UPDATE: Goldman Sachs Upgrades Cornerstone OnDemand to Buy on 2013 Outlook

Goldman Sachs upgraded Cornerstone OnDemand

from Neutral to Buy and raised the price target from $35.00 to $40.00. Goldman Sachs said, "We are more confident 2013 will show upside to estimates and believe investor sentiment on growth sustainability will improve as the company continues to benefit from its position as the leading, independent SaaS talent management vendor. We believe the Recruiting release in March could be a driver to billings upside." Cornerstone OnDemand closed at $30.48 on Thursday.