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Fly News Breaks for July 17, 2018
CSOD
Jul 17, 2018 | 06:07 EDT
Piper Jaffray analyst upgraded Alex Zukin upgraded Cornerstone OnDemand to Overweight and raised his price target for the shares to $60 from $46. Channel checks suggest that Cornerstone's bookings outperformed internal expectations in the quarter and second half of 2018 pipelines remain attractive from a strategic deal perspective, Zukin tells investors in a research note. Further, he notes that the shares are "trading more than a turn below" his "Efficient Growth comp group." The analyst likes the multi-quarter setup for the stock and sees the potential for shares to re-rate as investors start to "gain comfort that execution is truly turning a corner."
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