Zacks Investment Research Reiterates “Hold” Rating for Zendesk (NYSE:ZEN)
Zendesk (NYSE:ZEN)‘s stock had its “hold” rating restated by Zacks Investment Research in a research report issued to clients and investors on Saturday, Zacks.com reports. They presently have a $82.00 price objective on the software maker’s stock. Zacks Investment Research‘s price target suggests a potential upside of 27.33% 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. “
A number of other analysts have also recently issued reports on the company. Compass Point began coverage on Zendesk in a research report on Tuesday, August 13th. They set a “buy” rating and a $100.00 price objective on the stock. ValuEngine cut Zendesk from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. Canaccord Genuity boosted their price objective on Zendesk from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. William Blair restated a “buy” rating on shares of Zendesk in a research report on Thursday, October 10th. Finally, KeyCorp reiterated a “buy” rating and issued a $108.00 price target (up from $102.00) on shares of Zendesk in a research report on Tuesday, July 30th. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Zendesk currently has a consensus rating of “Buy” and a consensus price target of $95.99.
Zendesk (NYSE:ZEN) last released its quarterly earnings data on Tuesday, July 30th. The software maker reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.33. The business had revenue of $194.58 million for the quarter, compared to analysts’ expectations of $192.47 million. Zendesk had a negative return on equity of 27.44% and a negative net margin of 23.70%. Zendesk’s quarterly revenue was up 37.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.03 earnings per share. As a group, equities research analysts forecast that Zendesk will post -1.1 earnings per share for the current fiscal year.
In other Zendesk news, CFO Elena Gomez sold 5,000 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $91.21, for a total value of $456,050.00. Following the transaction, the chief financial officer now owns 24,175 shares of the company’s stock, valued at $2,205,001.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP John Geschke sold 5,700 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $78.27, for a total value of $446,139.00. Following the completion of the transaction, the senior vice president now directly owns 26,814 shares in the company, valued at approximately $2,098,731.78. The disclosure for this sale can be found here. In the last three months, insiders sold 254,448 shares of company stock worth $19,736,265. Insiders own 4.60% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. boosted its stake in Zendesk by 29.6% in the third quarter. Envestnet Asset Management Inc. now owns 17,143 shares of the software maker’s stock worth $1,249,000 after purchasing an additional 3,915 shares in the last quarter. Capital Investment Advisory Services LLC lifted its stake in shares of Zendesk by 44.2% during the third quarter. Capital Investment Advisory Services LLC now owns 865 shares of the software maker’s stock valued at $63,000 after acquiring an additional 265 shares during the period. Peregrine Capital Management LLC lifted its stake in shares of Zendesk by 13.7% during the third quarter. Peregrine Capital Management LLC now owns 311,971 shares of the software maker’s stock valued at $22,736,000 after acquiring an additional 37,587 shares during the period. Selz Capital LLC acquired a new position in shares of Zendesk during the third quarter valued at $2,412,000. Finally, Bogart Wealth LLC acquired a new position in shares of Zendesk during the third quarter valued at $162,000. 92.76% of the stock is currently owned by institutional investors.
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, applications, and mobile devices; Zendesk Talk, a cloud-based call center software; Zendesk Guide, a knowledge base that powers customer self-service and support agent productivity; Zendesk Sell, a sales force automation software to enhance productivity, processes, and pipeline visibility for sales teams; Zendesk Connect that manages customer communication across channels; and Zendesk Explore, which provides analytics for businesses to measure and enhance the customer experience.
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