Microsoft’s (NASDAQ:MSFT) LinkedIn arm will lay off some of its workforce for the second time this year, a Monday announcement revealed. Per the details of the statement, approximately 668 people will exit the company in what it calls a broader restructuring. Earlier in May, the company announced 716 layoffs. LinkedIn said slowing revenue growth necessitated the recent cut. The layoff is spread across its engineering, product, talent, and finance teams.
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LinkedIn, an employment-focused social media platform, has roughly 950 million members, growing 5% in Microsoft’s most recent quarter. Microsoft will give its fiscal first-quarter reports on October 24. So far, analysts predict the U.S. tech giant to earn $2.65 per share on $54.52B in revenue.
What is the Price Target for Microsoft?
Turning to Wall Street, analysts have a Strong Buy consensus rating on MSFT stock based on 30 Buys, four Holds, and zero Sells assigned in the past three months, as indicated by the graphic above. Furthermore, the average MSFT price target of $396.94 per share implies an 18.88% upside potential.
