Zendesk Reaches New 12-Month High on Strong Earnings (ZEN)
Zendesk (NYSE:ZEN)’s share price reached a new 52-week high on Wednesday following a stronger than expected earnings report, Analyst Ratings Network.com reports. The company traded as high as $20.50 and last traded at $18.95, with a volume of 451,639 shares traded. The stock had previously closed at $17.97.
The company reported ($0.16) earnings per share for the quarter, beating the analysts’ 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. Zendesk’s revenue was up 80.0% compared to the same quarter last year.
A number of research firms have recently commented on ZEN. Analysts at Canaccord Genuity raised their price target on shares of Zendesk from $19.00 to $23.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at Pacific Crest reiterated an “outperform” rating on shares of Zendesk in a research note on Wednesday. They now have a $22.00 price target on the stock, up previously from $20.00. Finally, 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. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $20.00.
The stock has a 50-day moving average of $17.19 and a 200-day moving average of $16.85. The company’s market cap is $1.334 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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