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Fly News Breaks for January 25, 2017
CSOD
Jan 25, 2017 | 06:41 EDT
Piper Jaffray analyst Alex Zukin raised his price target for Cornerstone OnDemand to $48 from $42 even though his channel checks suggest a mixed quarter for the company. Channel checks indicate Cornerstone's enterprise team performed well in Q4 but that a number of large deals were pushed into the Q1 period, Zukin tells investors in a pre-earnings research note. The company reports Q4 results on February 13. Zukin expects the results to be in-line with consensus expectations as he believes the company set achievable guidance last quarter. Cornerstone's recent challenges are transitory and the company remains a likely acquisition target, Zukin contends. He keeps an Overweight rating on the shares.
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