ValuEngine cut shares of Zendesk, Inc. (NYSE:ZEN) from a hold rating to a sell rating in a research report released on Monday.

ZEN has been the subject of several other reports. Piper Jaffray Companies set a $33.00 target price on Zendesk and gave the company a buy rating in a report on Saturday, August 5th. BidaskClub cut Zendesk from a strong-buy rating to a buy rating in a report on Thursday, August 10th. Zacks Investment Research cut Zendesk from a hold rating to a sell rating in a report on Wednesday, August 9th. KeyCorp restated a buy rating and issued a $35.00 target price on shares of Zendesk in a report on Friday, August 25th. Finally, Stifel Nicolaus restated a hold rating on shares of Zendesk in a report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $33.18.

Zendesk (NYSE ZEN) opened at 30.45 on Monday. Zendesk has a 1-year low of $19.77 and a 1-year high of $31.36. The stock’s market capitalization is $3.06 billion. The firm’s 50-day moving average is $28.17 and its 200 day moving average is $27.78.

Zendesk (NYSE:ZEN) last issued its earnings results on Thursday, August 3rd. The software maker reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.20). The company had revenue of $101.30 million during the quarter, compared to analysts’ expectations of $99.47 million. Zendesk had a negative net margin of 29.34% and a negative return on equity of 32.10%. The firm’s quarterly revenue was up 36.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.06) earnings per share. Equities analysts anticipate that Zendesk will post ($0.17) EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This news story was first posted by Watch List News and is the sole property of of Watch List News. If you are viewing this news story on another domain, it was illegally stolen and reposted in violation of US and international copyright and trademark legislation. The correct version of this news story can be accessed at https://www.watchlistnews.com/zendesk-inc-zen-downgraded-to-sell-at-valuengine/1611549.html.

In other news, Chairman Mikkel Svane sold 50,000 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $28.10, for a total transaction of $1,405,000.00. Following the completion of the transaction, the chairman now directly owns 1,730,990 shares in the company, valued at approximately $48,640,819. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Adrian Mcdermott sold 1,766 shares of the stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $28.87, for a total value of $50,984.42. Following the transaction, the insider now owns 80,581 shares of the company’s stock, valued at $2,326,373.47. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,315 shares of company stock valued at $2,587,980. Company insiders own 5.30% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wasatch Advisors Inc. boosted its holdings in Zendesk by 26.5% during the 2nd quarter. Wasatch Advisors Inc. now owns 3,919,479 shares of the software maker’s stock valued at $108,883,000 after acquiring an additional 820,465 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in Zendesk by 54.2% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 110,492 shares of the software maker’s stock valued at $3,069,000 after acquiring an additional 38,859 shares during the period. Verition Fund Management LLC purchased a new position in Zendesk during the 2nd quarter valued at about $278,000. Crosslink Capital Inc. boosted its holdings in Zendesk by 934.6% during the 2nd quarter. Crosslink Capital Inc. now owns 788,714 shares of the software maker’s stock valued at $21,910,000 after acquiring an additional 712,480 shares during the period. Finally, Ameritas Investment Partners Inc. boosted its holdings in Zendesk by 21.7% during 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. Institutional investors and hedge funds own 96.24% of the company’s stock.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Zendesk (NYSE:ZEN)

Receive News & Ratings for Zendesk Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zendesk Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.