Needham & Company Maintains a 'Buy' on Cornerstone OnDemand (CSOD); Impressive Start
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Price: $57.48 --0%
Rating Summary:
12 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
12 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Needham & Company maintains a 'Buy' on Cornerstone OnDemand (NASDAQ: CSOD) price target of $25.00.
Analyst, Michael Huang, said, "CSOD’s Q1 call was highlighted by impressive and accelerated bookings growth (67% y/y vs. 58% y/y growth in 4Q), raised revenue guidance (reflecting $1 million from organic and $1.5 million from the Sonar6 acquisition), and clear enthusiasm around competitive positioning and the strength of demand trends across geographies, customer segments and product areas. Bookings growth was driven by strength across the board, and did not reflect any notable changes to term lengths or payment terms. Additionally, we’re encouraged by suggestions that 2Q is off to a good start."
"We’re revising up our 2012 rev estimate to $115.3 million from $114 million but maintaining our EPS target at a loss of $0.27." (raises FY13 from (0.10) to (0.07))
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 $18.31 yesterday.
Analyst, Michael Huang, said, "CSOD’s Q1 call was highlighted by impressive and accelerated bookings growth (67% y/y vs. 58% y/y growth in 4Q), raised revenue guidance (reflecting $1 million from organic and $1.5 million from the Sonar6 acquisition), and clear enthusiasm around competitive positioning and the strength of demand trends across geographies, customer segments and product areas. Bookings growth was driven by strength across the board, and did not reflect any notable changes to term lengths or payment terms. Additionally, we’re encouraged by suggestions that 2Q is off to a good start."
"We’re revising up our 2012 rev estimate to $115.3 million from $114 million but maintaining our EPS target at a loss of $0.27." (raises FY13 from (0.10) to (0.07))
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 $18.31 yesterday.
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