Zendesk’s (ZEN) Buy Rating Reaffirmed at Royal Bank Of Canada
Zendesk, Inc. (NYSE:ZEN)‘s stock had its “buy” rating restated by Royal Bank Of Canada in a research note issued on Wednesday. They presently have a $35.00 target price on the software maker’s stock. Royal Bank Of Canada’s price objective suggests a potential upside of 16.20% from the stock’s previous close.
A number of other analysts have also weighed in on ZEN. BidaskClub lowered shares of Zendesk from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 10th. Zacks Investment Research raised shares of Zendesk from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. KeyCorp reaffirmed a “buy” rating and set a $35.00 target price on shares of Zendesk in a report on Sunday, October 15th. Piper Jaffray Companies set a $33.00 target price on shares of Zendesk and gave the stock a “buy” rating in a report on Saturday, August 5th. Finally, ValuEngine lowered shares of Zendesk from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and fourteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $32.86.
Shares of Zendesk (NYSE ZEN) traded up 0.93% on Wednesday, hitting $30.40. 39,094 shares of the stock traded hands. The stock’s market cap is $3.06 billion. The stock has a 50 day moving average price of $29.19 and a 200-day moving average price of $28.03. Zendesk has a 52 week low of $19.77 and a 52 week high of $31.95.
Zendesk (NYSE:ZEN) last announced its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.26) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.20). The business had revenue of $101.30 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 36.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.06) earnings per share. On average, equities research analysts forecast that Zendesk will post ($0.17) EPS for the current year.
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In other news, Director Caryn Marooney sold 1,693 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $30.10, for a total value of $50,959.30. Following the transaction, the director now owns 53,948 shares of the company’s stock, valued at approximately $1,623,834.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Adrian Mcdermott sold 1,767 shares of the stock in a transaction on Thursday, October 19th. The stock was sold at an average price of $30.10, for a total transaction of $53,186.70. Following the completion of the transaction, the insider now directly owns 80,726 shares in the company, valued at approximately $2,429,852.60. The disclosure for this sale can be found here. Insiders sold a total of 87,516 shares of company stock worth $2,480,779 in the last three months. Insiders own 5.30% of the company’s stock.
Several large investors have recently modified their holdings of the company. Principal Financial Group Inc. increased its holdings in shares of Zendesk by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 11,605 shares of the software maker’s stock worth $325,000 after buying an additional 283 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Zendesk by 3.8% in the 2nd quarter. Parallel Advisors LLC now owns 8,275 shares of the software maker’s stock worth $243,000 after buying an additional 300 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Zendesk by 8.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 3,998 shares of the software maker’s stock worth $111,000 after buying an additional 323 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings 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 buying an additional 352 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its holdings in shares of Zendesk by 3.1% in the 2nd quarter. Neuberger Berman Group LLC now owns 31,429 shares of the software maker’s stock worth $873,000 after buying an additional 950 shares during the last quarter. 95.97% of the stock is currently 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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