Zendesk Inc. (ZEN) Reaches New 52-Week High at $30.89
Zendesk Inc. (NYSE:ZEN) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $30.89 and last traded at $30.84, with a volume of 483,895 shares trading hands. The stock had previously closed at $30.14.
A number of equities research analysts recently issued reports on the stock. Canaccord Genuity reaffirmed a “buy” rating and set a $35.00 price target on shares of Zendesk in a research note on Thursday, August 4th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $35.00 price objective on shares of Zendesk in a research report on Wednesday, August 3rd. Zacks Investment Research cut shares of Zendesk from a “buy” rating to a “hold” rating in a research report on Tuesday, August 2nd. RBC Capital Markets reiterated an “outperform” rating and set a $33.00 price objective (up previously from $27.00) on shares of Zendesk in a research report on Wednesday, July 27th. Finally, Royal Bank Of Canada boosted their price objective on shares of Zendesk from $27.00 to $33.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Zendesk has an average rating of “Buy” and an average price target of $31.71.
The firm has a 50 day moving average price of $28.11 and a 200-day moving average price of $23.35. The firm’s market capitalization is $2.90 billion.
Zendesk (NYSE:ZEN) last released its earnings results on Tuesday, August 2nd. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.03. The firm earned $74.20 million during the quarter, compared to analyst estimates of $72.34 million. The business’s revenue was up 53.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.08) earnings per share. On average, equities research analysts anticipate that Zendesk Inc. will post ($0.25) EPS for the current year.
In other news, Director Dana Stalder sold 20,000 shares of the business’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Adrian Mcdermott sold 71,945 shares of the business’s stock in a transaction dated Wednesday, July 13th. The stock was sold at an average price of $29.31, for a total value of $2,108,707.95. Following the transaction, the senior vice president now directly owns 134,592 shares of the company’s stock, valued at $3,944,891.52. The disclosure for this sale can be found here.
Several institutional investors recently made changes to their positions in the company. New York State Common Retirement Fund increased its position 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 in the last quarter. Rhumbline Advisers increased its position 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 in the last quarter. Westfield Capital Management Co. LP increased 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 worth $20,338,000 after buying an additional 14,215 shares in the last quarter. UBS Oconnor LLC bought a new position in shares of Zendesk during the fourth quarter worth approximately $1,322,000. Finally, First Trust Advisors LP bought a new position in shares of Zendesk during the fourth quarter worth approximately $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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