Shares of Zendesk Inc. (NYSE:ZEN) reached a new 52-week high on Friday . The company traded as high as $29.85 and last traded at $29.80, with a volume of 526,373 shares trading hands. The stock had previously closed at $29.62.

A number of analysts recently weighed in on the stock. Morgan Stanley upped their target price on shares of Zendesk from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, July 14th. Goldman Sachs Group Inc. reissued 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. Summit Research reissued a “buy” rating and issued a $34.00 target price on shares of Zendesk in a research note on Monday, July 18th. Stifel Nicolaus initiated coverage on shares of Zendesk in a research note on Monday, July 18th. They set a “hold” rating on the stock. Finally, Zacks Investment Research cut shares of Zendesk from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 6th. One analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company. Zendesk presently has an average rating of “Buy” and an average price target of $31.06.

The firm’s market cap is $2.77 billion. The firm’s 50-day moving average is $27.53 and its 200 day moving average is $22.99.

Zendesk (NYSE:ZEN) last issued its earnings results on Tuesday, May 3rd. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.02. During the same quarter in the previous year, the firm posted ($0.10) earnings per share. The firm earned $68.46 million during the quarter, compared to analyst estimates of $63.94 million. Zendesk’s quarterly revenue was up 62.1% compared to the same quarter last year. Equities research analysts predict that Zendesk Inc. will post ($0.30) EPS for the current fiscal year.

In other news, 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 transaction, 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 Securities & Exchange Commission, which is available through this link. Also, SVP Adrian Mcdermott sold 2,349 shares of the business’s stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $23.55, for a total transaction of $55,318.95. Following the completion of the transaction, the senior vice president now owns 84,627 shares of the company’s stock, valued at $1,992,965.85. The disclosure for this sale can be found here.

Several institutional investors have recently modified their holdings of ZEN. Westfield Capital Management Co. LP boosted its position in shares of Zendesk by 1.9% in the fourth quarter. Westfield Capital Management Co. LP now owns 769,196 shares of the company’s stock valued at $20,338,000 after buying an additional 14,215 shares during the last quarter. Garelick Capital Partners LP bought a new stake in shares of Zendesk during the fourth quarter valued at about $3,255,000. UBS Oconnor LLC bought a new stake in shares of Zendesk during the fourth quarter valued at about $1,322,000. Wells Fargo & Company MN raised 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. Finally, 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 during the period.

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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