Zendesk Inc. (ZEN) Reaches New 12-Month High at $30.89
Zendesk Inc. (NYSE:ZEN)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $30.89 and last traded at $30.84, with a volume of 483,895 shares traded. The stock had previously closed at $30.14.
ZEN has been the subject of several research analyst reports. Zacks Investment Research raised shares of Zendesk from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Thursday, July 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $28.00 price target (up previously from $25.00) on shares of Zendesk in a research report on Friday, May 6th. Morgan Stanley reaffirmed an “overweight” rating and set a $28.00 price target (up previously from $24.00) on shares of Zendesk in a research report on Wednesday, May 4th. Canaccord Genuity reaffirmed a “buy” rating on shares of Zendesk in a research report on Friday, June 10th. Finally, RBC Capital Markets reaffirmed an “outperform” rating and set a $33.00 price target (up previously from $27.00) on shares of Zendesk in a research report on Wednesday, July 27th. Two analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $31.71.
The company’s 50-day moving average price is $27.91 and its 200-day moving average price is $23.24. The company’s market cap is $2.87 billion.
Zendesk (NYSE:ZEN) last released its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.06) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.03. During the same period in the prior year, the business earned ($0.08) EPS. The firm earned $74.20 million during the quarter, compared to the consensus estimate of $72.34 million. The company’s revenue for the quarter 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 other news, Director Dana Stalder sold 20,000 shares of the firm’s stock in a transaction on Thursday, May 26th. The shares were sold at an average price of $24.48, for a total value of $489,600.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Adrian Mcdermott sold 5,552 shares of the firm’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $28.08, for a total transaction of $155,900.16. Following the completion of the sale, the senior vice president now owns 90,395 shares in the company, valued at approximately $2,538,291.60. The disclosure for this sale can be found here.
Several large investors recently made changes to their positions in ZEN. New York State Common Retirement Fund increased 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 last quarter. Rhumbline Advisers increased 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 during the last quarter. Westfield Capital Management Co. LP increased its stake 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. UBS Oconnor LLC bought a new stake in shares of Zendesk during the fourth quarter valued at about $1,322,000. Finally, First Trust Advisors LP bought 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.
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