Needham & Company Starts Cornerstone OnDemand (CSOD) at Buy; Talent Management and in SaaS; Well Positioned For Consolidation

Needham & Company initiates coverage on Cornerstone OnDemand (NASDAQ: CSOD) with a Buy. PT $25.00.

Analyst, Michael Huang, said, "In our opinion, CSOD is a compelling secular growth story well leveraged to the rising strategic importance of Integrated Talent Management. Our $25 price target implies a 28% CAGR revenue growth through 2015, which we see as more than reasonable given the strength of demand trends, size of market opportunity, and CSOD’s competitive positioning."

"In light of recent high-profile acquisitions of its closest publicly traded competitors (SAP(NYSE: SAP)/SFSF, Oracle (NASDAQ: ORCL)/TLEO) that we believe validate the strategic importance of the Talent Management market, CSOD looks well positioned to capture the attention of institutional investors seeking more exposure to this space."

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 $18.68 yesterday.

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