Zendesk, Inc. (ZEN) Lifted to “Buy” at Zacks Investment Research
Zendesk, Inc. (NYSE:ZEN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The brokerage currently has a $33.00 price target on the software maker’s stock. Zacks Investment Research‘s target price points to a potential upside of 9.42% from the stock’s previous close.
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. “
Several other equities research analysts have also recently weighed in on the company. BidaskClub cut Zendesk from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 29th. Stifel Nicolaus restated a “hold” rating on shares of Zendesk in a research note on Friday, July 21st. Piper Jaffray Companies restated a “buy” rating and set a $33.00 target price on shares of Zendesk in a research note on Tuesday, September 12th. ValuEngine upgraded Zendesk from a “sell” rating to a “hold” rating in a research note on Wednesday, September 13th. Finally, Evercore ISI started coverage on Zendesk in a research note on Friday, September 8th. They set an “outperform” rating and a $34.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $33.18.
Shares of Zendesk (NYSE ZEN) opened at 30.10 on Thursday. Zendesk has a 52-week low of $19.77 and a 52-week high of $31.36. The firm’s 50 day moving average is $28.08 and its 200 day moving average is $27.76. The stock’s market capitalization is $3.02 billion.
Zendesk (NYSE:ZEN) last posted its earnings results on Thursday, August 3rd. The software maker reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.20). The business had revenue of $101.30 million for the quarter, compared to analysts’ expectations of $99.47 million. Zendesk had a negative return on equity of 32.10% and a negative net margin of 29.34%. Zendesk’s revenue for the quarter was up 36.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.06) EPS. Equities analysts expect that Zendesk will post ($0.17) earnings per share for the current year.
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In other Zendesk news, CFO Elena Gomez sold 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $28.87, for a total value of $34,644.00. Following the completion of the sale, the chief financial officer now owns 3,620 shares in the company, valued at $104,509.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP John Geschke sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $29.02, for a total value of $145,100.00. Following the completion of the sale, the senior vice president now owns 15,202 shares of the company’s stock, valued at approximately $441,162.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,315 shares of company stock valued at $2,587,980. 5.30% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Oppenheimer Asset Management Inc. purchased a new stake in Zendesk in the first quarter valued at approximately $103,000. Advisor Group Inc. lifted its stake in Zendesk by 44.3% in the second quarter. Advisor Group Inc. now owns 3,701 shares of the software maker’s stock valued at $103,000 after buying an additional 1,137 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Zendesk by 10.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,887 shares of the software maker’s stock valued at $108,000 after buying an additional 352 shares during the last quarter. Fortaleza Asset Management Inc. purchased a new stake in Zendesk in the second quarter valued at approximately $115,000. Finally, Independent Portfolio Consultants Inc. purchased a new stake in Zendesk in the second quarter valued at approximately $153,000. Institutional investors own 96.24% of the company’s stock.
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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