JPMorgan Chase & Co. Boosts Cornerstone OnDemand (CSOD) Price Target to $38.00

Cornerstone OnDemand (NASDAQ:CSOD) had its price target lifted by research analysts at JPMorgan Chase & Co. from $37.00 to $38.00 in a report issued on Wednesday. The firm currently has a “neutral” rating on the software maker’s stock. JPMorgan Chase & Co.’s price target would indicate a potential downside of 2.81% from the company’s previous close.

Several other brokerages have also recently weighed in on CSOD. Zacks Investment Research cut Cornerstone OnDemand from a “buy” rating to a “hold” rating in a report on Friday, January 12th. Barclays lifted their price objective on Cornerstone OnDemand from $32.00 to $33.00 and gave the company an “underweight” rating in a report on Thursday, November 9th. BidaskClub raised Cornerstone OnDemand from a “sell” rating to a “hold” rating in a report on Saturday, January 6th. Bank of America raised Cornerstone OnDemand from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $42.00 to $48.00 in a report on Monday, January 22nd. Finally, KeyCorp reaffirmed a “hold” rating on shares of Cornerstone OnDemand in a report on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $43.00.

Cornerstone OnDemand (CSOD) traded up $0.10 during trading hours on Wednesday, reaching $39.10. The company had a trading volume of 861,934 shares, compared to its average volume of 535,391. The firm has a market cap of $2,230.36, a PE ratio of -31.28 and a beta of 0.57. Cornerstone OnDemand has a 1-year low of $33.24 and a 1-year high of $44.25.

Cornerstone OnDemand (NASDAQ:CSOD) last announced its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.02). The company had revenue of $131.96 million during the quarter, compared to analyst estimates of $132.12 million. Cornerstone OnDemand had a negative net margin of 15.45% and a negative return on equity of 173.27%. equities analysts forecast that Cornerstone OnDemand will post -0.66 EPS for the current year.

Cornerstone OnDemand declared that its Board of Directors has initiated a stock buyback plan on Wednesday, November 8th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the software maker to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

In related news, CEO Adam L. Miller sold 30,000 shares of the business’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $41.71, for a total transaction of $1,251,300.00. Following the sale, the chief executive officer now owns 3,502,640 shares in the company, valued at approximately $146,095,114.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director R C. Mark Baker sold 3,000 shares of the business’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $36.95, for a total value of $110,850.00. Following the sale, the director now owns 25,850 shares in the company, valued at approximately $955,157.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,000 shares of company stock worth $1,466,580. Corporate insiders own 12.60% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Cornerstone OnDemand by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 4,267,865 shares of the software maker’s stock worth $152,575,000 after acquiring an additional 37,652 shares during the last quarter. Clearbridge Investments LLC grew its position in Cornerstone OnDemand by 0.6% during the 4th quarter. Clearbridge Investments LLC now owns 2,558,173 shares of the software maker’s stock worth $90,380,000 after acquiring an additional 15,502 shares during the last quarter. Eagle Asset Management Inc. grew its position in Cornerstone OnDemand by 4.7% during the 3rd quarter. Eagle Asset Management Inc. now owns 2,222,813 shares of the software maker’s stock worth $90,601,000 after acquiring an additional 98,856 shares during the last quarter. First Trust Advisors LP grew its position in Cornerstone OnDemand by 13.5% during the 4th quarter. First Trust Advisors LP now owns 1,757,191 shares of the software maker’s stock worth $62,082,000 after acquiring an additional 209,082 shares during the last quarter. Finally, Carillon Tower Advisers Inc. bought a new stake in Cornerstone OnDemand during the 4th quarter worth $52,352,000. Institutional investors and hedge funds own 93.75% of the company’s stock.

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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.

Analyst Recommendations for Cornerstone OnDemand (NASDAQ:CSOD)

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