Zendesk Inc. (ZEN) Hits New 12-Month High at $31.88
Zendesk Inc. (NYSE:ZEN) hit a new 52-week high during trading on Tuesday . The company traded as high as $31.88 and last traded at $31.66, with a volume of 484,335 shares changing hands. The stock had previously closed at $31.41.
ZEN has been the subject of several recent analyst reports. Summit Redstone initiated coverage on shares of Zendesk in a research report on Monday, July 18th. They set a “buy” rating and a $34.00 price objective for the company. Summit Research restated a “buy” rating and set a $34.00 price objective on shares of Zendesk in a research report on Monday, July 18th. Morgan Stanley restated a “buy” rating on shares of Zendesk in a research report on Sunday, July 17th. Canaccord Genuity restated a “buy” rating on shares of Zendesk in a research report on Friday, June 10th. Finally, Zacks Investment Research upgraded shares of Zendesk from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Thursday, July 7th. One investment 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 company’s stock. Zendesk currently has a consensus rating of “Buy” and a consensus price target of $32.00.
The stock’s market capitalization is $2.96 billion. The stock has a 50-day moving average price of $29.86 and a 200 day moving average price of $24.72.
Zendesk (NYSE:ZEN) last released its earnings results on Tuesday, August 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.03. The firm earned $74.20 million during the quarter, compared to analysts’ expectations of $72.34 million. Zendesk’s revenue for the quarter was up 53.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.08) earnings per share. Analysts forecast that Zendesk Inc. will post ($0.25) EPS for the current fiscal year.
In other Zendesk news, SVP Anne Raimondi sold 100,000 shares of the company’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $30.40, for a total value of $3,040,000.00. Following the transaction, the senior vice president now directly owns 111,431 shares in the company, valued at approximately $3,387,502.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Caryn Marooney sold 1,693 shares of the company’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $31.19, for a total transaction of $52,804.67. Following the completion of the transaction, the director now owns 24,911 shares in the company, valued at $776,974.09. 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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