Zendesk (ZEN) Receives “Buy” Rating from Guggenheim

Zendesk (NYSE:ZEN)‘s stock had its “buy” rating restated by stock analysts at Guggenheim in a research note issued to investors on Wednesday. They presently have a $44.00 price objective on the software maker’s stock. Guggenheim’s price objective suggests a potential upside of 8.72% from the company’s current price.

A number of other equities research analysts also recently weighed in on ZEN. KeyCorp restated a “buy” rating and issued a $35.00 price target on shares of Zendesk in a research note on Sunday, October 15th. Royal Bank of Canada restated a “buy” rating and issued a $35.00 price target on shares of Zendesk in a research note on Wednesday, October 18th. Morgan Stanley raised their price target on shares of Zendesk from $33.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, October 23rd. Wells Fargo & Co restated an “outperform” rating and issued a $40.00 price target (up from $32.00) on shares of Zendesk in a research note on Thursday, November 2nd. Finally, Canaccord Genuity raised their price target on shares of Zendesk from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $40.31.

Shares of Zendesk (ZEN) traded up $2.04 during trading on Wednesday, reaching $40.47. 4,505,468 shares of the company’s stock were exchanged, compared to its average volume of 745,836. The firm has a market capitalization of $4,110.00, a P/E ratio of -36.79 and a beta of 1.87. Zendesk has a 12-month low of $24.30 and a 12-month high of $42.35.

Zendesk (NYSE:ZEN) last announced its quarterly earnings data on Tuesday, February 6th. The software maker reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.03. Zendesk had a negative net margin of 27.43% and a negative return on equity of 32.50%. The firm had revenue of $123.43 million for the quarter, compared to the consensus estimate of $119.68 million. During the same period in the prior year, the company posted ($0.04) earnings per share. The business’s revenue for the quarter was up 39.3% on a year-over-year basis. analysts expect that Zendesk will post -1.03 earnings per share for the current year.

In other Zendesk news, CFO Elena Gomez sold 1,200 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $33.66, for a total transaction of $40,392.00. Following the completion of the transaction, the chief financial officer now owns 2,535 shares in the company, valued at approximately $85,328.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Adrian Mcdermott sold 1,593 shares of the firm’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $36.27, for a total transaction of $57,778.11. Following the transaction, the insider now owns 81,081 shares of the company’s stock, valued at approximately $2,940,807.87. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,426 shares of company stock worth $3,543,308. 5.30% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in ZEN. Prudential Financial Inc. bought a new position in Zendesk during the 2nd quarter worth approximately $245,000. Principal Financial Group Inc. raised its holdings in Zendesk by 16.5% during the 2nd quarter. Principal Financial Group Inc. now owns 13,522 shares of the software maker’s stock worth $376,000 after purchasing an additional 1,917 shares during the last quarter. Teachers Advisors LLC raised its holdings in Zendesk by 24.5% during the 2nd quarter. Teachers Advisors LLC now owns 175,967 shares of the software maker’s stock worth $4,888,000 after purchasing an additional 34,599 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Zendesk by 125.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 96,764 shares of the software maker’s stock worth $2,687,000 after purchasing an additional 53,901 shares during the last quarter. Finally, New York State Common Retirement Fund raised its holdings in Zendesk by 3.7% during the 2nd quarter. New York State Common Retirement Fund now owns 103,900 shares of the software maker’s stock worth $2,886,000 after purchasing an additional 3,719 shares during the last quarter. Hedge funds and other institutional investors own 93.94% 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.

Analyst Recommendations for Zendesk (NYSE:ZEN)

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