Barclays Maintains an 'Overweight' on Cornerstone OnDemand (CSOD); Strong Momentum in Q1

Barclays maintains an 'Overweight' on Cornerstone OnDemand (NASDAQ: CSOD), PT $22.

Barclays analyst says, "Look to be Opportunistic on Pullbacks: Strong 1QFY11 results with a revenue increase of 63% y/y shows ongoing momentum for Cornerstone's SAAS-based learning & talent solutions. We maintain our OW/Positive rating and would look to be opportunistic on any pullbacks given the recent rally."

"We are raising our FY11 revenue est to $71.5M on Q1 upside. We are raising our FY11 EPS est to -$0.30 from -$0.32 on Q1 upside, somewhat diluted by slightly higher share count. We are our maintaining our Q2 revenue and EPS ests of $16M and -$0.07."

For more ratings news on Cornerstone OnDemand click here and for the rating history of Cornerstone OnDemand click here.

Shares of Cornerstone OnDemand closed at $21.34 yesterday.

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