NEW YORK — LinkedIn Corp. hopes to sell stock for $32 to $35 per share in an upcoming initial public offering.
The price target signals that the professional networking website is nearly ready to complete its IPO. The shares are expected to be sold May 18, analyst Scott Sweet said. The stock would then begin trading under the symbol of LNKD on the New York Stock Exchange.
The debut could offer a preview of investor demand for other popular online services that connect people with common interests. Facebook, Twitter, Groupon, and Zynga are among the other social-networking services expected to go public.
Based on the IPO’s price targets, LinkedIn would have a market value of $3 billion to $3.3 billion.
The company has more than 100 million registered members. Last year, LinkedIn had net income of $3.4 million on revenue of $243 million.