Cornerstone OnDemand, Inc.NASDAQ
Cornerstone OnDemand Has Further To Fall
Alpha Gen Capital
Alpha Gen Capital
Thu, Aug. 4, 4:05 PM
Wed, Aug. 3, 5:35 PM
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Thu, Jul. 14, 3:00 PM
Wed, May 25, 10:57 AM
- Instructure (NYSE:INST) is up 6.1% today after Oppenheimer reiterated a Buy rating on the stock, noting three reasons for bullishness on prospects for its corporate learning product, vs. Cornerstone OnDemand (NASDAQ:CSOD).
- The firm's Brian Schwartz points to midmarket as a "greenfield opportunity" with a lack of fitting solutions; corporate customers who already want complementary products, like performance management; and pipeline momentum.
- Meanwhile this week, company CEO Joshua Coates filed effective Monday that he has acquired 10,000 shares of the company, at $16.9675. Shares are quoting currently at $18.22.
Mon, May 23, 4:28 PM
- Intuit (INTU +1.5%) gained today, and NetSuite (N -0.8%) declined, after Goldman Sachs saw them going in different directions in a launch of enterprise software coverage.
- The firm's analyst Jesse Hulsing also likes Cornerstone OnDemand (CSOD -0.2%) as a winner in that sector (and Intuit has gotten praise at Goldman for election/tax reasons as well): "We see the most opportunity at the lowest end of the market, where we believe market expansion is occurring for INTU. We also rate CSOD a Buy due to improving underlying fundamentals, M&A optionality, and what we view as an attractive valuation."
- NetSuite is a Sell, though, "on organic billings/bookings deceleration and risk that 2017 consensus estimates are too high." Analysts expect the company to record EPS of $0.72 for 2017 along with revenues of $1.228B.
- Now read Not Even A Buyout Justifies Cornerstone OnDemand's Valuation »
Wed, May 4, 4:06 PM
- Cornerstone OnDemand (NASDAQ:CSOD): Q1 EPS of $0.00 beats by $0.10.
- Revenue of $99.4M (+33.5% Y/Y) beats by $3.7M.
Wed, May 4, 10:48 AM
- Brian Swartz, currently the CFO of online retailer Zuily (was recently acquired by Liberty Interactive), has been named Cornerstone OnDemand's (CSOD -0.6%) new CFO, effective June 1.
- Swartz replaces Perry Wallack, whose planned retirement was announced in February. Wallack plans to remain with Cornerstone through year's end to enable a smooth transition. Q1 results arrive this afternoon.
Tue, May 3, 5:35 PM
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Thu, Apr. 21, 1:09 PM
- Three months ago, cloud/SaaS software firms sold off after cloud IT service management software (ITSM) firm ServiceNow (NOW +14.5%) missed its Q4 billings guidance and offered light 2016 sales guidance. Today, the group is rallying after ServiceNow beat Q1 estimates, provided in-line guidance, and reported billings of $376.7M, up 41% Y/Y and beating guidance of $360M-$365M. The company also reported a 48% Y/Y increase in clients with over $1M in annualized contract value, to 249.
- Cloud gainers include HR/financials software leader Workday (WDAY +2.3%), ERP/commerce software firm NetSuite (N +4.9%), marketing automation software firms Marketo (MKTO +3.1%) and HubSpot (HUBS +3.2%), talent management software firm Cornerstone OnDemand (CSOD +2.9%), customer support software firm Zendesk (ZEN +3.8%), collaboration/project management software firm Atlassian (TEAM +2.6%), enterprise healthcare software firm Castlight (CSLT +5.4%), and life sciences software firm Veeva (VEEV +2.4%). The Nasdaq is nearly flat.
- BTIG's Joel Fishbein has hiked his ServiceNow target by $5 to $85, while reiterating a Buy rating. "Strong results across the board suggest that the company continues to see success both in core ITSM and as a broader enterprise service tool. After enjoying most of its public life as a beat-and-raise stock, 2015 was somewhat messy; strong growth and good [key performance indicators] supportive of the bull thesis were overshadowed throughout the year by minor miscues -- a forecasting error, currency adjustments, and inconsistent billings reporting.
However, 1Q was clean, with strong billings growth, healthy upsells, and metrics showing growing contribution from non-IT services. Law of large numbers is still looming on the horizon but ServiceNow is on the path of being one of a few elite category-leading enterprise SaaS companies. We continue to be buyers of NOW."
Fri, Feb. 19, 6:19 PM
- Praesidium Investment has disclosed a 3.27M-share (6%) stake in Cornerstone OnDemand (NASDAQ:CSOD).
