In addition to downgrading cloud ERP/CRM software vendor NetSuite, Goldman is changing its stance on two cloud HR plays: Ultimate Software (ULTI -2.1%) has been downgraded to Neutral, and Cornerstone OnDemand (CSOD +4.2%) upgraded to Buy. Though still positive on ULTI's long-term potential, Goldman isn't crazy about its valuation at current levels. The firm predicts Cornerstone's core business growth will accelerate, and (like Pac Crest) is positive on its Recruiting Cloud product.
In addition to downgrading cloud ERP/CRM software vendor NetSuite, Goldman is changing its...
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