Zendesk Inc. (ZEN) Reaches New 1-Year High at $31.43
Zendesk Inc. (NYSE:ZEN) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $31.43 and last traded at $31.15, with a volume of 279,896 shares changing hands. The stock had previously closed at $31.24.
ZEN has been the subject of a number of analyst reports. Canaccord Genuity reissued a “buy” rating and issued a $35.00 price target on shares of Zendesk in a report on Thursday, August 4th. Zacks Investment Research raised Zendesk from a “hold” rating to a “strong-buy” rating and set a $35.00 target price for the company in a research note on Thursday, August 11th. Piper Jaffray Cos. initiated coverage on Zendesk in a research note on Tuesday, May 31st. They set an “overweight” rating and a $35.00 target price for the company. RBC Capital Markets reaffirmed an “outperform” rating and set a $33.00 target price (up from $27.00) on shares of Zendesk in a research note on Wednesday, July 27th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $28.00 target price (up from $25.00) on shares of Zendesk in a research note on Friday, May 6th. One research analyst has rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Zendesk presently has an average rating of “Buy” and an average price target of $32.00.
The firm has a 50-day moving average price of $29.64 and a 200-day moving average price of $24.48. The firm’s market capitalization is $2.90 billion.
Zendesk (NYSE:ZEN) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.06) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.03. The business earned $74.20 million during the quarter, compared to analysts’ expectations of $72.34 million. The firm’s quarterly revenue was up 53.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.08) earnings per share. On average, equities analysts predict that Zendesk Inc. will post ($0.25) earnings per share for the current year.
In related news, SVP Adrian Mcdermott sold 71,945 shares of Zendesk stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 134,592 shares in the company, valued at $3,944,891.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Mikkel Svane sold 150,000 shares of Zendesk stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $30.59, for a total value of $4,588,500.00. Following the completion of the sale, the chairman now owns 3,421,984 shares in the company, valued at $104,678,490.56. The disclosure for this sale can be found here.
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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