Kenexa’s stock is getting clobbered on Wall Street as its third-quarter sales were lower than expected.
Nate Swanson, of ThinkEquity Partners, says the problems aren’t “systemic” to the human-resources technology field, and that companies such as Taleo should be in good shape because even if there’s a recession, a big corporation is highly unlikely to suddenly shut down its “careers” page. Swanson also says Kenexa continues to have “an attractive business model.”
Says Swanson: “The revenue miss was due to three main factors: the loss of a large ($1.5M) contract, and lengthening sales cycles in the company’s EPO and assessments businesses.”
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