- Praesidium, which took a stake in middleware/analytics software firm Tibco before the company was sold to P-E firm Vista Equity, says it has held "informal conversations with members of [Cornerstone's] management team and a member of [Cornerstone's] Board of Directors ... regarding multiple topics, including general business operations and strategic alternatives." The enterprise cloud software space has seen plenty of M&A in recent years, much of it at the hands of SAP and Oracle.
- Cornerstone hasn't yet moved after hours. Shares rose 5% in regular trading ahead of Praesidium's disclosure, aided by news of an insider buy.
Fri, Feb. 19, 11:33 AM
- Cornerstone OnDemand (CSOD +5.1%) director Joseph Payne bought 4K shares on Tuesday at $25.06. His total direct holdings now amount to 15,150. (source: InsiderInsights.com)
- The purchase came less than a week after the cloud talent management software firm posted a Q4 miss, issued light sales guidance and in-line EPS guidance, and disclosed CFO Perry Wallack plans to retire. Shares are now up 8% since the Q4 report.
Wed, Feb. 10, 7:37 PM| Wed, Feb. 10, 7:37 PM
Wed, Feb. 10, 6:45 PM
- In addition to missing Q4 estimates, Cornerstone OnDemand (NASDAQ:CSOD) guided on its earnings call for Q1 revenue of $95M-$96.5M and 2016 revenue of $425M-$433M, below consensus estimates of $97.3M and $438.4M. 2016 EPS guidance of $0.02 is in-line.
- The cloud talent management software firm's bookings rose 24% Y/Y to $142M in seasonally strong Q4, after having grown 26% in Q3. The deferred revenue balance was $252.1M at quarter's end, up 32% Y/Y.
- Clients rose by ~200 Q/Q to 2,600, and end-users by 1.6M to over 23.8M. GAAP operating expenses rose 20% Y/Y to $80.6M (compares with 26% revenue growth).
- CSOD -3.6% after hours to $23.51.
- Cornerstone's Q4 results, earnings release
Wed, Feb. 10, 4:04 PM
- Cornerstone OnDemand (NASDAQ:CSOD): Q4 EPS of -$0.02 misses by $0.04.
- Revenue of $95.9M (+24.8% Y/Y) misses by $1.63M.
- Shares +1.25%.
Tue, Feb. 9, 5:35 PM
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Mon, Feb. 8, 2:37 PM
- Many tech stocks are seeing 6%+ losses as investors flee to safety yet again. The Nasdaq is down 3.4%, and the S&P 2.7%.
- As was the case on Friday following Tableau and LinkedIn's disappointing guidance, a slew of enterprise tech stocks are seeing big losses, with cloud software and security tech names well-represented on the casualty list.
- Also: Solar stocks are having another brutal day (TAN -6.7%) as energy stocks get routed amid fears Chesapeake Energy is close to bankruptcy. WTI crude oil is once more near $30/barrel.
- Enterprise software decliners: Adobe (ADBE -9.6%), Paylocity (PCTY -19.1%), Salesforce (CRM -9.9%), Workday (WDAY -12%), Guidewire (GWRE -12.5%), ServiceNow (NOW -11.5%), Zendesk (ZEN -13.8%), Paycom (PAYC -13.4%), Marin Software (MRIN -10.3%), Castlight (CSLT -8.4%), Cornerstone OnDemand (CSOD -12.1%), Atlassian (TEAM -13.2%), inContact (SAAS -9.6%), and Bazaarvoice (BV -14.5%).
- Enterprise security decliners: Palo Alto Networks (PANW -12.2%), FireEye (FEYE -9.8%), CyberArk (CYBR -11.5%), Proofpoint (PFPT -12.7%), Qualys (QLYS -8.9%), Imperva (IMPV -9.7%), Rapid7 (RPD -9.4%), and Barracuda (CUDA -8.4%).
- Solar decliners: SunEdison (SUNE -11.3%), SunPower (SPWR -8.8%), JinkoSolar (JKS -7.6%), SolarEdge (SEDG -7.9%), Yingli (YGE -7.1%), TerraForm Power (TERP -10.7%), and TerraForm Global (GLBL -9.2%).
- Other major decliners: Micron (MU -9.1%), Western Digital (WDC -10.5%), Arista (ANET -10.9%), Universal Display (OLED -10.6%), Rackspace (RAX -11.3%), Fitbit (FIT -8.7%), Nimble Storage (NMBL -11.3%), Sierra Wireless (SWIR -9.9%), Rocket Fuel (FUEL -9.8%), Knowles (KN -9%), Mitel (MITL -8.9%), and Alarm.com (ALRM -8.9%).
- Previously covered: Yelp, Cognizant, Tableau, Globant, Ambarella, European tech stocks