Zendesk Inc (ZEN) Receives $32.40 Consensus Target Price from Analysts

Zendesk Inc (NYSE:ZEN) has been assigned a consensus rating of “Buy” from the fifteen research firms that are presently covering the firm. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $32.80.

Several research analysts recently commented on the company. Zacks Investment Research cut Zendesk from a “hold” rating to a “sell” rating in a research report on Wednesday, May 10th. Guggenheim reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Zendesk in a research report on Tuesday, April 18th. William Blair reaffirmed an “outperform” rating on shares of Zendesk in a research report on Monday, April 3rd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Zendesk in a research report on Wednesday, March 8th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Zendesk in a research report on Friday, February 24th.

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In other news, Director Caryn Marooney sold 1,693 shares of the business’s stock in a transaction dated Thursday, March 30th. The stock was sold at an average price of $27.78, for a total value of $47,031.54. Following the transaction, the director now directly owns 37,170 shares of the company’s stock, valued at approximately $1,032,582.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John Geschke sold 8,334 shares of the business’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $30.06, for a total value of $250,520.04. Following the completion of the transaction, the senior vice president now directly owns 16,380 shares in the company, valued at $492,382.80. The disclosure for this sale can be found here. Insiders have sold a total of 92,174 shares of company stock worth $2,489,736 in the last 90 days. 17.00% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the company. BlackRock Fund Advisors raised its stake in shares of Zendesk by 6.2% in the third quarter. BlackRock Fund Advisors now owns 2,184,159 shares of the software maker’s stock worth $67,076,000 after buying an additional 126,562 shares in the last quarter. BlackRock Inc. raised its stake in shares of Zendesk by 1.7% in the third quarter. BlackRock Inc. now owns 7,809 shares of the software maker’s stock worth $240,000 after buying an additional 134 shares in the last quarter. BlackRock Investment Management LLC raised its stake in shares of Zendesk by 0.8% in the third quarter. BlackRock Investment Management LLC now owns 305,153 shares of the software maker’s stock worth $9,371,000 after buying an additional 2,427 shares in the last quarter. Airain ltd acquired a new position in Zendesk during the third quarter valued at about $322,000. Finally, Swiss National Bank raised its position in Zendesk by 0.8% in the third quarter. Swiss National Bank now owns 118,752 shares of the software maker’s stock valued at $3,647,000 after buying an additional 1,000 shares in the last quarter. 87.19% of the stock is owned by hedge funds and other institutional investors.

Zendesk (NYSE:ZEN) opened at 24.89 on Monday. Zendesk has a 12-month low of $19.77 and a 12-month high of $31.88. The stock’s market cap is $2.46 billion. The company has a 50-day moving average of $27.71 and a 200 day moving average of $25.28.

Zendesk (NYSE:ZEN) last posted its quarterly earnings data on Thursday, May 4th. The software maker reported ($0.05) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.01. The business had revenue of $93.01 million during the quarter, compared to the consensus estimate of $92.46 million. Zendesk had a negative return on equity of 32.71% and a negative net margin of 33.27%. Zendesk’s quarterly revenue was up 35.9% on a year-over-year basis. During the same period last year, the company earned ($0.08) earnings per share. Equities analysts anticipate that Zendesk will post ($0.18) earnings per share for the current year.

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.

12 Month Chart for NYSE:ZEN

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