Zendesk Inc. (NYSE:ZEN) Given Average Rating of “Buy” by Analysts
Zendesk Inc. (NYSE:ZEN) has been assigned a consensus recommendation of “Buy” from the seventeen analysts that are presently covering the company. Two analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $32.54.
Several equities analysts have issued reports on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $33.00 price objective on shares of Zendesk in a research note on Wednesday, September 28th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $35.00 price objective on shares of Zendesk in a research note on Saturday, August 13th. Zacks Investment Research raised shares of Zendesk from a “hold” rating to a “strong-buy” rating and set a $35.00 price objective on the stock in a research note on Thursday, August 11th. Morgan Stanley boosted their price objective on shares of Zendesk from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, July 14th. Finally, Summit Redstone assumed coverage on shares of Zendesk in a research note on Monday, July 18th. They issued a “buy” rating and a $34.00 price objective on the stock.
Zendesk (NYSE:ZEN) traded down 1.58% during trading on Friday, reaching $29.24. 190,311 shares of the company’s stock traded hands. Zendesk has a one year low of $14.39 and a one year high of $31.88. The stock’s market cap is $2.74 billion. The firm’s 50 day moving average price is $30.54 and its 200-day moving average price is $26.65.
Zendesk (NYSE:ZEN) last released its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.03. Zendesk had a negative net margin of 37.10% and a negative return on equity of 30.61%. The firm earned $74.20 million during the quarter, compared to the consensus estimate of $72.34 million. During the same quarter in the prior year, the firm earned ($0.08) EPS. Zendesk’s revenue for the quarter was up 53.9% on a year-over-year basis. On average, equities analysts anticipate that Zendesk will post ($0.04) earnings per share for the current fiscal year.
In other news, SVP Adrian Mcdermott sold 1,245 shares of Zendesk stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $28.24, for a total transaction of $35,158.80. Following the completion of the sale, the senior vice president now directly owns 84,843 shares in the company, valued at approximately $2,395,966.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Caryn Marooney sold 1,693 shares of Zendesk stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $31.19, for a total value of $52,804.67. Following the sale, the director now owns 24,911 shares of the company’s stock, valued at $776,974.09. The disclosure for this sale can be found here. Company insiders own 17.00% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its stake in shares of Zendesk by 348.6% in the first quarter. Wellington Management Group LLP now owns 4,370,342 shares of the company’s stock valued at $91,471,000 after buying an additional 3,396,128 shares in the last quarter. Hunt Lane Capital LP raised its stake in shares of Zendesk by 1,046.8% in the first quarter. Hunt Lane Capital LP now owns 1,422,000 shares of the company’s stock valued at $29,762,000 after buying an additional 1,298,000 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Zendesk by 48.9% in the first quarter. Franklin Resources Inc. now owns 3,881,877 shares of the company’s stock valued at $81,248,000 after buying an additional 1,275,008 shares in the last quarter. 1832 Asset Management L.P. purchased a new stake in shares of Zendesk during the second quarter valued at about $38,715,000. Finally, Lord Abbett & CO. LLC raised its stake in shares of Zendesk by 75.6% in the second quarter. Lord Abbett & CO. LLC now owns 1,534,612 shares of the company’s stock valued at $40,483,000 after buying an additional 660,662 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.
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.
Receive News & Ratings for Zendesk Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zendesk Inc. and related companies with MarketBeat.com's FREE daily email newsletter.