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Zendesk (NYSE:ZEN) shares reached a new 52-week high during mid-day trading on Wednesday , ARN reports. The stock traded as high as $18.75 and last traded at $18.55, with a volume of 394,807 shares. The stock had previously closed at $16.50.

A number of research firms have recently commented on ZEN. Analysts at Pacific Crest initiated coverage on shares of Zendesk in a research note on Monday. They set an “outperform” rating and a $20.00 price target on the stock. Separately, analysts at Credit Suisse initiated coverage on shares of Zendesk in a research note on Monday. They set a “neutral” rating and a $17.00 price target on the stock. Finally, analysts at Morgan Stanley initiated coverage on shares of Zendesk in a research note on Monday. They set an “equal weight” rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Zendesk has an average rating of “Hold” and an average price target of $18.50.

The stock has a 50-day moving average of $16.16 and a 200-day moving average of $16.16. The company’s market cap is $1.298 billion.

Zendesk, Inc is a software development company. The Company provides a software-as-a-service (NYSE:ZEN) customer service platform.

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