New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 12, 2014
10:42 EDTNTAP, CSOD, CRM, WDAYCornerstone OnDemand weak after results, analysts remain upbeat
Shares of cloud computing company Cornerstone OnDemand (CSOD) are dropping after the company reported in-line revenue and lower than expected profit. A number of analysts, however, were upbeat about the company following its results. WHAT'S NEW: Cornerstone OnDemand, which provides cloud-based management talent management solutions, reported a fourth quarter earnings per share loss, excluding some items, of 3c. Analysts' consensus estimate was 0c. The company provided slightly lower than expected first quarter revenue guidance, and its fiscal 2014 profit guidance came in significantly below expectations. On the other hand, the company's fiscal 2014 revenue guidance was ahead of the consensus outlook. Cornerstone stated that its momentum remains strong, noting that its bookings jumped 51% last quarter, versus the same period a year earlier. The company added that it had been able to significantly grow its sales to midmarket companies last year, while expanding its service into new industries, such as automotive, energy, and consumer products. ANALYST REACTION: In a note to investors, Pacific Crest analyst Brendan Barnicle wrote that Cornerstone's billing growth should enable the company to grow over the long-term. Moreover, the company's decision to increase investments in its business seem warranted, added the analyst. He increased his price target on the stock to $60 from $55 and kept an Outperform rating on the shares. Also upbeat on Cornerstone was JMP Securities analyst Patrick Walravens. Cornerstone's revenue guidance was "solid," and its "rapid growth" can continue, wrote the analyst, who hiked his price target on the shares to $70 from $56 and kept an Outperform rating on the stock. OTHERS TO WATCH: Other companies that provide cloud-based solutions include Workday (WDAY), salesforce.com (CRM), and NetApp (NTAP). PRICE ACTION: In mid-morning trading, Cornerstone fell 64c, or 1.1%, to $57.70.
News For CSOD;WDAY;CRM;NTAP From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
July 27, 2015
05:56 EDTCRMStocks with implied volatility movement; CRM GILD
Subscribe for More Information
July 26, 2015
14:44 EDTWDAYAmazon cloud sales signal risk for traditional data storage, Barron's says
Subscribe for More Information
July 24, 2015
05:49 EDTNTAPStocks with implied volatility movement; NTAP JNPR
Subscribe for More Information
July 23, 2015
11:54 EDTNTAPOptions with increasing call volume
Subscribe for More Information
11:03 EDTNTAPNetApp call activity attributed to takeover speculation
Subscribe for More Information
10:56 EDTNTAPRumor: NetApp strength attributed to takeover speculation
Subscribe for More Information
July 22, 2015
05:24 EDTCRMStocks with implied volatility movement; CHK CRM
Subscribe for More Information
July 21, 2015
15:11 EDTCRMEarnings Watch: Microsoft up 5% since announcing Nokia writedown
Subscribe for More Information
14:24 EDTNTAPEarnings Watch: EMC reports amid M&A speculation in sector
Subscribe for More Information
09:56 EDTCRMSalesforce rallies amid renewed speculation of Microsoft deal
Subscribe for More Information
09:55 EDTCRMSalesforce calls active
Subscribe for More Information
July 15, 2015
07:12 EDTNTAPNetApp upgraded to Sector Weight from Underweight at Pacific Crest
Subscribe for More Information
July 14, 2015
17:11 EDTCRMMicrosoft M&A chief says Salesforce sale 'depends on' Benioff, Fortune reports
Subscribe for More Information
10:01 EDTWDAYOn The Fly: Analyst Upgrade Summary
Subscribe for More Information
06:39 EDTWDAYWorkday upgraded to Buy from Hold at Evercore ISI
Subscribe for More Information
06:20 EDTWDAYWorkday upgraded to Buy from Hold at Evercore ISI
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use