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Short-Term Investor Stock CSOD Gains 13.9%

The stock, Cornerstone OnDemand Inc. (CSOD), featured on our 'Short-Term Investor' on November 8, 2018, at an opening price of $52.85. On February 12, 2019, the stock touched an intra-day high of $60.19, representing a gain of 13.9%. On July 15, 2019, the stock touched a new 52-week high of $62.66, and closed Friday's trade at $55.06.

Why we published this stock?

Human capital management software provider Cornerstone OnDemand Inc. (CSOD) issued strong Q4, FY18 guidance, and reported upbeat Q3 profit.

Q4, FY18 Guidance

The company projected fourth quarter revenue in a range between $128.0 million and $131.0 million, representing year-over-year growth at the mid-point of (2)%, or 0% on a constant currency basis. Nine Wall Street analysts then had a consensus revenue estimate of $128.33 million for the quarter.

For the year ending December 31, 2018, Cornerstone expected revenue between $528.0 million and $531.0 million, representing year-over-year growth at the mid-point of 10%, or 9% on a constant currency basis. Analysts then estimated revenue of $524.21 million for 2018.

Q3 Results

The company's Q3 net loss, under ASC 606, was $2.4 million, or a $0.04 loss per share. Under ASC 605, Net loss for the quarter was $1.7 million, or $0.03 per share, compared to a loss of $14.9 million, or a $0.26 per share, in the prior year period.

Non-GAAP net income, under ASC 606, for the third quarter of 2018 was $14.8 million, or a $0.23 per share. Under ASC 605, Non-GAAP net income was $15.5 million, or $0.24 per share, compared to $7.3 million, or a $0.12 per share last year.

Analysts polled by Thomson Reuters expected earnings of $0.18 per share. Analysts' estimate typically exclude certain special items.

Revenue for the third quarter of 2018 was $134.0 million compared to a guided range of $129.0 million to $131.0 million. Under ASC 605, Q3 revenue totaled $133.7 million, representing a 9.7% increase compared to the prior year. Revenue growth on a constant currency basis was 9.9%.

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