Zendesk Inc. (ZEN) Shares Up 5.3%
Zendesk Inc. (NYSE:ZEN) shares shot up 5.3% during trading on Friday . The stock traded as high as $29.80 and last traded at $29.78, with a volume of 657,933 shares changing hands. The stock had previously closed at $28.27.
Several research firms have recently commented on ZEN. Zacks Investment Research lowered shares of Zendesk from a “buy” rating to a “hold” rating in a report on Tuesday, August 2nd. Morgan Stanley lifted their price target on shares of Zendesk from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, July 14th. Summit Research reaffirmed a “buy” rating and issued a $34.00 price target on shares of Zendesk in a report on Monday, July 18th. Summit Redstone initiated coverage on shares of Zendesk in a report on Monday, July 18th. They issued a “buy” rating and a $34.00 price target for the company. Finally, Stifel Nicolaus initiated coverage on shares of Zendesk in a research note on Monday, July 18th. They set a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Zendesk has a consensus rating of “Buy” and a consensus price target of $31.71.
The company has a 50 day moving average price of $27.91 and a 200-day moving average price of $23.24. The firm’s market cap is $2.78 billion.
Zendesk (NYSE:ZEN) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. The business earned $74.20 million during the quarter, compared to analyst estimates of $72.34 million. During the same quarter in the prior year, the company posted ($0.08) EPS. The company’s quarterly revenue was up 53.9% compared to the same quarter last year. Analysts predict that Zendesk Inc. will post ($0.28) earnings per share for the current fiscal year.
In related news, SVP John Geschke sold 5,000 shares of the stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $23.59, for a total transaction of $117,950.00. Following the completion of the sale, the senior vice president now owns 10,053 shares in the company, valued at approximately $237,150.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dana Stalder sold 20,000 shares of the stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $24.48, for a total transaction of $489,600.00. The disclosure for this sale can be found here.
Other large investors have recently made changes to their positions in the company. UBS Oconnor LLC purchased a new stake in shares of Zendesk during the fourth quarter worth about $1,322,000. New York State Common Retirement Fund boosted 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 worth $1,372,000 after buying an additional 2,900 shares during the period. Rhumbline Advisers boosted 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 worth $1,386,000 after buying an additional 5,445 shares during the period. First Trust Advisors LP purchased a new stake in shares of Zendesk during the fourth quarter worth about $1,695,000. Finally, Russell Frank Co purchased a new stake in shares of Zendesk during the fourth quarter worth about $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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