Zendesk (NYSE:ZEN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Sunday. The firm currently has a $41.00 target price on the software maker’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 10.60% from the company’s current price.
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. “
Several other equities research analysts have also weighed in on ZEN. Royal Bank of Canada reiterated a “buy” rating and issued a $42.00 target price on shares of Zendesk in a report on Wednesday. ValuEngine lowered shares of Zendesk from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. Canaccord Genuity raised their price objective on shares of Zendesk from $34.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. Morgan Stanley raised their price objective on shares of Zendesk from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, November 2nd. Finally, Stifel Nicolaus restated a “neutral” rating on shares of Zendesk in a report on Friday, November 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $35.07.
Zendesk (NYSE:ZEN) last posted its earnings results on Wednesday, November 1st. The software maker reported ($0.02) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.04. The company had revenue of $112.79 million for the quarter, compared to analyst estimates of $109.19 million. Zendesk had a negative net margin of 27.43% and a negative return on equity of 32.50%. The business’s revenue for the quarter was up 39.7% compared to the same quarter last year. During the same period last year, the business posted ($0.04) earnings per share. equities analysts predict that Zendesk will post -1.03 earnings per share for the current fiscal year.
In related news, SVP John Geschke sold 787 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $35.05, for a total value of $27,584.35. Following the completion of the transaction, the senior vice president now owns 12,582 shares of the company’s stock, valued at $440,999.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Adrian Mcdermott sold 1,353 shares of the firm’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $34.19, for a total transaction of $46,259.07. Following the completion of the transaction, the insider now directly owns 80,948 shares of the company’s stock, valued at approximately $2,767,612.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 165,833 shares of company stock worth $5,778,410. 5.30% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. grew its position in Zendesk by 8.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 3,998 shares of the software maker’s stock valued at $111,000 after purchasing an additional 323 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Zendesk by 10.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,887 shares of the software maker’s stock valued at $108,000 after acquiring an additional 352 shares during the period. Advisor Group Inc. grew its position in shares of Zendesk by 44.3% in the 2nd quarter. Advisor Group Inc. now owns 3,701 shares of the software maker’s stock valued at $103,000 after acquiring an additional 1,137 shares during the period. Ameritas Investment Partners Inc. grew its position in shares of Zendesk by 21.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,533 shares of the software maker’s stock valued at $237,000 after acquiring an additional 1,521 shares during the period. Finally, Royal Bank of Canada grew its position in shares of Zendesk by 4.3% in the 2nd quarter. Royal Bank of Canada now owns 39,323 shares of the software maker’s stock valued at $1,093,000 after acquiring an additional 1,605 shares during the period. 95.67% of the stock is owned by institutional investors and hedge funds.
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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