UPDATE - Barclays Initiates Coverage on Cornerstone OnDemand (CSOD) with an Overweight; Well Positioned to Drive Growth
Tweet
Share
E-mailGet Alerts CSOD Hot Sheet
Price: $57.48 --0%
Rating Summary:
12 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
12 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
UPDATE - Barclays initiates coverage on Cornerstone OnDemand (NASDAQ: CSOD) with an Overweight. PT $22.
Barclays analyst says, "Given the shift in the L&TM market towards SAAS and integrated suites, we believe Cornerstone is well positioned to drive growth of approximately 50% over the next two years, materially outperforming the SAAS peer group. We see Cornerstone's proven, organically built SAAS platform as a major competitive advantage that is contributing to a rapid rise in new customers (200 added in 2010) and subscriber count (4.9 million+)."
"For FY11, we forecast Cornerstone to grow revenue by 49.5% to $69.7 million and post a non-GAAP loss of $0.32 per share. For FY12, we forecast revenue of $104 million (+49.3% y/y) and a loss of $0.07. Upon completion of the current investment cycle in support of growth, we expect Cornerstone to turn non-GAAP profitable in 4QFY12."
To see all upgrades/downgrades on shares of CSOD, visit our Analyst Ratings page.
Barclays analyst says, "Given the shift in the L&TM market towards SAAS and integrated suites, we believe Cornerstone is well positioned to drive growth of approximately 50% over the next two years, materially outperforming the SAAS peer group. We see Cornerstone's proven, organically built SAAS platform as a major competitive advantage that is contributing to a rapid rise in new customers (200 added in 2010) and subscriber count (4.9 million+)."
"For FY11, we forecast Cornerstone to grow revenue by 49.5% to $69.7 million and post a non-GAAP loss of $0.32 per share. For FY12, we forecast revenue of $104 million (+49.3% y/y) and a loss of $0.07. Upon completion of the current investment cycle in support of growth, we expect Cornerstone to turn non-GAAP profitable in 4QFY12."
To see all upgrades/downgrades on shares of CSOD, visit our Analyst Ratings page.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Needham Starts Faeth Therapeutics (FTH) at Buy
- Keefe, Bruyette & Woods Resumes Royal Bank of Canada (RY:CN) (RY) at Market Perform
- Keefe, Bruyette & Woods Resumes Canadian Imperial Bank of Commerce (CM:CN) (CM) at Market Perform
Create E-mail Alert Related Categories
New CoverageRelated Entities
BarclaysSign 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!
