Zendesk, Inc. (ZEN) Rating Reiterated by Wells Fargo & Company
Zendesk, Inc. (NYSE:ZEN)‘s stock had its “outperform” rating restated by Wells Fargo & Company in a report released on Thursday, The Fly reports. They presently have a $40.00 price objective on the software maker’s stock, up from their previous price objective of $32.00. Wells Fargo & Company’s price objective would indicate a potential upside of 29.03% from the company’s current price.
ZEN has been the topic of several other reports. ValuEngine cut Zendesk from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Piper Jaffray Companies set a $33.00 price target on Zendesk and gave the company a “buy” rating in a report on Saturday, August 5th. BidaskClub cut Zendesk from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 10th. Zacks Investment Research cut Zendesk from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Finally, KeyCorp reissued a “buy” rating and set a $35.00 price target on shares of Zendesk in a report on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $33.33.
Zendesk (NYSE:ZEN) last released its quarterly earnings data on Wednesday, November 1st. The software maker reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.04. The business had revenue of $112.79 million for the quarter, compared to analysts’ expectations of $109.19 million. Zendesk had a negative return on equity of 32.10% and a negative net margin of 29.34%. The firm’s quarterly revenue was up 39.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.04) EPS.
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In other news, Chairman Mikkel Svane sold 50,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chairman now directly owns 1,730,990 shares in the company, valued at approximately $48,640,819. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John T. Keiser sold 10,000 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $29.00, for a total value of $290,000.00. Following the completion of the sale, the chief operating officer now owns 15,606 shares of the company’s stock, valued at $452,574. The disclosure for this sale can be found here. Insiders sold a total of 85,823 shares of company stock valued at $2,429,819 over the last 90 days. 5.30% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board purchased a new stake in shares of Zendesk in the 3rd quarter worth $105,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Zendesk in the 1st quarter worth $103,000. Advisor Group Inc. increased its stake 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake 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 in the last quarter. Finally, Fortaleza Asset Management Inc. purchased a new stake in shares of Zendesk in the 2nd quarter worth $115,000. Hedge funds and other institutional investors own 96.23% of the company’s stock.
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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