Cornerstone OnDemand (CSOD) PT Raised to $42 at Northland Capital Markets

Northland Capital Markets analyst Scott Berg reiterated an Outperform rating and bumped his price target on Cornerstone OnDemand (NASDAQ: CSOD) to $42.00 (from $40.00).

Berg commented, "Reiterating OP rating and raising PT to $42 from $40 on strong 4Q industry checks that we believe indicate the company will report upside to consensus billings estimates. While we believe 4Q mainly benefitted from larger ASPs and a monster deal versus a big uptick in deal flow, our checks indicate CSOD will be in a stronger competitive position in 2015 that should drive higher realized pricing. We believe some headwinds from core HRMS vendors lurk, but these are more 2016 issues than 2015."

For an analyst ratings summary and ratings history on Cornerstone OnDemand click here. For more ratings news on Cornerstone OnDemand click here.

Shares of Cornerstone OnDemand closed at $33.66 yesterday.

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