- With Cornerstone OnDemand allegedly considering running a formal sale process of its business amid activist pressure, analyst Jack Andrews sees legacy technology companies looking to build and expand on SaaS in the cloud, other human resource technology operations and private equity firms as those to represent possible interest.
- Suggests a target for takeout in a low-$50s per share range, representing a 6x EV/revenue multiple, and restates Cornerstone OnDemand (CSOD +5.2%) at Buy with a $50 price target (current price $41.24).