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Fly News Breaks for August 6, 2019
CSOD
Aug 6, 2019 | 06:50 EDT
Shares of Cornerstone OnDemand have underperformed the sector year-to-date and last night's "mixed" Q2 earnings report is unlikely to change this trend, Barclays analyst Raimo Lenschow tells investors in a research note. He keeps an Underweight rating on the name with a $55 price target. While the adoption of Cornerstone's content offering continues to take shape, it is still in the early days, says the analyst. He expects any meaningful impact on sales to take a few quarters to show up in the numbers.
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