Stifel Nicolaus Boosts Zendesk (ZEN) Price Target to $50.00

Zendesk (NYSE:ZEN) had its price target lifted by equities research analysts at Stifel Nicolaus from $45.00 to $50.00 in a note issued to investors on Friday. The firm currently has a “hold” rating on the software maker’s stock. Stifel Nicolaus’ price target would suggest a potential downside of 9.27% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Piper Jaffray reissued a “buy” rating and issued a $46.00 target price on shares of Zendesk in a research report on Wednesday, February 7th. Guggenheim reissued a “buy” rating and issued a $44.00 target price on shares of Zendesk in a research report on Wednesday, February 7th. Bank of America boosted their price target on Zendesk from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Craig Hallum restated a “buy” rating and set a $45.00 price target (up from $37.00) on shares of Zendesk in a research note on Wednesday, February 7th. Finally, Zacks Investment Research upgraded Zendesk from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Sunday, January 21st. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Zendesk presently has an average rating of “Buy” and a consensus price target of $47.31.

Shares of Zendesk opened at $55.11 on Friday, MarketBeat.com reports. Zendesk has a fifty-two week low of $54.22 and a fifty-two week high of $55.18. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $5.76 billion, a price-to-earnings ratio of -53.50 and a beta of 1.51.

Zendesk (NYSE:ZEN) last issued its earnings results on Tuesday, May 1st. The software maker reported ($0.24) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.29) by $0.05. Zendesk had a negative return on equity of 30.37% and a negative net margin of 24.18%. The business had revenue of $129.79 million during the quarter, compared to analyst estimates of $126.76 million. sell-side analysts forecast that Zendesk will post -0.97 earnings per share for the current year.

In related news, CFO Elena Gomez sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 27th. The stock was sold at an average price of $50.00, for a total transaction of $250,000.00. Following the completion of the transaction, the chief financial officer now directly owns 13,382 shares in the company, valued at approximately $669,100. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Adrian Mcdermott sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $43.54, for a total value of $1,741,600.00. Following the transaction, the insider now owns 121,465 shares of the company’s stock, valued at $5,288,586.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,771 shares of company stock valued at $2,870,582. 4.70% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Cerebellum GP LLC bought a new position in shares of Zendesk during the 4th quarter valued at approximately $132,000. Pendal Group Ltd bought a new position in Zendesk in the 1st quarter worth approximately $188,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Zendesk by 47.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,723 shares of the software maker’s stock worth $194,000 after purchasing an additional 1,836 shares during the period. First Mercantile Trust Co. bought a new position in Zendesk in the 4th quarter worth approximately $210,000. Finally, Aperio Group LLC bought a new position in Zendesk in the 1st quarter worth approximately $215,000. Institutional investors own 89.75% of the company’s stock.

Zendesk Company Profile

Zendesk, Inc, a software development company, provides SaaS products for organizations. Its flagship product is Zendesk Support, a system for tracking, prioritizing, and solving customer support tickets across various channels. The company also offers Zendesk Chat, a live chat software to connect with customers on Websites, in applications, and on mobile devices; Zendesk Talk, a cloud-based call center software; Zendesk Guide, a knowledge base that for customer self-service and support agent productivity; Zendesk Message, a customer messaging software; and Zendesk Explore that makes customer data accessible across an organization.

Analyst Recommendations for Zendesk (NYSE:ZEN)

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