Zendesk, Inc. (ZEN) Given Average Rating of “Buy” by Brokerages
Shares of Zendesk, Inc. (NYSE:ZEN) have earned an average recommendation of “Buy” from the sixteen research firms that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $32.73.
A number of equities research analysts have recently issued reports on ZEN shares. Evercore ISI started coverage on Zendesk in a report on Friday, September 8th. They set an “outperform” rating and a $34.00 price objective for the company. Zacks Investment Research cut Zendesk from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. KeyCorp restated a “buy” rating and set a $35.00 price objective on shares of Zendesk in a report on Friday, August 4th. Stifel Nicolaus restated a “hold” rating on shares of Zendesk in a report on Friday, July 21st. Finally, BidaskClub cut Zendesk from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 29th.
In related news, insider Adrian Mcdermott sold 1,766 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $29.11, for a total value of $51,408.26. Following the completion of the sale, the insider now directly owns 80,290 shares in the company, valued at $2,337,241.90. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CRO Bryan Cox sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $26.98, for a total value of $134,900.00. Following the completion of the sale, the executive now owns 19,743 shares of the company’s stock, valued at $532,666.14. The disclosure for this sale can be found here. Over the last quarter, insiders sold 91,315 shares of company stock valued at $2,587,980. 5.30% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of ZEN. Goldman Sachs Group Inc. lifted its stake in Zendesk by 28.7% during the first quarter. Goldman Sachs Group Inc. now owns 337,329 shares of the software maker’s stock worth $9,458,000 after purchasing an additional 75,286 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in Zendesk during the second quarter worth $216,000. Morgan Stanley lifted its stake in Zendesk by 3.1% during the first quarter. Morgan Stanley now owns 1,141,934 shares of the software maker’s stock worth $32,020,000 after purchasing an additional 34,621 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Zendesk by 77.9% during the second quarter. JPMorgan Chase & Co. now owns 2,110,503 shares of the software maker’s stock worth $58,629,000 after purchasing an additional 923,875 shares during the last quarter. Finally, Legato Capital Management LLC bought a new stake in Zendesk during the second quarter worth $492,000. Institutional investors and hedge funds own 96.24% of the company’s stock.
Shares of Zendesk (ZEN) traded down 1.241% during mid-day trading on Wednesday, hitting $29.055. The company’s stock had a trading volume of 354,886 shares. The company’s market cap is $2.92 billion. Zendesk has a 1-year low of $19.77 and a 1-year high of $31.36. The company has a 50-day moving average of $28.46 and a 200 day moving average of $27.86.
Zendesk (NYSE:ZEN) last issued its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.26) earnings per share (EPS) 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 firm had revenue of $101.30 million for the quarter, compared to the consensus estimate of $99.47 million. During the same quarter in the prior year, the firm earned ($0.06) EPS. The company’s revenue was up 36.5% on a year-over-year basis. On average, analysts expect that Zendesk will post ($0.17) EPS for the current year.
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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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