Zendesk, Inc. (ZEN) PT Raised to $36.00 at Canaccord Genuity
Zendesk, Inc. (NYSE:ZEN) had its price objective lifted by investment analysts at Canaccord Genuity from $34.00 to $36.00 in a report released on Thursday. The firm currently has a “buy” rating on the software maker’s stock. Canaccord Genuity’s target price would indicate a potential upside of 5.98% from the stock’s current price.
ZEN has been the subject of several other research reports. ValuEngine downgraded shares of Zendesk from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. Piper Jaffray Companies set a $33.00 price objective on shares of Zendesk and gave the company a “buy” rating in a research note on Saturday, August 5th. BidaskClub downgraded shares of Zendesk from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 10th. Zacks Investment Research downgraded shares of Zendesk from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Finally, KeyCorp reaffirmed a “buy” rating and set a $35.00 price objective on shares of Zendesk in a research note on Friday, August 25th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and fourteen have issued a buy rating to the stock. Zendesk has an average rating of “Buy” and an average target price of $33.80.
Shares of Zendesk (NYSE ZEN) traded down $0.38 during mid-day trading on Thursday, reaching $33.97. 1,890,000 shares of the company traded hands, compared to its average volume of 867,189. Zendesk has a 12-month low of $19.77 and a 12-month high of $35.00.
Zendesk (NYSE:ZEN) last announced its earnings results on Wednesday, November 1st. The software maker reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.04. Zendesk had a negative net margin of 27.43% and a negative return on equity of 32.55%. The firm had revenue of $112.79 million during the quarter, compared to the consensus estimate of $109.19 million. During the same quarter in the previous year, the company posted ($0.04) EPS. The firm’s revenue for the quarter was up 39.7% on a year-over-year basis. equities analysts expect that Zendesk will post -1.07 earnings per share for the current fiscal year.
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In other news, COO John T. Keiser sold 10,000 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $29.00, for a total transaction of $290,000.00. Following the completion of the sale, the chief operating officer now owns 15,606 shares in the company, valued at approximately $452,574. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mikkel Svane sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $28.10, for a total value of $1,405,000.00. Following the completion of the transaction, the chairman now owns 1,730,990 shares of the company’s stock, valued at approximately $48,640,819. The disclosure for this sale can be found here. Insiders have sold a total of 85,823 shares of company stock valued at $2,429,819 in the last quarter. Company insiders own 5.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in Zendesk by 2.0% in the 2nd quarter. FMR LLC now owns 14,844,224 shares of the software maker’s stock worth $412,372,000 after acquiring an additional 293,055 shares during the period. BlackRock Inc. boosted its holdings in Zendesk by 54.9% in the 2nd quarter. BlackRock Inc. now owns 8,835,508 shares of the software maker’s stock worth $245,450,000 after acquiring an additional 3,133,287 shares during the period. Vanguard Group Inc. boosted its holdings in Zendesk by 10.9% in the 2nd quarter. Vanguard Group Inc. now owns 7,365,549 shares of the software maker’s stock worth $204,615,000 after acquiring an additional 721,652 shares during the period. Franklin Resources Inc. boosted its holdings in Zendesk by 1.6% in the 2nd quarter. Franklin Resources Inc. now owns 5,119,444 shares of the software maker’s stock worth $142,213,000 after acquiring an additional 79,039 shares during the period. Finally, Janus Henderson Group PLC purchased a new position in Zendesk in the 2nd quarter worth approximately $137,975,000. Hedge funds and other institutional investors own 96.23% 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.
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