Zendesk, Inc. (ZEN) Upgraded at Zacks Investment Research
Zendesk, Inc. (NYSE:ZEN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The firm presently has a $33.00 target price on the software maker’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 9.42% from the company’s current price.
According to Zacks, “Zendesk, Inc. is a software development company. It provides a software-as-a-service, or SaaS, customer service platform. The Company offers applications that allow clients to manage incoming support requests from end customers from any Internet connected computer. It provides customer service through its platform in approximately 40 languages to customers in various industries, such as business technology, telecommunications, education/non-profit, consumer technology, media/entertainment, and retail/ecommerce. Zendesk, Inc. is headquartered in San Francisco, California. “
A number of other research firms have also weighed in on ZEN. ValuEngine lowered Zendesk from a “hold” rating to a “sell” rating in a research note on Monday. Piper Jaffray Companies reiterated a “buy” rating and issued a $33.00 target price on shares of Zendesk in a research note on Tuesday, September 12th. Stifel Nicolaus reiterated a “hold” rating on shares of Zendesk in a research note on Friday, July 21st. KeyCorp reiterated a “buy” rating and issued a $35.00 target price on shares of Zendesk in a research note on Friday, August 4th. Finally, Evercore ISI began coverage on Zendesk in a research note on Friday, September 8th. They issued an “outperform” rating and a $34.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $33.18.
Zendesk (ZEN) opened at 30.09 on Thursday. The firm’s 50-day moving average is $28.08 and its 200-day moving average is $27.76. The stock’s market capitalization is $3.02 billion. Zendesk has a 12 month low of $19.77 and a 12 month high of $31.36.
Zendesk (NYSE:ZEN) last released its earnings results on Thursday, August 3rd. The software maker reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.20). Zendesk had a negative return on equity of 32.10% and a negative net margin of 29.34%. The business had revenue of $101.30 million during the quarter, compared to analysts’ expectations of $99.47 million. During the same quarter in the previous year, the business earned ($0.06) EPS. The business’s revenue for the quarter was up 36.5% on a year-over-year basis. On average, equities analysts expect that Zendesk will post ($0.17) earnings per share for the current fiscal year.
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In other news, insider Adrian Mcdermott sold 1,766 shares of the firm’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $29.11, for a total transaction of $51,408.26. Following the transaction, the insider now owns 80,290 shares in the company, valued at $2,337,241.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP John Geschke sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $29.02, for a total value of $145,100.00. Following the transaction, the senior vice president now owns 15,202 shares in the company, valued at approximately $441,162.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,315 shares of company stock worth $2,587,980. Insiders own 5.30% of the company’s stock.
Several institutional investors have recently made changes to their positions in ZEN. FMR LLC grew its stake in Zendesk by 2.0% in the second quarter. FMR LLC now owns 14,844,224 shares of the software maker’s stock valued at $412,372,000 after purchasing an additional 293,055 shares during the last quarter. BlackRock Inc. grew its stake in Zendesk by 54.9% in the second quarter. BlackRock Inc. now owns 8,835,508 shares of the software maker’s stock valued at $245,450,000 after purchasing an additional 3,133,287 shares during the last quarter. Vanguard Group Inc. grew its stake in Zendesk by 10.9% in the second quarter. Vanguard Group Inc. now owns 7,365,549 shares of the software maker’s stock valued at $204,615,000 after purchasing an additional 721,652 shares during the last quarter. Franklin Resources Inc. grew its stake in Zendesk by 1.6% in the second quarter. Franklin Resources Inc. now owns 5,119,444 shares of the software maker’s stock valued at $142,213,000 after purchasing an additional 79,039 shares during the last quarter. Finally, Janus Henderson Group PLC purchased a new position in Zendesk in the second quarter valued at about $137,975,000. Hedge funds and other institutional investors own 96.24% of the company’s stock.
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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