- Cornerstone OnDemand (CSOD +5.7%) is on the move after Q2 EPS of -$0.07 missed by $0.01, and revenue of $44.3M beat consensus by $2.2M.
- CFO Perry Wallack also provided higher-than-expected guidance on the CC. Given the strength of Cornerstone's Q2, Wallack expects Q3 revenues of $47.5M-48.5M (+55.8% Y/Y at the midpoint and mostly above a consensus of $47.6M). 2013 revenue guidance has been lifted from $181M-183M to $183.5M-185.5M (+56.5% Y/Y at the midpoint and above a consensus of $182.2M).
- The results are being well-received by analysts. Piper Jaffray writes Cornerstone's 55% Y/Y Q2 bookings jump was the best in its peer group of cloud HR software providers, which includes Ultimate Software, Workday, and Salesforce.com.
- Piper Jaffray maintains its Buy rating, and hikes Cornerstone's PT from $55 to $57.
Cornerstone OnDemand moves up due to strong guidance
Aug 7 2013, 13:23 ET