Zendesk Sees Significant Growth in Short Interest (ZEN)
Zendesk (NYSE:ZEN) was the recipient of a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 1,327,764 shares, a growth of 44.4% from the July 15th total of 919,384 shares, American Banking and Market News reports. Based on an average daily volume of 190,383 shares, the short-interest ratio is currently 7.0 days. Approximately 4.4% of the company’s shares are short sold.
ZEN has been the subject of a number of recent research reports. Analysts at Credit Suisse reiterated a “neutral” rating on shares of Zendesk in a research note on Wednesday, August 6th. They now have a $19.00 price target on the stock, up previously from $17.00. Separately, analysts at Canaccord Genuity raised their price target on shares of Zendesk from $19.00 to $23.00 in a research note on Wednesday, August 6th. They now have a “buy” rating on the stock. Finally, analysts at Pacific Crest reiterated an “outperform” rating on shares of Zendesk in a research note on Wednesday, August 6th. They now have a $22.00 price target on the stock, up previously from $20.00. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Zendesk presently has a consensus rating of “Hold” and a consensus price target of $20.50.
Zendesk (NYSE:ZEN) opened at 25.20 on Wednesday. Zendesk has a 52 week low of $11.06 and a 52 week high of $25.44. The stock’s 50-day moving average is $18.59 and its 200-day moving average is $17.70. The company’s market cap is $1.802 billion.
Zendesk (NYSE:ZEN) last released its earnings data on Tuesday, August 5th. 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. On average, analysts predict that Zendesk will post $-0.70 earnings per share for the current fiscal year.
Zendesk, Inc is a software development company. The Company provides a software-as-a-service (NYSE:ZEN) customer service platform.
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