Zendesk Inc. (ZEN) Shares Up 2%
Zendesk Inc. (NYSE:ZEN)’s share price shot up 2% during trading on Thursday . The stock traded as high as $27.34 and last traded at $27.14, with a volume of 484,388 shares changing hands. The stock had previously closed at $26.62.
Several research firms have commented on ZEN. Morgan Stanley reissued an “overweight” rating and issued a $28.00 target price (up from $24.00) on shares of Zendesk in a report on Wednesday, May 4th. Zacks Investment Research raised Zendesk from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a report on Thursday. Piper Jaffray Cos. began coverage on Zendesk in a report on Tuesday, May 31st. They issued an “overweight” rating and a $35.00 target price for the company. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $29.00 target price (up from $23.00) on shares of Zendesk in a report on Tuesday, April 19th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $28.00 target price (up from $25.00) on shares of Zendesk in a report on Friday, May 6th. Seventeen analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and a consensus price target of $29.40.
The company’s 50-day moving average price is $26.12 and its 200 day moving average price is $22.64. The stock’s market cap is $2.49 billion.
Zendesk (NYSE:ZEN) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.02. The company earned $68.46 million during the quarter, compared to the consensus estimate of $63.94 million. The company’s quarterly revenue was up 62.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.10) earnings per share. Equities research analysts predict that Zendesk Inc. will post ($0.30) earnings per share for the current fiscal year.
In related news, SVP Adrian Mcdermott sold 1,625 shares of the business’s stock in a transaction that occurred on Wednesday, April 20th. The stock was sold at an average price of $22.18, for a total value of $36,042.50. Following the completion of the sale, the senior vice president now directly owns 85,152 shares in the company, valued at $1,888,671.36. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Alan J. Black sold 11,458 shares of the business’s stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $25.00, for a total value of $286,450.00. Following the completion of the sale, the chief financial officer now owns 98,850 shares of the company’s stock, valued at $2,471,250. The disclosure for this sale can be found here.
Other large investors recently modified their holdings of the company. Wells Fargo & Company MN boosted its stake in shares of Zendesk by 51.0% in the fourth quarter. Wells Fargo & Company MN now owns 1,604,904 shares of the company’s stock valued at $42,434,000 after buying an additional 541,977 shares during the period. Columbus Circle Investors purchased a new position in shares of Zendesk during the fourth quarter valued at approximately $26,517,000. Garelick Capital Partners LP purchased a new position in shares of Zendesk during the fourth quarter valued at approximately $3,255,000. EAM Investors LLC purchased a new position in shares of Zendesk during the fourth quarter valued at approximately $3,206,000. Finally, California State Teachers Retirement System increased its position in shares of Zendesk by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 99,604 shares of the company’s stock valued at $2,634,000 after buying an additional 1,553 shares in the last quarter.
Zendesk, Inc is a software development company. The Company provides software as a service (SaaS) customer service platform. The Company’s platform consolidates the data from customer interactions and provides organizations with analytics and performance benchmarking. The Company also provides SaaS live chat software that can be utilized independently to facilitate communications between organizations and their customers.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.