Why Cornerstone OnDemand Popped

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What: Shares of Cornerstone OnDemand (NAS: CSOD) have popped by north of 11% after the company reported record quarterly results.

So what: Revenue jumped 52% to a record $24 million, which resulted in an adjusted loss of $4.9 million, or $0.10 per share. Both of those figures were just about what investors were expecting. Gross profit rose 54% to reach a record $17.2 million.


Now what: First-quarter bookings also increased by 67%, representing a healthy sales pipeline for the company. That strength in bookings growth is helping to trigger some bullish analyst comments. Nomura Securities is maintaining its "buy" rating, saying the bookings came in above its estimates. Needham & Company is doing likewise, also citing the "impressive and accelerated bookings growth" as contributing to its own "buy" recommendation.

Interested in more info on Cornerstone OnDemand? Add it to your watchlist byclicking here.

At the time this article was published Fool contributorEvan Niuholds no position in any company mentioned.Click hereto see his holdings and a short bio. The Motley Fool has adisclosure policy. We Fools may not all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. Try any of our Foolish newsletter servicesfree for 30 days.

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