Zendesk Inc. (ZEN) Hits New 12-Month High at $28.05
Shares of Zendesk Inc. (NYSE:ZEN) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $28.05 and last traded at $28.05, with a volume of 730,156 shares. The stock had previously closed at $27.14.
A number of research firms recently issued reports on ZEN. Canaccord Genuity reissued a “buy” rating on shares of Zendesk in a research report on Friday, June 10th. Zacks Investment Research raised shares of Zendesk from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Thursday. Piper Jaffray Cos. began coverage on shares of Zendesk in a research report on Tuesday, May 31st. They set an “overweight” rating and a $35.00 target price for the company. Rosenblatt Securities reissued a “buy” rating and set a $28.00 target price (up previously from $25.00) on shares of Zendesk in a research report on Friday, May 6th. Finally, Morgan Stanley reissued an “overweight” rating and set a $28.00 target price (up previously from $24.00) on shares of Zendesk in a research report on Wednesday, May 4th. Seventeen investment analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average price target of $29.40.
The company’s 50-day moving average is $26.26 and its 200-day moving average is $22.66. The firm’s market capitalization is $2.59 billion.
Zendesk (NYSE:ZEN) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported ($0.08) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.02. During the same quarter in the previous year, the business posted ($0.10) earnings per share. The business had revenue of $68.46 million for the quarter, compared to analyst estimates of $63.94 million. The company’s revenue was up 62.1% compared to the same quarter last year. On average, equities analysts anticipate that Zendesk Inc. will post ($0.30) earnings per share for the current year.
In other news, CFO Alan J. Black sold 11,458 shares of Zendesk stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $25.00, for a total transaction of $286,450.00. Following the completion of the sale, the chief financial officer now directly owns 98,850 shares in the company, valued at approximately $2,471,250. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Adrian Mcdermott sold 1,625 shares of Zendesk stock in a transaction dated Wednesday, April 20th. The shares were sold at an average price of $22.18, for a total value of $36,042.50. Following the sale, the senior vice president now owns 85,152 shares of the company’s stock, valued at $1,888,671.36. The disclosure for this sale can be found here.
Several large investors have recently made changes to their positions in ZEN. UBS Oconnor LLC purchased a new stake in shares of Zendesk during the fourth quarter valued at about $1,322,000. New York State Common Retirement Fund raised its stake in shares of Zendesk by 5.9% in the fourth quarter. New York State Common Retirement Fund now owns 51,900 shares of the company’s stock valued at $1,372,000 after buying an additional 2,900 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Zendesk by 11.6% in the fourth quarter. Rhumbline Advisers now owns 52,413 shares of the company’s stock valued at $1,386,000 after buying an additional 5,445 shares in the last quarter. Oxford Asset Management purchased a new stake in shares of Zendesk during the fourth quarter valued at about $1,396,000. Finally, First Trust Advisors LP purchased a new stake in shares of Zendesk during the fourth quarter valued at about $1,695,000.
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.