Cornerstone OnDemand, Inc. (NASDAQ:CSOD) Raised to Strong-Buy at Needham & Company LLC
Cornerstone OnDemand, Inc. (NASDAQ:CSOD) was upgraded by equities researchers at Needham & Company LLC from a “buy” rating to a “strong-buy” rating in a report issued on Friday, Marketbeat reports. The brokerage currently has a $48.00 price objective on the software maker’s stock. Needham & Company LLC’s target price points to a potential upside of 25.10% from the company’s current price.
Several other brokerages have also recently weighed in on CSOD. Credit Suisse Group reiterated a “hold” rating and issued a $43.00 price target on shares of Cornerstone OnDemand in a research report on Monday, May 15th. Barclays PLC cut Cornerstone OnDemand from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $46.00 to $32.00 in a research report on Tuesday, June 20th. BidaskClub cut Cornerstone OnDemand from a “hold” rating to a “sell” rating in a research report on Thursday, July 6th. B. Riley reiterated a “buy” rating and issued a $47.00 price target on shares of Cornerstone OnDemand in a research report on Wednesday, May 3rd. Finally, Wells Fargo & Company initiated coverage on Cornerstone OnDemand in a research report on Thursday, May 11th. They issued a “market perform” rating and a $37.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $44.06.
Cornerstone OnDemand (NASDAQ:CSOD) traded up 4.52% during mid-day trading on Friday, hitting $38.37. The stock had a trading volume of 1,236,919 shares. Cornerstone OnDemand has a 52 week low of $30.31 and a 52 week high of $47.75. The company’s 50 day moving average is $37.28 and its 200-day moving average is $39.60. The stock’s market capitalization is $2.18 billion.
Cornerstone OnDemand (NASDAQ:CSOD) last announced its quarterly earnings results on Tuesday, May 2nd. The software maker reported ($0.20) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.06. The company had revenue of $111.58 million during the quarter, compared to analysts’ expectations of $110.23 million. Cornerstone OnDemand had a negative return on equity of 196.70% and a negative net margin of 14.89%. On average, analysts expect that Cornerstone OnDemand will post $0.41 EPS for the current fiscal year.
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In other news, SVP Adam J. Weiss sold 5,786 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $34.46, for a total value of $199,385.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R C. Mark Baker sold 4,000 shares of the business’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $37.76, for a total value of $151,040.00. Following the completion of the sale, the director now directly owns 24,000 shares of the company’s stock, valued at approximately $906,240. The disclosure for this sale can be found here. Insiders sold a total of 50,160 shares of company stock valued at $1,742,344 over the last quarter. Company insiders own 12.60% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in Cornerstone OnDemand by 4.0% in the fourth quarter. State Street Corp now owns 906,602 shares of the software maker’s stock worth $38,353,000 after buying an additional 34,590 shares during the period. Guggenheim Capital LLC raised its stake in Cornerstone OnDemand by 36.6% in the fourth quarter. Guggenheim Capital LLC now owns 9,776 shares of the software maker’s stock worth $414,000 after buying an additional 2,617 shares during the period. Norges Bank bought a new stake in Cornerstone OnDemand during the fourth quarter worth $11,655,000. Teachers Advisors LLC raised its stake in Cornerstone OnDemand by 2.0% in the fourth quarter. Teachers Advisors LLC now owns 82,940 shares of the software maker’s stock worth $3,509,000 after buying an additional 1,624 shares during the period. Finally, Alpha Windward LLC bought a new stake in Cornerstone OnDemand during the first quarter worth $434,000. 90.41% of the stock is owned by institutional investors.
About Cornerstone OnDemand
Cornerstone OnDemand, Inc is a cloud computing company. The Company provides learning and human capital management software, delivered as Software-as-a-Service (SaaS). Its human capital management platform combines the talent management solutions with analytics and human resources (HR) administration solutions to enable organizations to manage the employee lifecycle.
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