Zacks: Brokerages Anticipate Cornerstone OnDemand, Inc. (CSOD) Will Post Quarterly Sales of $130.01 Million

Equities analysts expect Cornerstone OnDemand, Inc. (NASDAQ:CSOD) to post $130.01 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Cornerstone OnDemand’s earnings, with the highest sales estimate coming in at $130.32 million and the lowest estimate coming in at $129.63 million. Cornerstone OnDemand posted sales of $121.80 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.7%. The business is scheduled to report its next earnings results on Wednesday, November 14th.

According to Zacks, analysts expect that Cornerstone OnDemand will report full year sales of $524.11 million for the current financial year, with estimates ranging from $522.63 million to $526.23 million. For the next financial year, analysts expect that the company will post sales of $565.86 million, with estimates ranging from $553.19 million to $575.97 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Cornerstone OnDemand.

Cornerstone OnDemand (NASDAQ:CSOD) last announced its quarterly earnings data on Tuesday, August 7th. The software maker reported $0.12 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.12. Cornerstone OnDemand had a negative net margin of 10.03% and a negative return on equity of 79.03%. The firm had revenue of $132.52 million for the quarter, compared to the consensus estimate of $128.33 million.

A number of research firms have recently weighed in on CSOD. Piper Jaffray Companies restated a “buy” rating and issued a $65.00 price target on shares of Cornerstone OnDemand in a research note on Wednesday, August 8th. Mitsubishi UFJ Financial Group raised their price target on shares of Cornerstone OnDemand to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, August 14th. Barclays raised their price target on shares of Cornerstone OnDemand from $40.00 to $48.00 and gave the company an “underweight” rating in a research note on Friday, September 7th. BidaskClub downgraded shares of Cornerstone OnDemand from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 23rd. Finally, B. Riley raised their price target on shares of Cornerstone OnDemand from $49.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, May 30th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Cornerstone OnDemand presently has an average rating of “Buy” and an average target price of $56.09.

Shares of CSOD traded down $0.82 during mid-day trading on Friday, reaching $57.12. The company had a trading volume of 385,200 shares, compared to its average volume of 521,106. Cornerstone OnDemand has a 1-year low of $33.57 and a 1-year high of $59.18. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 6.50. The company has a market cap of $3.42 billion, a P/E ratio of -81.99 and a beta of 0.85.

In related news, CEO Adam L. Miller sold 5,834 shares of the firm’s stock in a transaction that occurred on Tuesday, July 3rd. The shares were sold at an average price of $47.95, for a total value of $279,740.30. Following the completion of the transaction, the chief executive officer now owns 3,452,434 shares in the company, valued at approximately $165,544,210.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Adam L. Miller sold 21,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 25th. The shares were sold at an average price of $58.07, for a total transaction of $1,219,470.00. Following the completion of the transaction, the chief executive officer now owns 3,369,334 shares of the company’s stock, valued at approximately $195,657,225.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 166,111 shares of company stock valued at $8,992,461. 11.70% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Strs Ohio raised its holdings in Cornerstone OnDemand by 175.0% in the 2nd quarter. Strs Ohio now owns 3,300 shares of the software maker’s stock valued at $156,000 after buying an additional 2,100 shares during the last quarter. Sun Life Financial INC bought a new position in Cornerstone OnDemand in the 2nd quarter valued at approximately $167,000. Global X Management Co LLC bought a new position in Cornerstone OnDemand in the 2nd quarter valued at approximately $167,000. Highland Capital Management LP bought a new position in Cornerstone OnDemand in the 1st quarter valued at approximately $215,000. Finally, Atria Investments LLC bought a new position in Cornerstone OnDemand in the 2nd quarter valued at approximately $265,000. Institutional investors and hedge funds own 91.72% of the company’s stock.

About Cornerstone OnDemand

Cornerstone OnDemand, Inc, together with its subsidiaries, provides learning and human capital management software through software-as-a-service model worldwide. Its enterprise human capital management platform comprises four product suites, such as Recruiting Suite that helps organizations to source and attract candidates, assess and select applicants, onboard new hires, and manage the entire recruiting process; Learning Suite, which enables clients to manage training and development programs, knowledge sharing and collaboration among employees, track compliance requirements, and support career development for employees; Performance Suite that provides tools to manage goal setting, performance reviews, competency assessments, development plans, continuous feedback, compensation management, and succession planning; and HR Administration Suite, which supports employee records administration, organizational management, employee and manager self-service, workforce planning, and compliance reporting.

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