarter, the company reported EPS of 16 cents on revenue of $228 million.
(Read more: LinkedIn earnings beat; outlook falls short)
Gillis, who has a buy rating on the stock with a price target of $225, said BGC's revenue estimate for the quarter is $358.3 million, about 10 percent more than the first quarter and up 57 percent year-over-year. He looks for EPS of 33 cents, which is also above the Street's consensus.
LinkedIn's stock price has risen after earnings in four of the last five quarters, but in the last quarter, reported in early May, its share price had a 13 percent pullback, Gillis said. But he added that the stock fully recovered from its fall from grace and then some since. And he said he expects the company will continue to outperform.