Cornerstone OnDemand price target lowered to $53 from $75 at Pacific Crest Pacific Crest cut its price target on Cornerstone OnDemand after the company reported slightly lower than expected EPS and billings but higher than expected revenue. The firm did not see any areas of particular weakness in the company's U.S. enterprise business, and predicts that the company's FY16 free cash flow will reach $1.50 per share. It keeps an Outperform rating on the shares.
Cornerstone OnDemand upgraded on improving fundamentals at Needham As previously reported, Needham assumed coverage on Cornerstone OnDemand with a Strong Buy rating from Buy rating and raised its price target to $40 from $34. The firm believes Cornerstone is well positioned in the Human Capital Management software space to benefit from increasing spending levels for its core Talent Management applications. The firm also cites weakening competition, shifting customer purchasing preferences and the company's strong product vision.