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Fly News Breaks for March 7, 2017
CSOD
Mar 7, 2017 | 06:33 EDT
BofA/Merrill analyst Brad Sills downgraded Cornerstone OnDemand to Neutral and lowered its price target to $46 from $48 due to slowing growth. The analyst said slowing growth is not due to competition but from slower adoption of management adoption. Sills expects Cornerstone to win a majority of Learning Management Systems migrations/displacements but said with a 1.8% operating margin in 2016 and increased competition from HR platform vendors, it will be difficult for meaningful margin growth.
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