Zendesk, Inc. (ZEN) Rating Reiterated by Stifel Nicolaus
Zendesk, Inc. (NYSE:ZEN)‘s stock had its “hold” rating reaffirmed by equities researchers at Stifel Nicolaus in a report issued on Friday.
A number of other research analysts also recently issued reports on ZEN. William Blair reissued an “outperform” rating on shares of Zendesk in a research note on Monday, April 3rd. Guggenheim started coverage on Zendesk in a research note on Wednesday, April 12th. They issued a “buy” rating on the stock. They noted that the move was a valuation call. Zacks Investment Research downgraded Zendesk from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 13th. UBS AG reissued a “buy” rating and issued a $38.00 price objective (up from $36.00) on shares of Zendesk in a research note on Friday, May 5th. Finally, BidaskClub downgraded Zendesk from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 29th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $33.00.
Shares of Zendesk (NYSE ZEN) traded down 0.14% during midday trading on Friday, hitting $29.16. The company’s stock had a trading volume of 583,336 shares. The company has a 50-day moving average price of $27.72 and a 200 day moving average price of $26.80. Zendesk has a 1-year low of $19.77 and a 1-year high of $31.88. The company’s market cap is $2.89 billion.
Zendesk (NYSE:ZEN) last announced its quarterly earnings data on Thursday, May 4th. The software maker reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. The company had revenue of $93.01 million for the quarter, compared to the consensus estimate of $92.46 million. Zendesk had a negative return on equity of 31.90% and a negative net margin of 30.79%. The firm’s revenue was up 35.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.08) EPS. On average, equities research analysts predict that Zendesk will post ($0.18) EPS for the current year.
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In related news, SVP John Geschke sold 8,334 shares of the business’s stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $30.06, for a total value of $250,520.04. Following the completion of the sale, the senior vice president now directly owns 16,380 shares of the company’s stock, valued at approximately $492,382.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Adrian Mcdermott sold 1,766 shares of the business’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $27.61, for a total value of $48,759.26. Following the completion of the sale, the insider now directly owns 80,145 shares of the company’s stock, valued at $2,212,803.45. The disclosure for this sale can be found here. Insiders sold a total of 138,709 shares of company stock valued at $3,766,897 over the last ninety days. 5.30% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. State Street Corp raised its stake in shares of Zendesk by 4.4% in the fourth quarter. State Street Corp now owns 1,429,403 shares of the software maker’s stock worth $30,304,000 after buying an additional 60,651 shares during the last quarter. Kornitzer Capital Management Inc. KS raised its stake in shares of Zendesk by 0.8% in the first quarter. Kornitzer Capital Management Inc. KS now owns 307,835 shares of the software maker’s stock worth $8,632,000 after buying an additional 2,380 shares in the last quarter. Engineers Gate Manager LP bought a new stake in shares of Zendesk during the first quarter worth approximately $369,000. Frontier Capital Management Co. LLC bought a new stake in shares of Zendesk during the first quarter worth approximately $10,543,000. Finally, Gilder Gagnon Howe & Co. LLC raised its stake in shares of Zendesk by 29.2% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 230,572 shares of the software maker’s stock worth $6,465,000 after buying an additional 52,169 shares in the last quarter. 91.85% of the stock is owned by institutional investors and hedge funds.
Zendesk Company Profile
Zendesk, Inc (Zendesk) is a software development company. The Zendesk family of products is built to work together to help organizations understand and manage customer relationships. All Zendesk products share a common interface and are being developed to support a shared services infrastructure and common customer data platform.
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