Equities analysts expect Cornerstone OnDemand, Inc. (NASDAQ:CSOD) to report $132.12 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Cornerstone OnDemand’s earnings. The highest sales estimate is $134.11 million and the lowest is $129.20 million. Cornerstone OnDemand posted sales of $109.03 million in the same quarter last year, which suggests a positive year over year growth rate of 21.2%. The business is scheduled to issue its next quarterly earnings report on Monday, February 12th.
According to Zacks, analysts expect that Cornerstone OnDemand will report full year sales of $132.12 million for the current fiscal year, with estimates ranging from $479.20 million to $484.13 million. For the next fiscal year, analysts expect that the business will report sales of $516.59 million per share, with estimates ranging from $495.30 million to $557.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Cornerstone OnDemand.
Cornerstone OnDemand (NASDAQ:CSOD) last posted its quarterly earnings data on Wednesday, November 8th. The software maker reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.02. The company had revenue of $121.80 million for the quarter, compared to analyst estimates of $118.95 million. Cornerstone OnDemand had a negative return on equity of 173.27% and a negative net margin of 15.45%. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.11 earnings per share.
CSOD has been the topic of a number of recent analyst reports. Zacks Investment Research raised Cornerstone OnDemand from a “sell” rating to a “hold” rating in a research note on Monday, October 9th. J P Morgan Chase & Co raised Cornerstone OnDemand from an “underweight” rating to a “neutral” rating in a research note on Wednesday, November 8th. Piper Jaffray Companies lowered Cornerstone OnDemand from an “overweight” rating to a “neutral” rating and set a $40.00 price objective on the stock. in a research note on Thursday, November 9th. KeyCorp reaffirmed a “hold” rating on shares of Cornerstone OnDemand in a research note on Thursday, November 9th. Finally, Barclays lifted their price objective on Cornerstone OnDemand from $32.00 to $33.00 and gave the stock an “underweight” rating in a research note on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $42.75.
Cornerstone OnDemand (CSOD) opened at $35.58 on Friday. Cornerstone OnDemand has a 12 month low of $33.24 and a 12 month high of $44.25.
Cornerstone OnDemand announced that its Board of Directors has authorized a share buyback program on Wednesday, November 8th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the software maker to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
In other Cornerstone OnDemand news, CEO Adam L. Miller sold 6,000 shares of Cornerstone OnDemand stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $40.81, for a total value of $244,860.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph P. Payne bought 3,000 shares of the stock in a transaction on Monday, November 13th. The stock was acquired at an average price of $34.32 per share, with a total value of $102,960.00. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 14,000 shares of company stock valued at $539,900. 12.60% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CSOD. Soma Equity Partners LP increased its holdings in shares of Cornerstone OnDemand by 260.3% during the third quarter. Soma Equity Partners LP now owns 898,000 shares of the software maker’s stock valued at $36,468,000 after acquiring an additional 648,773 shares in the last quarter. Eagle Asset Management Inc. increased its holdings in shares of Cornerstone OnDemand by 40.9% during the second quarter. Eagle Asset Management Inc. now owns 2,123,957 shares of the software maker’s stock valued at $75,931,000 after acquiring an additional 616,269 shares in the last quarter. Alyeska Investment Group L.P. increased its holdings in shares of Cornerstone OnDemand by 116.7% during the third quarter. Alyeska Investment Group L.P. now owns 1,027,302 shares of the software maker’s stock valued at $41,719,000 after acquiring an additional 553,191 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in shares of Cornerstone OnDemand during the second quarter valued at approximately $6,624,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Cornerstone OnDemand by 84.4% during the third quarter. Russell Investments Group Ltd. now owns 355,587 shares of the software maker’s stock valued at $14,441,000 after acquiring an additional 162,762 shares in the last quarter. Hedge funds and other institutional investors own 95.76% of the company’s stock.
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About Cornerstone OnDemand
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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