Citi analyst Mark May attributes the recent underperformance of LinkedIn shares to concerns that the deceleration in the Hiring Solutions segment is the result of the company already penetrating much of its total addressable market. His analysis, however, indicates that LinkedIn has penetrated less than 20% of its current addressable market. Further, May believes LinkedIn has the potential to double the size of its current addressable market via new products in areas like employee referrals and service-worker recruiting. While the year-to-date selloff in shares has brought a more attractive entry point, LinkedIn still trades as a premium to peers, May tells investors in a research note. He calls the stock one of his most preferred Neutral-rated names. The analyst has a $219 price target for shares.