Cornerstone OnDemand, Inc. (CSOD) Expected to Announce Quarterly Sales of $118.81 Million
Brokerages expect Cornerstone OnDemand, Inc. (NASDAQ:CSOD) to announce sales of $118.81 million for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Cornerstone OnDemand’s earnings, with the highest sales estimate coming in at $119.70 million and the lowest estimate coming in at $118.11 million. Cornerstone OnDemand reported sales of $107.76 million during the same quarter last year, which indicates a positive year over year growth rate of 10.3%. The business is scheduled to announce its next quarterly earnings results after the market closes on Wednesday, November 8th.
According to Zacks, analysts expect that Cornerstone OnDemand will report full-year sales of $118.81 million for the current financial year, with estimates ranging from $477.19 million to $484.14 million. For the next financial year, analysts expect that the firm will report sales of $551.41 million per share, with estimates ranging from $540.30 million to $569.30 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Cornerstone OnDemand.
Cornerstone OnDemand (NASDAQ:CSOD) last issued its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.09). The firm had revenue of $116.70 million during the quarter, compared to the consensus estimate of $117.00 million. Cornerstone OnDemand had a negative net margin of 15.39% and a negative return on equity of 182.51%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year.
Several analysts have recently commented on the company. Zacks Investment Research downgraded Cornerstone OnDemand from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. B. Riley restated a “buy” rating and issued a $47.00 target price on shares of Cornerstone OnDemand in a research note on Wednesday, August 9th. Mitsubishi UFJ Financial Group restated a “neutral” rating on shares of Cornerstone OnDemand in a research note on Thursday, August 3rd. Needham & Company LLC upgraded Cornerstone OnDemand from a “buy” rating to a “strong-buy” rating and set a $48.00 target price for the company in a research note on Friday, July 14th. Finally, Credit Suisse Group upgraded Cornerstone OnDemand from a “neutral” rating to an “outperform” rating and raised their target price for the company from $43.00 to $49.00 in a research note on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $43.42.
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In other Cornerstone OnDemand news, CEO Adam L. Miller sold 6,000 shares of Cornerstone OnDemand stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $40.81, for a total transaction of $244,860.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R C. Mark Baker sold 2,000 shares of Cornerstone OnDemand stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $39.88, for a total value of $79,760.00. Following the transaction, the director now owns 25,850 shares of the company’s stock, valued at approximately $1,030,898. The disclosure for this sale can be found here. Insiders have sold a total of 35,000 shares of company stock valued at $1,429,460 in the last quarter. Company insiders own 12.60% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its stake in Cornerstone OnDemand by 1.3% during the 2nd quarter. Principal Financial Group Inc. now owns 7,306 shares of the software maker’s stock valued at $261,000 after purchasing an additional 95 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in Cornerstone OnDemand by 5.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,572 shares of the software maker’s stock valued at $163,000 after purchasing an additional 223 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Cornerstone OnDemand by 1.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 19,530 shares of the software maker’s stock valued at $760,000 after purchasing an additional 232 shares during the last quarter. Prudential Financial Inc. boosted its stake in Cornerstone OnDemand by 2.5% during the 2nd quarter. Prudential Financial Inc. now owns 10,678 shares of the software maker’s stock valued at $382,000 after purchasing an additional 260 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its stake in Cornerstone OnDemand by 0.8% during the 2nd quarter. Macquarie Group Ltd. now owns 45,300 shares of the software maker’s stock valued at $1,619,000 after purchasing an additional 344 shares during the last quarter. Institutional investors and hedge funds own 91.70% of the company’s stock.
Shares of Cornerstone OnDemand (NASDAQ CSOD) traded down 0.48% during mid-day trading on Friday, hitting $39.32. The stock had a trading volume of 39,612 shares. The firm’s 50 day moving average price is $39.00 and its 200 day moving average price is $37.54. Cornerstone OnDemand has a 1-year low of $30.31 and a 1-year high of $44.25. The company’s market cap is $2.26 billion.
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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