Cornerstone OnDemand Inc. (CSOD) Earns Strong-Buy Rating from Needham & Company LLC
Cornerstone OnDemand Inc. (NASDAQ:CSOD)‘s stock had its “strong-buy” rating reiterated by stock analysts at Needham & Company LLC in a note issued to investors on Monday. They presently have a $52.00 price target on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 18.78% from the stock’s current price.
Several other brokerages also recently weighed in on CSOD. First Analysis raised their price target on shares of Cornerstone OnDemand from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, September 6th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $40.00 target price on shares of Cornerstone OnDemand in a research report on Friday, August 5th. Goldman Sachs Group Inc. lifted their target price on shares of Cornerstone OnDemand from $43.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. Bank of America Corp. reaffirmed a “buy” rating and issued a $52.00 target price on shares of Cornerstone OnDemand in a research report on Friday, August 5th. Finally, Pacific Crest reaffirmed a “hold” rating on shares of Cornerstone OnDemand in a research report on Friday, August 5th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $45.60.
Cornerstone OnDemand (NASDAQ:CSOD) traded up 0.80% on Monday, hitting $43.95. 152,416 shares of the stock traded hands. The company’s 50 day moving average price is $45.15 and its 200-day moving average price is $40.26. The stock’s market cap is $2.46 billion. Cornerstone OnDemand has a 52-week low of $22.25 and a 52-week high of $47.75.
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In related news, insider David Joseph Carter sold 8,820 shares of Cornerstone OnDemand stock in a transaction on Friday, August 26th. The shares were sold at an average price of $43.97, for a total transaction of $387,815.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director R C. Mark Baker sold 4,000 shares of Cornerstone OnDemand stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $46.90, for a total transaction of $187,600.00. Following the transaction, the director now owns 22,000 shares in the company, valued at approximately $1,031,800. The disclosure for this sale can be found here. Corporate insiders own 12.60% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC purchased a new position in Cornerstone OnDemand during the first quarter worth $1,611,000. Hunt Lane Capital LP purchased a new position in Cornerstone OnDemand during the first quarter worth $28,641,000. Moore Capital Management LP purchased a new position in Cornerstone OnDemand during the first quarter worth $4,752,000. RGM Capital LLC boosted its position in Cornerstone OnDemand by 102.5% in the first quarter. RGM Capital LLC now owns 2,253,772 shares of the company’s stock worth $73,856,000 after buying an additional 1,140,639 shares during the period. Finally, HBK Investments L P purchased a new position in Cornerstone OnDemand during the first quarter worth $206,000. Institutional investors own 90.53% of the company’s stock.
Cornerstone OnDemand Company Profile
Cornerstone OnDemand, Inc (Cornerstone) is a provider of talent management solutions delivered as Software-as-a-Service (SaaS). Cornerstone’s Enterprise and Mid-Market solution is a cloud-based suite that addresses needs throughout the entire employee lifecycle, from recruitment, onboarding, training and collaboration, to performance management, compensation, succession planning and analytics.
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