Zendesk, Inc. (ZEN) Downgraded to Sell at ValuEngine
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.
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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.
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