Nomura Securities Starts Cornerstone OnDemand (CSOD) at Buy, Sees 26% Upside

After the close Wednesday, Nomura Securities analyst Rick Sherlund initiated coverage on Cornerstone OnDemand (NASDAQ: CSOD) with a Buy rating and $23 price target, suggesting 26.4% upside.

Sherlund said, "We are optimistic on the longer-term growth potential of CSOD given inherent operating leverage as revenues scale, cross-selling opportunities with existing clients and a likely continuation of the consolidation theme within the SaaS market."

He also said the company's pro forma operating margins have considerable room for improvement.

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 $18.17 yesterday.

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