Zendesk (ZEN) Hits New 1-Year High and Low at $60.26

Zendesk Inc (NYSE:ZEN)’s share price hit a new 52-week high and low during mid-day trading on Thursday . The company traded as low as $60.26 and last traded at $59.18, with a volume of 44662 shares traded. The stock had previously closed at $59.61.

Several brokerages recently commented on ZEN. Piper Jaffray Companies restated an “overweight” rating and set a $65.00 target price on shares of Zendesk in a research report on Wednesday, May 2nd. They noted that the move was a valuation call. KeyCorp restated an “overweight” rating and set a $53.00 target price (up previously from $43.00) on shares of Zendesk in a research report on Tuesday, March 13th. Morgan Stanley upped their target price on Zendesk from $48.00 to $57.00 and gave the company an “overweight” rating in a research report on Wednesday, May 2nd. Craig Hallum upped their target price on Zendesk from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 2nd. Finally, ValuEngine upgraded Zendesk from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $48.13.

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 company has a market capitalization of $5.95 billion, a price-to-earnings ratio of -57.50 and a beta of 1.55.

Zendesk (NYSE:ZEN) last posted its quarterly earnings results on Tuesday, May 1st. The software maker reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $126.76 million. equities research analysts predict that Zendesk Inc will post -0.97 EPS for the current year.

In related news, SVP John Geschke sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $56.56, for a total transaction of $254,520.00. Following the transaction, the senior vice president now directly owns 20,289 shares of the company’s stock, valued at approximately $1,147,545.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Jeffrey J. Titterton sold 3,541 shares of the company’s stock in a transaction that occurred on Thursday, May 17th. The stock was sold at an average price of $55.07, for a total value of $195,002.87. Following the transaction, the senior vice president now directly owns 8,152 shares in the company, valued at $448,930.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,887 shares of company stock worth $2,063,035. 4.70% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of ZEN. Pendal Group Ltd purchased a new stake in shares of Zendesk in the first quarter worth approximately $188,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Zendesk by 47.2% in the fourth 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 last quarter. First Mercantile Trust Co. purchased a new stake in shares of Zendesk in the fourth quarter worth approximately $210,000. Aperio Group LLC purchased a new stake in shares of Zendesk in the first quarter worth approximately $215,000. Finally, Zeke Capital Advisors LLC purchased a new stake in shares of Zendesk in the first quarter worth approximately $263,000. 93.96% of the stock is owned by hedge funds and other institutional investors.

About Zendesk

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.

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