Analysts Set Cornerstone OnDemand Inc. (CSOD) Price Target at $44.33
Cornerstone OnDemand Inc. (NASDAQ:CSOD) has been given an average recommendation of “Buy” by the eighteen brokerages that are presently covering the company. Two analysts have rated the stock with a sell recommendation, five have given a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $44.33.
Several research firms have weighed in on CSOD. Pacific Crest reaffirmed a “hold” rating on shares of Cornerstone OnDemand in a research note on Friday, August 5th. Credit Suisse Group AG downgraded shares of Cornerstone OnDemand from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $50.00 to $35.00 in a research note on Friday, November 4th. B. Riley reaffirmed a “buy” rating and set a $50.00 target price on shares of Cornerstone OnDemand in a research note on Wednesday, August 10th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $40.00 target price on shares of Cornerstone OnDemand in a research note on Friday, August 5th. Finally, Goldman Sachs Group Inc. upped their target price on shares of Cornerstone OnDemand from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, August 5th.
Cornerstone OnDemand (NASDAQ:CSOD) opened at 37.85 on Thursday. The stock’s market cap is $2.13 billion. Cornerstone OnDemand has a one year low of $22.25 and a one year high of $47.75. The company’s 50-day moving average price is $40.13 and its 200-day moving average price is $41.44.
Cornerstone OnDemand (NASDAQ:CSOD) last released its earnings results on Thursday, November 3rd. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.12. Cornerstone OnDemand had a negative net margin of 16.36% and a negative return on equity of 364.65%. The business earned $107.80 million during the quarter, compared to analysts’ expectations of $104.64 million. During the same quarter in the previous year, the company earned ($0.05) earnings per share. The company’s quarterly revenue was up 23.5% on a year-over-year basis. Analysts forecast that Cornerstone OnDemand will post $0.06 EPS for the current fiscal year.
In other Cornerstone OnDemand news, COO Kirsten Maas Helvey sold 6,084 shares of the firm’s stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $46.00, for a total transaction of $279,864.00. Following the completion of the transaction, the chief operating officer now directly owns 70,199 shares in the company, valued at approximately $3,229,154. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David Joseph Carter sold 8,820 shares of the firm’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $43.97, for a total transaction of $387,815.40. The disclosure for this sale can be found here. 12.60% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. Victory Capital Management Inc. acquired a new position in shares of Cornerstone OnDemand during the third quarter worth $32,626,000. Peregrine Capital Management LLC acquired a new position in shares of Cornerstone OnDemand during the third quarter worth $32,184,000. Sumitomo Mitsui Asset Management Company LTD acquired a new position in shares of Cornerstone OnDemand during the third quarter worth $17,306,000. RS Investment Management Co. LLC acquired a new position in shares of Cornerstone OnDemand during the second quarter worth $13,813,000. Finally, York Capital Management Global Advisors LLC acquired a new position in shares of Cornerstone OnDemand during the third quarter worth $15,845,000. Institutional investors and hedge funds own 91.05% of the company’s stock.
Cornerstone OnDemand Company Profile
Cornerstone OnDemand, Inc (Cornerstone) is a provider of talent management solutions delivered as Software-as-a-Service (SaaS). Cornerstone’s Enterprise and Mid-Market solution is a cloud-based suite that addresses needs throughout the entire employee lifecycle, from recruitment, onboarding, training and collaboration, to performance management, compensation, succession planning and analytics.
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