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Fly News Breaks for February 25, 2020
CSOD
Feb 25, 2020 | 06:23 EDT
RBC Capital analyst Alex Zukin downgraded Cornerstone OnDemand to Sector Perform from Outperform with a price target of $50, down from $69. The analyst notes that the company's Q4 results were mixed as top-line and forward looking metrics fell short of expectations, even though "meaningful" cost reduction drove outperformance in operating margins and free cash flow. Zukin believes that a neutral stance for Cornerstone OnDemand is warranted amid elevated execution risk.