Zendesk (NYSE:ZEN)‘s stock had its “hold” rating reissued by Zacks Investment Research in a research report issued to clients and investors on Saturday.
According to Zacks, “Zendesk, Inc. is a software development company. It provides a software-as-a-service, or SaaS, customer service platform. The Company offers applications that allow clients to manage incoming support requests from end customers from any Internet connected computer. It provides customer service through its platform in approximately 40 languages to customers in various industries, such as business technology, telecommunications, education/non-profit, consumer technology, media/entertainment, and retail/ecommerce. Zendesk, Inc. is headquartered in San Francisco, California. “
Other research analysts have also issued reports about the company. Canaccord Genuity increased their price objective on Zendesk from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Royal Bank of Canada reiterated a “buy” rating and issued a $35.00 price objective on shares of Zendesk in a research report on Wednesday, October 18th. KeyCorp reiterated a “buy” rating and issued a $35.00 price objective on shares of Zendesk in a research report on Sunday, October 15th. Piper Jaffray Companies restated a “buy” rating and set a $42.00 price target on shares of Zendesk in a research note on Tuesday. Finally, UBS Group restated a “neutral” rating and set a $38.00 price target (up from $37.00) on shares of Zendesk in a research note on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. Zendesk currently has a consensus rating of “Buy” and an average price target of $35.71.
Zendesk (NYSE:ZEN) last issued its quarterly earnings data on Wednesday, November 1st. The software maker reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.04. The company had revenue of $112.79 million during the quarter, compared to analyst estimates of $109.19 million. Zendesk had a negative return on equity of 32.50% and a negative net margin of 27.43%. The firm’s revenue for the quarter was up 39.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.04) earnings per share. equities research analysts expect that Zendesk will post -1.03 EPS for the current year.
In other news, SVP John Geschke sold 10,000 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $37.27, for a total value of $372,700.00. Following the sale, the senior vice president now directly owns 16,795 shares in the company, valued at $625,949.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Adrian Mcdermott sold 1,593 shares of the stock in a transaction on Friday, January 19th. The shares were sold at an average price of $36.27, for a total value of $57,778.11. Following the completion of the sale, the insider now owns 81,081 shares in the company, valued at $2,940,807.87. The disclosure for this sale can be found here. Insiders have sold 167,426 shares of company stock worth $5,836,188 over the last 90 days. 5.30% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Zendesk by 54.9% in the second quarter. BlackRock Inc. now owns 8,835,508 shares of the software maker’s stock valued at $245,450,000 after acquiring an additional 3,133,287 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Zendesk by 10.9% in the second quarter. Vanguard Group Inc. now owns 7,365,549 shares of the software maker’s stock valued at $204,615,000 after acquiring an additional 721,652 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Zendesk in the second quarter valued at $137,975,000. Wasatch Advisors Inc. raised its stake in shares of Zendesk by 26.5% in the second quarter. Wasatch Advisors Inc. now owns 3,919,479 shares of the software maker’s stock valued at $108,883,000 after acquiring an additional 820,465 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Zendesk by 22.6% in the second quarter. State Street Corp now owns 1,813,976 shares of the software maker’s stock valued at $50,395,000 after acquiring an additional 334,769 shares in the last quarter. Institutional investors and hedge funds own 94.82% of the company’s stock.
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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.
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