Cornerstone OnDemand’s SaaS Multiple Post-Saba Synergies Pushes our Docebo Target Price Higher Docebo ($DCBO.TO) reported Q2/20 results that were better than we expected. After Q1/20 results saw the company’s Annual Recurring Revenue (ARR) / S&M drop from 1.2x to 0.83x, we were concerned that selling their relatively expensive solution was becoming more difficult. This quarter not only did the ratio remain steady at 0.83x, but Cornerstone OnDemand’s ($CSOD) updated run-rate synergies expected from their acquisition of Saba Software has continued to improve.
CSOD
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We have launched coverage of 14 additional enterprise software companies. Our models use a combination of SaaS metrics and non-GAAP financials to predict the current stock price. The relationship with our Enterprise focused model and the current stock prices (adjusted r-square) is 0.87 and for companies with an SMB/Entrepreneur focus our model has an adjusted r-square of 0.68. The performance of these stocks will be tracked in the Perspectec General Portfolio. In addition, we are moving Salesforce.com (CRM) from our Focused Portfolio to our General.Portfolio, due to a change in associate coverage. With this launch, we have published our Enterprise […]