Cornerstone OnDemand (NASDAQ:CSOD) had its price target lifted by Needham & Company LLC from $55.00 to $60.00 in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage currently has a “strong-buy” rating on the software maker’s stock. Needham & Company LLC’s target price would suggest a potential upside of 26.66% from the stock’s previous close.
A number of other research analysts have also issued reports on CSOD. BidaskClub upgraded Cornerstone OnDemand from a “hold” rating to a “buy” rating in a research report on Wednesday, February 21st. Credit Suisse Group reiterated a “buy” rating and set a $49.00 price target on shares of Cornerstone OnDemand in a research report on Thursday, January 18th. Zacks Investment Research upgraded Cornerstone OnDemand from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Wednesday, January 17th. Bank of America upgraded Cornerstone OnDemand from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $42.00 to $48.00 in a research report on Monday, January 22nd. Finally, B. Riley boosted their price target on Cornerstone OnDemand to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, March 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. Cornerstone OnDemand currently has a consensus rating of “Buy” and an average price target of $49.56.
Cornerstone OnDemand opened at $47.37 on Tuesday, MarketBeat Ratings reports. Cornerstone OnDemand has a 12-month low of $46.76 and a 12-month high of $47.43. The company has a market cap of $2.72 billion, a P/E ratio of -67.67 and a beta of 0.56. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 8.85.
Cornerstone OnDemand (NASDAQ:CSOD) last released its quarterly earnings data on Tuesday, May 8th. The software maker reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.08. Cornerstone OnDemand had a negative return on equity of 119.83% and a negative net margin of 12.18%. The business had revenue of $133.11 million during the quarter, compared to analyst estimates of $126.95 million. During the same quarter in the previous year, the firm posted $0.08 EPS. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. equities analysts expect that Cornerstone OnDemand will post -0.28 EPS for the current fiscal year.
In other news, CEO Adam L. Miller sold 24,000 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $40.80, for a total value of $979,200.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Mark Goldin sold 6,047 shares of the business’s stock in a transaction on Wednesday, May 9th. The stock was sold at an average price of $46.74, for a total value of $282,636.78. Following the completion of the sale, the chief technology officer now directly owns 150,615 shares in the company, valued at approximately $7,039,745.10. The disclosure for this sale can be found here. Insiders sold a total of 111,869 shares of company stock worth $4,831,999 in the last three months. Company insiders own 12.60% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of CSOD. Carillon Tower Advisers Inc. bought a new stake in shares of Cornerstone OnDemand in the 4th quarter worth $52,352,000. Telemus Capital LLC bought a new stake in shares of Cornerstone OnDemand in the 4th quarter worth $14,000,000. Millennium Management LLC raised its stake in shares of Cornerstone OnDemand by 231.6% in the 4th quarter. Millennium Management LLC now owns 509,737 shares of the software maker’s stock worth $18,009,000 after buying an additional 356,032 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Cornerstone OnDemand by 13.5% in the 4th quarter. First Trust Advisors LP now owns 1,757,191 shares of the software maker’s stock worth $62,082,000 after buying an additional 209,082 shares in the last quarter. Finally, University of Notre Dame DU Lac bought a new stake in shares of Cornerstone OnDemand in the 4th quarter worth $7,319,000. 97.33% of the stock is currently owned by institutional investors.
About Cornerstone OnDemand
Cornerstone OnDemand, Inc, together with its subsidiaries, provides learning and human capital management software through software-as-a-service model worldwide. Its enterprise human capital management platform comprises four product suites, such as Recruiting Suite that helps organizations to source and attract candidates, assess and select applicants, onboard new hires, and manage the entire recruiting process; Learning Suite, which enables clients to manage training and development programs, knowledge sharing and collaboration among employees, track compliance requirements, and support career development for employees; Performance Suite that provides tools to manage goal setting, performance reviews, competency assessments, development plans, continuous feedback, compensation management, and succession planning; and HR Administration Suite, which supports employee records administration, organizational management, employee and manager self-service, workforce planning, and compliance reporting.
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