Nomura Raises Numbers on Cornerstone OnDemand (CSOD) After "Strong" Q3
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Price: $57.48 --0%
Rating Summary:
12 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
12 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities lifted estimates and its price target on Buy-rated Cornerstone OnDemand (NASDAQ: CSOD) from $30 to $32 following results after the close.
"We continue to be buyers of Cornerstone on the back of a strong quarter," analyst Rick Sherlund comments. "Cornerstone reported 3Q'12 billings of $43.2mn, 26% above our estimate of $34.2mn and up 80% yoy. EPS of negative $0.07 was roughly in line with our and Street estimates. Cornerstone continues to benefit from a shift in buying patterns away from on-premise software and towards the cloud, and notes that it has not seen any slowing in business due to economies in Europe or consolidation by the larger ERP vendors."
The firm raised F12E/F13E EPS from ($0.28)/$0.00 to ($0.33)/($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 $26.33 yesterday.
"We continue to be buyers of Cornerstone on the back of a strong quarter," analyst Rick Sherlund comments. "Cornerstone reported 3Q'12 billings of $43.2mn, 26% above our estimate of $34.2mn and up 80% yoy. EPS of negative $0.07 was roughly in line with our and Street estimates. Cornerstone continues to benefit from a shift in buying patterns away from on-premise software and towards the cloud, and notes that it has not seen any slowing in business due to economies in Europe or consolidation by the larger ERP vendors."
The firm raised F12E/F13E EPS from ($0.28)/$0.00 to ($0.33)/($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 $26.33 yesterday.
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