LinkedIn (LNKD) to be Used for Recruitment by Panasonic: Report

LinkedIn Corp (LNKD) shares are up 1.1% to $203.03 and it seems are rising on reports that the social networking service will be used for recruitment by Panasonic.

That news comes from Nikkei, which writes that major Japanese companies such as Panasonic and Rakuten plan to log on to Linkedin for recruiting purposes, seeing the Mountain View, Calif.-based company as a smart way to reach talent around the world.

The report goes on to say that Panasonic plans to set up its own Linkedin page by the end of the year and use it for midcareer hiring in Asia, Latin America and Europe.

With more than 277 million users worldwide, LinkedIn is the world’s largest professional social network.

LNKD has gained more than 14% on a year-over-year basis. The ticker has an average 30 day trading volume of 2.8 million shares. LinkedIn shares have a 52wk range of $160.20 – $257.56. The company has a current market cap of $24.54 billion, a forward P/E of 81.02 and a t12 P/E ratio of 911.97.

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