Stephens upgraded shares of Cornerstone OnDemand (NASDAQ:CSOD) from an equal weight rating to an overweight rating in a report issued on Tuesday, TheFlyOnTheWall.com reports. They currently have $65.00 target price on the stock, up from their previous target price of $46.00.
“We are upgrading CSOD to an Overweight (Vol) rating from Equal-Weight (Vol) and raising our price target to $65.00 (was $46). We believe that competition with Workday while present is not inhibiting growth and that 40+% growth is sustainable over the next few years as a result of accelerating end-market demand, market leading product and favorable competitive environment. Cornerstone is the only pure-play public SaaS company focused inherently on the Talent Management portion of the HCM market and is well positioned for sustainable strong organic growth.,” Stephens’ analyst wrote.
Shares of Cornerstone OnDemand (NASDAQ:CSOD) traded down 0.16% during mid-day trading on Tuesday, hitting $49.47. 132,272 shares of the company’s stock traded hands. Cornerstone OnDemand has a 1-year low of $25.44 and a 1-year high of $55.47. The stock’s 50-day moving average is $48.80 and its 200-day moving average is $47.35. The company’s market cap is $2.574 billion.
Cornerstone OnDemand (NASDAQ:CSOD) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.04) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.03) by $0.01. The company had revenue of $48.30 million for the quarter, compared to the consensus estimate of $48.28 million. During the same quarter in the prior year, the company posted ($0.07) earnings per share. The company’s quarterly revenue was up 57.3% on a year-over-year basis. Analysts expect that Cornerstone OnDemand will post $-0.21 EPS for the current fiscal year.
In other Cornerstone OnDemand news, SVP David Joseph Carter sold 25,000 shares of Cornerstone OnDemand stock on the open market in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $48.66, for a total value of $1,216,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at Northland Capital Partners raised their price target on shares of Cornerstone OnDemand from $50.00 to $58.00 in a research note to investors on Monday, September 30th. Analysts at Northland Securities reiterated a positive rating on shares of Cornerstone OnDemand in a research note to investors on Friday, September 27th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Cornerstone OnDemand currently has an average rating of Buy and an average price target of $51.40.
Cornerstone OnDemand, Inc is a provider of talent management solutions delivered as Software-as-a-Service (NASDAQ:CSOD).
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