Piper Jaffray Companies Reiterates Overweight Rating for Cornerstone OnDemand, Inc. (CSOD)
Cornerstone OnDemand, Inc. (NASDAQ:CSOD)‘s stock had its “overweight” rating reaffirmed by investment analysts at Piper Jaffray Companies in a research note issued on Friday, The Fly reports. They currently have a $46.00 target price on the software maker’s stock, down from their previous target price of $50.00. Piper Jaffray Companies’ price objective suggests a potential upside of 30.26% from the company’s current price.
A number of other research firms have also weighed in on CSOD. Credit Suisse Group reiterated a “hold” rating and issued a $43.00 price objective on shares of Cornerstone OnDemand in a research note on Monday, May 15th. Needham & Company LLC reissued a “buy” rating and issued a $48.00 price target on shares of Cornerstone OnDemand in a report on Wednesday, May 3rd. B. Riley reissued a “buy” rating and issued a $47.00 price target on shares of Cornerstone OnDemand in a report on Friday. Barclays PLC downgraded shares of Cornerstone OnDemand from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $46.00 to $32.00 in a report on Tuesday, June 20th. Finally, BidaskClub downgraded shares of Cornerstone OnDemand from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Cornerstone OnDemand has an average rating of “Hold” and a consensus target price of $44.43.
Shares of Cornerstone OnDemand (NASDAQ:CSOD) traded down 10.071% during midday trading on Friday, hitting $35.315. The company had a trading volume of 2,362,130 shares. The company’s 50-day moving average price is $37.42 and its 200 day moving average price is $38.95. Cornerstone OnDemand has a 12-month low of $30.31 and a 12-month high of $47.75. The company’s market capitalization is $2.01 billion.
Cornerstone OnDemand (NASDAQ:CSOD) last released its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by $0.09. Cornerstone OnDemand had a negative net margin of 15.39% and a negative return on equity of 187.91%. The business had revenue of $116.70 million during the quarter, compared to analysts’ expectations of $117 million. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. Equities research analysts predict that Cornerstone OnDemand will post $0.41 earnings per share for the current fiscal year.
In other Cornerstone OnDemand news, EVP Vincent Belliveau sold 11,660 shares of the business’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $40.00, for a total value of $466,400.00. Following the transaction, the executive vice president now owns 237,043 shares in the company, valued at $9,481,720. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Adam J. Weiss sold 5,786 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $34.46, for a total transaction of $199,385.56. The disclosure for this sale can be found here. Insiders sold 97,820 shares of company stock worth $3,668,934 in the last 90 days. Corporate insiders own 12.60% of the company’s stock.
Several institutional investors have recently made changes to their positions in CSOD. Engineers Gate Manager LP bought a new position in shares of Cornerstone OnDemand during the first quarter valued at about $237,000. Karp Capital Management Corp bought a new position in shares of Cornerstone OnDemand during the first quarter valued at about $355,000. Swiss National Bank boosted its position in shares of Cornerstone OnDemand by 1.1% in the first quarter. Swiss National Bank now owns 88,300 shares of the software maker’s stock valued at $3,434,000 after buying an additional 1,000 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Cornerstone OnDemand by 4.6% in the first quarter. First Trust Advisors LP now owns 1,228,904 shares of the software maker’s stock valued at $47,792,000 after buying an additional 54,405 shares in the last quarter. Finally, Essex Investment Management Co. LLC boosted its position in shares of Cornerstone OnDemand by 24.5% in the first quarter. Essex Investment Management Co. LLC now owns 27,243 shares of the software maker’s stock valued at $1,059,000 after buying an additional 5,355 shares in the last quarter. Institutional investors own 90.46% of the company’s stock.
Cornerstone OnDemand Company Profile
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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