Zendesk, Inc. (ZEN) Now Covered by Analysts at Evercore ISI
Analysts at Evercore ISI started coverage on shares of Zendesk, Inc. (NYSE:ZEN) in a research note issued to investors on Friday, The Fly reports. The brokerage set an “outperform” rating on the software maker’s stock.
Several other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Zendesk from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. BidaskClub downgraded shares of Zendesk from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 29th. Stifel Nicolaus reiterated a “hold” rating on shares of Zendesk in a report on Friday, July 21st. KeyCorp reiterated a “buy” rating and set a $35.00 price target on shares of Zendesk in a report on Friday, August 4th. Finally, Piper Jaffray Companies set a $33.00 price target on shares of Zendesk and gave the company a “buy” rating in a report on Saturday, August 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $33.00.
Shares of Zendesk (NYSE ZEN) opened at 28.12 on Friday. The stock’s 50 day moving average is $27.88 and its 200-day moving average is $27.59. Zendesk has a 12-month low of $19.77 and a 12-month high of $31.36. The stock’s market capitalization is $2.83 billion.
Zendesk (NYSE:ZEN) last issued its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.06) by $0.20. The firm had revenue of $101.30 million for the quarter, compared to the consensus estimate of $99.47 million. Zendesk had a negative net margin of 29.34% and a negative return on equity of 32.10%. The business’s revenue for the quarter was up 36.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.06) earnings per share. On average, analysts expect that Zendesk will post ($0.17) earnings per share for the current year.
In other news, insider Adrian Mcdermott sold 1,766 shares of the company’s stock in a transaction that occurred on 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 owns 80,145 shares of the company’s stock, valued at approximately $2,212,803.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Elena Gomez sold 1,431 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $27.06, for a total transaction of $38,722.86. Following the completion of the sale, the chief financial officer now directly owns 6,157 shares of the company’s stock, valued at approximately $166,608.42. The disclosure for this sale can be found here. Insiders sold a total of 117,085 shares of company stock valued at $3,294,504 in the last ninety days. Corporate insiders own 5.30% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. purchased a new stake in shares of Zendesk in the 1st quarter worth approximately $103,000. Advisor Group Inc. lifted its position in shares of Zendesk by 44.3% in the 2nd quarter. Advisor Group Inc. now owns 3,701 shares of the software maker’s stock worth $103,000 after purchasing an additional 1,137 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Zendesk by 10.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,887 shares of the software maker’s stock worth $108,000 after purchasing an additional 352 shares during the period. Fortaleza Asset Management Inc. purchased a new stake in shares of Zendesk in the 2nd quarter worth approximately $115,000. Finally, Independent Portfolio Consultants Inc. purchased a new stake in shares of Zendesk in the 2nd quarter worth approximately $153,000. 96.06% of the stock is owned by hedge funds and other institutional investors.
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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