Zendesk, Inc. (NYSE:ZEN) had its target price raised by analysts at Morgan Stanley from $35.00 to $38.00 in a research report issued to clients and investors on Thursday. The firm presently has an “overweight” rating on the software maker’s stock. Morgan Stanley’s price objective would suggest a potential upside of 22.58% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. BidaskClub downgraded shares of Zendesk from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 10th. Wells Fargo & Company reissued an “outperform” rating and issued a $40.00 price target (up from $32.00) on shares of Zendesk in a report on Thursday. Zacks Investment Research raised shares of Zendesk from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research note on Thursday, October 5th. KeyCorp reaffirmed a “buy” rating and set a $35.00 price objective on shares of Zendesk in a research note on Sunday, October 15th. Finally, Piper Jaffray Companies set a $33.00 price objective on shares of Zendesk and gave the company a “buy” rating in a research note on Saturday, August 5th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and fourteen have given a buy rating to the stock. Zendesk has a consensus rating of “Buy” and an average target price of $33.80.

Zendesk (NYSE:ZEN) last issued its quarterly earnings results on Wednesday, November 1st. The software maker reported ($0.02) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.04. Zendesk had a negative net margin of 29.34% and a negative return on equity of 32.10%. The company had revenue of $112.79 million during the quarter, compared to the consensus estimate of $109.19 million. During the same period in the prior year, the company earned ($0.04) EPS. Zendesk’s revenue was up 39.7% on a year-over-year basis.

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In other news, Chairman Mikkel Svane sold 50,000 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $28.10, for a total value of $1,405,000.00. Following the transaction, the chairman now owns 1,730,990 shares in the company, valued at approximately $48,640,819. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Adrian Mcdermott sold 1,766 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $26.42, for a total value of $46,657.72. Following the completion of the transaction, the insider now owns 80,435 shares in the company, valued at approximately $2,125,092.70. The disclosure for this sale can be found here. Insiders sold a total of 85,823 shares of company stock worth $2,429,819 in the last quarter. 5.30% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Oppenheimer Asset Management Inc. acquired a new position in shares of Zendesk in the 1st quarter valued at about $103,000. Advisor Group Inc. increased its holdings 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 valued at $103,000 after purchasing an additional 1,137 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of Zendesk in the 3rd quarter valued at about $105,000. 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 valued at $108,000 after purchasing an additional 352 shares during the period. Finally, Fortaleza Asset Management Inc. acquired a new position in shares of Zendesk in the 2nd quarter valued at about $115,000. Institutional investors own 96.23% 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.

Analyst Recommendations for Zendesk (NYSE:ZEN)

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