Short Interest in Cornerstone OnDemand Rises By 44.0% (CSOD)
Shares of Cornerstone OnDemand (NASDAQ:CSOD) were the recipient of 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, American Banking News.com reports. Based on an average trading volume of 1,756,776 shares, the short-interest ratio is currently 2.1 days. Approximately 8.2% of the shares of the company are short sold.
In other Cornerstone OnDemand news, CEO Adam Miller sold 12,800 shares of Cornerstone OnDemand stock on the open market 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 completion of the transaction, the chief executive officer now directly owns 3,579,065 shares in the company, valued at approximately $140,585,673. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on CSOD shares. Analysts at Barclays cut their price target on shares of Cornerstone OnDemand from $66.00 to $50.00 in a research note on Friday. Separately, analysts at Needham & Company LLC cut their price target on shares of Cornerstone OnDemand from $65.00 to $50.00 in a research note on Friday. They now have a “buy” rating on the stock. Finally, analysts at Nomura reiterated a “buy” rating on shares of Cornerstone OnDemand in a research note on Friday. They now have a $55.00 price target on the stock. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $62.27.
Cornerstone OnDemand (NASDAQ:CSOD) opened at 39.44 on Monday. 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 $44.07 and its 200-day moving average is $50.73. The company’s market cap is $2.080 billion.
Cornerstone OnDemand (NASDAQ:CSOD) last announced its earnings results on Thursday, May 1st. The company reported ($0.10) EPS for the quarter, missing the Thomson Reuters 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 in the prior year, the company posted ($0.10) earnings per share. The company’s quarterly revenue was up 52.5% on a year-over-year basis. On average, analysts predict that Cornerstone OnDemand will post $-0.24 earnings per share 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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