Cornerstone OnDemand (CSOD) Company Visit Show Multiple Expansion Possible - Needham
- Wall Street falls with financials, other post-election gainers
- The FTC Confirms Antitrust Charges Against Qualcomm (QCOM) for Monopolizing Semiconductor Device Used in Cell Phones
- United Airlines (UAL) Tops Q4 EPS by 5c
- Obama shortens sentence of Manning, who gave secrets to WikiLeaks
- After-Hours Stock Movers 01/17: (SHLO) Higher; (GIMO) (AFAM) (CSX) Lower (more...)
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Needham & Company analyst, Scott Berg, reiterated his Strong Buy on shares of Cornerstone OnDemand (NASDAQ: CSOD) after a company visit where he met with the CEO and CFO. The analyst believes the company can attain its 2018 profitability goals without sacrificing the strong sales momentum.
If the company can sustain its sales momentum, as industry checks continue to indicate it should, the analyst believes CSOD should grow revenue at 25%+, while driving 1500 bps of operating leverage, which should offer incremental multiple expansion. The additional revenue should come from partner leverage, expanded Recruiting adoption, and accelerating demand for its new analytics suite.
No change to the price target of $52.
Shares of Cornerstone OnDemand closed at $44.16 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Needham & Company Raises Price Target on Cornerstone OnDemand (CSOD) Following Industry Checks
- Extreme Networks (EXTR): Restructuring Charge Adds 10% to EPS, Raising PT - Needham
- Deutsche Bank Starts Danaher (DHR) at Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
Related EntitiesNeedham & Company
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!