Goldman Sachs Upgrades Cornerstone OnDemand (CSOD) to Buy

Goldman Sachs upgraded Cornerstone OnDemand (NASDAQ: CSOD) from Neutral to Buy with a price target of $40.00 (from $35.00).

The firm sees revenue growth staying in mid 50s and see the potential for acceleration given the strong ytd billings growth and healthy endmarket demand for talent management.

In addition, the company continues to benefit from the consolidation around it (i.e., SAP-SuccessFactors, Oracle-Taleo, IBM-Kenexa) as it remains the largest pure-play multi-tenant talent management vendor.

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 $30.48 yesterday.

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