Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Cornerstone OnDemand
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 by clicking here.