Zendesk Stock Price Up 2.9% on Strong Earnings (ZEN)
Zendesk (NYSE:ZEN)’s share price rose 2.9% during mid-day trading on Tuesday following a better than expected earnings announcement, Stock Ratings Network reports. The stock traded as high as $18.11 and last traded at $18.00, with a volume of 125,117 shares traded. The stock had previously closed at $17.50.
The company reported ($0.16) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.18) by $0.02. The company had revenue of $29.50 million for the quarter, compared to the consensus estimate of $25.93 million. The company’s quarterly revenue was up 80.0% on a year-over-year basis.
ZEN has been the subject of a number of recent research reports. Analysts at Pacific Crest initiated coverage on shares of Zendesk in a research note on Monday, June 9th. 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, June 9th. 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, June 9th. They set an “equal weight” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Zendesk presently has a consensus rating of “Hold” and a consensus price target of $18.50.
The stock has a 50-day moving average of $17.17 and a 200-day moving average of $16.83. The company’s market cap is $1.261 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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