Cornerstone OnDemand’s “Buy” Rating Reaffirmed at Nomura (CSOD)
Cornerstone OnDemand (NASDAQ:CSOD)‘s stock had its “buy” rating reiterated by analysts at Nomura in a research report issued to clients and investors on Friday, AR Network reports. They currently have a $55.00 price target on the stock. Nomura’s price target would suggest a potential upside of 44.39% from the stock’s previous close.
In other Cornerstone OnDemand news, CEO Adam Miller sold 12,800 shares of the company’s stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $39.28, for a total transaction of $502,784.00. Following the transaction, the chief executive officer now directly owns 3,579,065 shares of the company’s stock, valued at approximately $140,585,673. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Several other analysts have also recently commented on the stock. Analysts at UBS AG upgraded shares of Cornerstone OnDemand from a “neutral” rating to a “buy” rating in a research note on Monday, April 21st. They now have a $60.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at JMP Securities cut their price target on shares of Cornerstone OnDemand from $70.00 to $63.00 in a research note on Tuesday, April 8th. Finally, analysts at B. Riley initiated coverage on shares of Cornerstone OnDemand in a research note on Wednesday, March 12th. They set a “buy” rating and a $70.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $63.64.
Shares of Cornerstone OnDemand (NASDAQ:CSOD) traded down 2.34% on Friday, hitting $37.20. 771,686 shares of the company’s stock traded hands. Cornerstone OnDemand has a 52-week low of $32.82 and a 52-week high of $61.85. The stock’s 50-day moving average is $44.54 and its 200-day moving average is $50.80. The company’s market cap is $1.964 billion. Cornerstone OnDemand also saw a significant increase in short interest in April. As of April 15th, there was short interest totalling 3,770,270 shares, an increase of 44.0% from the March 31st total of 2,617,621 shares. Approximately 8.2% of the company’s shares are short sold. Based on an average daily volume of 1,756,776 shares, the days-to-cover ratio is presently 2.1 days.
Cornerstone OnDemand (NASDAQ:CSOD) last released its earnings data on Thursday, May 1st. The company reported ($0.10) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.09) by $0.01. The company had revenue of $57.41 million for the quarter, compared to the consensus estimate of $56.90 million. During the same quarter last year, the company posted ($0.10) earnings per share. Cornerstone OnDemand’s revenue was up 52.5% compared to the same quarter last year. Analysts expect that Cornerstone OnDemand will post $-0.24 EPS for the current fiscal year.
Cornerstone OnDemand, Inc is a provider of talent management solutions delivered as Software-as-a-Service (NASDAQ:CSOD).
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