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Fly News Breaks for February 14, 2017
CSOD
Feb 14, 2017 | 08:54 EDT
JPMorgan analyst Mark Murphy attributes Cornerstone OnDemand's in-line Q4 revenue and below-consensus revenue outlook to "below-trend billings and hiring for most of 2016." The company's revenue growth rates do not support its current valuation levels, Murphy tells investors in a post-earnings research note. He admits, however, that billings growth improved in Q4 from Q3 and that upside potential exists in an M&A scenario. The analyst maintains an Underweight rating on Cornerstone with a $25 price target.
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