Zendesk Inc (ZEN) Given Average Recommendation of “Buy” by Brokerages

Shares of Zendesk Inc (NYSE:ZEN) have earned a consensus recommendation of “Buy” from the seventeen ratings firms that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $35.00.

ZEN has been the subject of several recent research reports. Royal Bank of Canada reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Zendesk in a research note on Wednesday, October 18th. Zacks Investment Research downgraded Zendesk from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $40.00 price objective (up previously from $32.00) on shares of Zendesk in a research note on Thursday, November 2nd. Stifel Nicolaus reaffirmed a “neutral” rating on shares of Zendesk in a research note on Friday, November 3rd. Finally, Stephens downgraded Zendesk from an “equal weight” rating to an “underweight” rating and set a $25.00 price objective for the company. in a research note on Monday, October 9th.

Zendesk (ZEN) traded down $0.11 during trading on Friday, hitting $36.38. The stock had a trading volume of 604,800 shares, compared to its average volume of 756,183. Zendesk has a one year low of $22.88 and a one year high of $38.83. The firm has a market capitalization of $3,690.00, a P/E ratio of -33.07 and a beta of 1.83.

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 Thomson Reuters’ consensus estimate of ($0.06) by $0.04. Zendesk had a negative return on equity of 32.50% and a negative net margin of 27.43%. The company had revenue of $112.79 million during the quarter, compared to the consensus estimate of $109.19 million. During the same quarter in the prior year, the firm posted ($0.04) earnings per share. The firm’s revenue was up 39.7% compared to the same quarter last year. analysts forecast that Zendesk will post -1.03 EPS for the current fiscal year.

In other Zendesk news, SVP John Geschke sold 30,200 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $34.36, for a total transaction of $1,037,672.00. Following the transaction, the senior vice president now directly owns 16,195 shares in the company, valued at approximately $556,460.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Elena Gomez sold 1,200 shares of the stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $33.66, for a total value of $40,392.00. Following the transaction, the chief financial officer now owns 2,535 shares in the company, valued at $85,328.10. The disclosure for this sale can be found here. Insiders sold 165,833 shares of company stock worth $5,778,410 over the last quarter. 5.30% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. boosted its holdings in shares of Zendesk by 6.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 487,367 shares of the software maker’s stock worth $16,493,000 after buying an additional 31,057 shares in the last quarter. Neuberger Berman Group LLC boosted its holdings in shares of Zendesk by 10.8% during the 3rd quarter. Neuberger Berman Group LLC now owns 34,821 shares of the software maker’s stock worth $1,014,000 after buying an additional 3,392 shares in the last quarter. California Public Employees Retirement System boosted its holdings in shares of Zendesk by 2.6% during the 3rd quarter. California Public Employees Retirement System now owns 110,600 shares of the software maker’s stock worth $3,220,000 after buying an additional 2,800 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Zendesk by 127.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 23,200 shares of the software maker’s stock worth $675,000 after buying an additional 13,000 shares in the last quarter. Finally, Granahan Investment Management Inc. MA bought a new position in shares of Zendesk during the 3rd quarter worth approximately $5,290,000. Hedge funds and other institutional investors own 95.67% of the company’s stock.

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About Zendesk

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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