UPDATE: JG Capital Initiates Overweight, $35 PT on Cornerstone OnDemand

JG Capital initiated its coverage on Cornerstone OnDemand CSOD with an Overweight rating and a price target of $35 a share. JG Capital noted, "CSOD's solutions are flexible, highly configurable, easy-to-use, personalized, less expensive to own, scalable and offer faster delivery of updates and information, which encourages greater usage and higher renewal rates. … The SaaS market is consolidating with SAP (SAP) acquiring SuccessFactors, Oracle (ORCL) acquiring Taleo and RightNow. Thus, CSOD is a potential acquisition candidate." Cornerstone OnDemand closed at $25.14 on Monday.