Zendesk (NYSE:ZEN)‘s stock had its “buy” rating restated by equities researchers at Craig Hallum in a note issued to investors on Wednesday, The Fly reports. They currently have a $45.00 target price on the software maker’s stock, up from their previous target price of $37.00. Craig Hallum’s target price would indicate a potential upside of 16.88% from the stock’s previous close.

Several other research analysts have also issued reports on ZEN. KeyCorp reiterated a “buy” rating and issued a $35.00 target price on shares of Zendesk in a research report on Sunday, October 15th. Royal Bank of Canada reiterated a “buy” rating and issued a $35.00 target price on shares of Zendesk in a research report on Wednesday, October 18th. Morgan Stanley upped their target price on shares of Zendesk from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, October 23rd. Wells Fargo & Co reiterated an “outperform” rating and issued a $40.00 target price (up from $32.00) on shares of Zendesk in a research report on Thursday, November 2nd. Finally, Canaccord Genuity upped their target price on shares of Zendesk from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $40.31.

Zendesk (NYSE ZEN) opened at $38.50 on Wednesday. The firm has a market cap of $3,900.92, a price-to-earnings ratio of -34.68 and a beta of 1.87. Zendesk has a 1-year low of $24.49 and a 1-year high of $42.35.

Zendesk (NYSE:ZEN) last announced its earnings results on Tuesday, February 6th. The software maker reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.03. Zendesk had a negative net margin of 25.70% and a negative return on equity of 32.88%. The company had revenue of $123.43 million during the quarter, compared to analyst estimates of $119.68 million. During the same period in the previous year, the business earned ($0.04) earnings per share. The firm’s quarterly revenue was up 39.3% compared to the same quarter last year. equities analysts predict that Zendesk will post -1.07 earnings per share for the current fiscal year.

In other Zendesk news, SVP John Geschke sold 9,727 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $35.09, for a total transaction of $341,320.43. Following the completion of the sale, the senior vice president now directly owns 16,195 shares in the company, valued at $568,282.55. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Mikkel Svane sold 50,000 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $34.31, for a total transaction of $1,715,500.00. Following the sale, the chairman now owns 1,734,891 shares of the company’s stock, valued at $59,524,110.21. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,426 shares of company stock valued at $3,543,308. Company insiders own 5.30% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Canada Pension Plan Investment Board purchased a new stake in Zendesk during the third quarter valued at about $105,000. Advisor Group Inc. boosted its holdings in shares of Zendesk by 44.3% during the second quarter. Advisor Group Inc. now owns 3,701 shares of the software maker’s stock worth $103,000 after purchasing an additional 1,137 shares during the period. Cerebellum GP LLC purchased a new stake in shares of Zendesk during the fourth quarter worth about $132,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Zendesk by 47.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,723 shares of the software maker’s stock worth $194,000 after purchasing an additional 1,836 shares during the period. Finally, First Mercantile Trust Co. purchased a new stake in shares of Zendesk during the fourth quarter worth about $210,000. Institutional investors and hedge funds own 93.94% of the company’s stock.

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About Zendesk

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.

The Fly

Analyst Recommendations for Zendesk (NYSE:ZEN)

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