Zendesk Inc (ZEN) Receives Consensus Rating of “Buy” from Brokerages

Shares of Zendesk Inc (NYSE:ZEN) have been given a consensus recommendation of “Buy” by the nineteen analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $41.36.

Several research analysts recently commented on ZEN shares. Royal Bank of Canada reiterated a “buy” rating and issued a $35.00 price target on shares of Zendesk in a research report on Wednesday, October 18th. Zacks Investment Research lowered Zendesk from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. Wells Fargo & Co reiterated an “outperform” rating and issued a $40.00 price target (up previously from $32.00) on shares of Zendesk in a research report on Thursday, November 2nd. Stifel Nicolaus reiterated a “neutral” rating on shares of Zendesk in a research report on Friday, November 3rd. Finally, UBS Group reiterated a “neutral” rating and issued a $38.00 price target (up previously from $37.00) on shares of Zendesk in a research report on Thursday, November 9th.

In other Zendesk news, insider Adrian Mcdermott sold 1,679 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $34.39, for a total transaction of $57,740.81. Following the completion of the transaction, the insider now owns 80,837 shares in the company, valued at $2,779,984.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Elena Gomez sold 1,200 shares of the business’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 value of $40,392.00. Following the transaction, the chief financial officer now owns 2,535 shares of the company’s stock, valued at approximately $85,328.10. The disclosure for this sale can be found here. Insiders have sold 146,699 shares of company stock valued at $5,349,538 in the last 90 days. Company insiders own 5.30% of the company’s stock.

Several large investors have recently made changes to their positions in ZEN. Ameriprise Financial Inc. raised its stake in shares of Zendesk by 755.0% during the third quarter. Ameriprise Financial Inc. now owns 827,334 shares of the software maker’s stock valued at $24,083,000 after acquiring an additional 730,570 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Zendesk by 10.9% during 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. State Street Corp raised its stake in shares of Zendesk by 22.6% during 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. Alyeska Investment Group L.P. bought a new stake in shares of Zendesk during the third quarter valued at approximately $9,017,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Zendesk by 81.0% during the second quarter. Goldman Sachs Group Inc. now owns 610,445 shares of the software maker’s stock valued at $16,958,000 after acquiring an additional 273,116 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Shares of Zendesk (NYSE:ZEN) traded up $0.65 during trading on Tuesday, hitting $40.93. The stock had a trading volume of 223,495 shares, compared to its average volume of 980,892. The stock has a market capitalization of $3,968.93, a price-to-earnings ratio of -36.78 and a beta of 1.87. Zendesk has a 52-week low of $24.49 and a 52-week high of $42.35.

Zendesk (NYSE:ZEN) last issued its quarterly earnings data on Tuesday, February 6th. The software maker reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.03. The firm had revenue of $123.43 million during the quarter, compared to analyst estimates of $119.68 million. Zendesk had a negative return on equity of 32.88% and a negative net margin of 25.70%. The business’s quarterly revenue was up 39.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.04) earnings per share. equities research analysts expect that Zendesk will post -1 earnings per share for the current year.

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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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