Zendesk Inc. (ZEN) Sets New 1-Year High at $29.85
Zendesk Inc. (NYSE:ZEN)’s share price reached a new 52-week high during trading on Friday . The company traded as high as $29.85 and last traded at $29.80, with a volume of 526,373 shares traded. The stock had previously closed at $29.62.
A number of equities analysts have recently commented on the company. Morgan Stanley raised their price objective on Zendesk from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, July 14th. Summit Research reiterated a “buy” rating and issued a $34.00 target price on shares of Zendesk in a research note on Monday, July 18th. Summit Redstone began coverage on Zendesk in a research note on Monday, July 18th. They issued a “buy” rating and a $34.00 target price for the company. Stifel Nicolaus began coverage on Zendesk in a research note on Monday, July 18th. They issued a “hold” rating for the company. Finally, Royal Bank Of Canada increased their target price on Zendesk from $27.00 to $33.00 and gave the company an “outperform” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Zendesk currently has a consensus rating of “Buy” and a consensus target price of $31.06.
The company has a 50-day moving average price of $27.62 and a 200-day moving average price of $23.03. The stock’s market cap is $2.77 billion.
Zendesk (NYSE:ZEN) last announced its quarterly earnings results on Tuesday, May 3rd. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. During the same period in the prior year, the firm earned ($0.10) EPS. The company earned $68.46 million during the quarter, compared to analyst estimates of $63.94 million. Zendesk’s quarterly revenue was up 62.1% on a year-over-year basis. On average, analysts expect that Zendesk Inc. will post ($0.30) earnings per share for the current year.
In other news, Director Dana Stalder sold 20,000 shares of Zendesk stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $24.48, for a total value of $489,600.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Adrian Mcdermott sold 44,627 shares of Zendesk stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $25.05, for a total value of $1,117,906.35. Following the completion of the transaction, the senior vice president now owns 126,954 shares in the company, valued at $3,180,197.70. The disclosure for this sale can be found here.
Several institutional investors have bought and sold shares of the company. Westfield Capital Management Co. LP raised its position in 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 during the last quarter. Garelick Capital Partners LP acquired a new position in Zendesk during the fourth quarter worth approximately $3,255,000. UBS Oconnor LLC acquired a new position in Zendesk during the fourth quarter worth approximately $1,322,000. Wells Fargo & Company MN raised its position in Zendesk by 51.0% in the fourth quarter. Wells Fargo & Company MN now owns 1,604,904 shares of the company’s stock worth $42,434,000 after buying an additional 541,977 shares during the last quarter. Finally, New York State Common Retirement Fund raised its position in 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 during the last quarter.
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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