Market Overview

UPDATE: Goldman Sachs Raises Cornerstone OnDemand's PT

Related CSOD
Benzinga's Top Upgrades
A Portfolio To Profit From The Tech M&A Hot Streak: 'If You Can't Beat 'Em, Buy 'Em'
Microsoft, IBM May Do 'Move The Needle' M&As: Report (Investor's Business Daily)

According to a research report published this morning, Goldman Sachs has increased Cornerstone OnDemand's (NASDAQ: CSOD) PT from $22 to $24.

In the report, Goldman Sachs said, "Cornerstone OnDemand reported 1Q12 revenues of $24 mn and nonGAAP EPS of ($0.10) versus our estimates of $24 mn and ($0.11). Billings of $24 mn were up 67% yoy, accelerating from 58% yoy growth in 4Q and well ahead of our $20 mn estimate. Operating cash flow of $3.0 mn also beat our $1.5 mn forecast. We maintain our ($0.26) pro forma EPS estimate and are raising our FY13/FY14 estimates to $0.11/$0.34 from $0.04/$0.26 based on our revised revenue outlook."

Goldman Sachs maintains its Neutral rating on Cornerstone OnDemand, which closed yesterday at $18.31.

Latest Ratings for CSOD

Aug 2015Credit SuisseUpgradesNeutralOutperform
Aug 2015B RileyMaintainsBuy
Aug 2015BarclaysMaintainsOverweight

View More Analyst Ratings for CSOD
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Price Target Analyst Ratings


Related Articles (CSOD)

Get Benzinga's Newsletters