Zendesk Inc. (ZEN) Shares Down 3.7%
Zendesk Inc. (NYSE:ZEN) traded down 3.7% during mid-day trading on Thursday . The company traded as low as $27.81 and last traded at $27.91, with a volume of 285,402 shares trading hands. The stock had previously closed at $28.98.
A number of equities research analysts have recently issued reports on the company. Morgan Stanley reiterated a “buy” rating on shares of Zendesk in a research note on Sunday, July 17th. Piper Jaffray Cos. assumed coverage on Zendesk in a research note on Tuesday, May 31st. They issued an “overweight” rating and a $35.00 target price for the company. Zacks Investment Research upgraded Zendesk from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Thursday, July 7th. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $29.00 target price (up previously from $23.00) on shares of Zendesk in a research note on Tuesday, April 19th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $28.00 target price (up previously from $25.00) on shares of Zendesk in a research note on Friday, May 6th. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Zendesk has a consensus rating of “Buy” and an average price target of $30.56.
The company’s market cap is $2.58 billion. The stock has a 50 day moving average of $27.35 and a 200 day moving average of $22.88.
Zendesk (NYSE:ZEN) last announced its quarterly earnings results on Tuesday, May 3rd. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. During the same period in the prior year, the firm earned ($0.10) EPS. The company earned $68.46 million during the quarter, compared to analyst estimates of $63.94 million. Zendesk’s quarterly revenue was up 62.1% on a year-over-year basis. On average, analysts forecast that Zendesk Inc. will post ($0.30) earnings per share for the current year.
In other news, Director Dana Stalder sold 20,000 shares of Zendesk stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $24.48, for a total value of $489,600.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Adrian Mcdermott sold 44,627 shares of Zendesk stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $25.05, for a total value of $1,117,906.35. Following the completion of the transaction, the senior vice president now owns 126,954 shares in the company, valued at $3,180,197.70. The disclosure for this sale can be found here.
Other institutional investors have bought and sold shares of the company. UBS Oconnor LLC acquired a new position in Zendesk during the fourth quarter worth approximately $1,322,000. New York State Common Retirement Fund raised its position in Zendesk by 5.9% in the fourth quarter. New York State Common Retirement Fund now owns 51,900 shares of the company’s stock worth $1,372,000 after buying an additional 2,900 shares during the last quarter. Rhumbline Advisers raised its position in Zendesk by 11.6% in the fourth quarter. Rhumbline Advisers now owns 52,413 shares of the company’s stock worth $1,386,000 after buying an additional 5,445 shares during the last quarter. First Trust Advisors LP acquired a new position in Zendesk during the fourth quarter worth approximately $1,695,000. Finally, Russell Frank Co acquired a new position in Zendesk during the fourth quarter worth approximately $2,094,000.
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.
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