FBR launches coverage on CSOD, sees a possible buyout target

Citing the company's talent management software share gains and M&A potential, FBR has launched coverage on Cornerstone OnDemand (CSOD) with a Buy and $48 PT after the close.

Cloud HR software peers Taleo, Kenexa, and SuccessFactors have been respectively acquired by Oracle, IBM, and SAP, but M&A activity in the space has cooled down as of late. CSOD currently has a $2.23B market cap.

Shares might get a Thursday boost from the report. Thanks to a broader momentum stock selloff, they're down 32% from a February high of $61.85.

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