Zendesk, Inc. (ZEN) Cut to Hold at BidaskClub
Zendesk, Inc. (NYSE:ZEN) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
Other equities analysts have also issued research reports about the stock. UBS AG reiterated a “buy” rating and issued a $38.00 price objective (up previously from $36.00) on shares of Zendesk in a report on Friday, May 5th. Zacks Investment Research upgraded shares of Zendesk from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Piper Jaffray Companies set a $33.00 price objective on shares of Zendesk and gave the stock a “buy” rating in a report on Saturday, August 5th. Stifel Nicolaus reiterated a “hold” rating on shares of Zendesk in a report on Friday, July 21st. Finally, Guggenheim reiterated a “buy” rating and issued a $33.00 price objective on shares of Zendesk in a report on Tuesday, April 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $33.00.
Zendesk (NYSE:ZEN) opened at 27.13 on Wednesday. The company has a 50-day moving average price of $28.18 and a 200 day moving average price of $27.44. The stock’s market cap is $2.73 billion. Zendesk has a 12-month low of $19.77 and a 12-month high of $31.88.
Zendesk (NYSE:ZEN) last issued its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.20. Zendesk had a negative return on equity of 32.10% and a negative net margin of 29.34%. The firm had revenue of $101.30 million during the quarter, compared to analyst estimates of $99.47 million. During the same quarter in the prior year, the firm earned ($0.06) EPS. The business’s quarterly revenue was up 36.5% compared to the same quarter last year. On average, equities research analysts predict that Zendesk will post ($0.17) EPS for the current year.
In related news, CRO Bryan Cox sold 5,000 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $26.98, for a total transaction of $134,900.00. Following the completion of the sale, the executive now owns 19,743 shares of the company’s stock, valued at approximately $532,666.14. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Caryn Marooney sold 1,693 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $26.54, for a total transaction of $44,932.22. Following the sale, the director now directly owns 44,243 shares of the company’s stock, valued at approximately $1,174,209.22. The disclosure for this sale can be found here. Insiders sold a total of 149,870 shares of company stock valued at $4,126,305 in the last three months. Insiders own 5.30% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. acquired a new stake in shares of Zendesk during the first quarter worth $103,000. Advisor Group Inc. increased its stake in shares of Zendesk by 44.3% in the second quarter. Advisor Group Inc. now owns 3,701 shares of the software maker’s stock worth $103,000 after buying an additional 1,137 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Zendesk by 10.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,887 shares of the software maker’s stock worth $108,000 after buying an additional 352 shares in the last quarter. Fortaleza Asset Management Inc. acquired a new stake in shares of Zendesk during the second quarter worth $115,000. Finally, Independent Portfolio Consultants Inc. acquired a new stake in shares of Zendesk during the second quarter worth $153,000. 92.62% of the stock is owned by institutional investors and hedge funds.
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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