Zendesk Inc. (ZEN) Stock Price Up 5.3%
Zendesk Inc. (NYSE:ZEN) rose 5.3% during mid-day trading on Friday . The stock traded as high as $29.80 and last traded at $29.78, with a volume of 657,933 shares. The stock had previously closed at $28.27.
ZEN has been the topic of several analyst reports. Zacks Investment Research raised shares of Zendesk from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Thursday, July 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $28.00 price target (up previously from $25.00) on shares of Zendesk in a research note on Friday, May 6th. Canaccord Genuity reaffirmed a “buy” rating on shares of Zendesk in a research note on Friday, June 10th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $29.00 price target (up previously from $23.00) on shares of Zendesk in a research note on Tuesday, April 19th. Finally, Morgan Stanley reaffirmed a “buy” rating on shares of Zendesk in a research note on Sunday, July 17th. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Zendesk presently has a consensus rating of “Buy” and an average target price of $31.71.
The stock’s market capitalization is $2.78 billion. The stock’s 50-day moving average price is $27.83 and its 200-day moving average price is $23.19.
Zendesk (NYSE:ZEN) last released its earnings results on Tuesday, August 2nd. The company reported ($0.06) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.03. The company had revenue of $74.20 million for the quarter, compared to analyst estimates of $72.34 million. Zendesk’s revenue for the quarter was up 53.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.08) earnings per share. On average, equities research analysts predict that Zendesk Inc. will post ($0.28) earnings per share for the current fiscal year.
In related news, SVP John Geschke sold 5,000 shares of the company’s stock in a transaction on Wednesday, May 18th. The shares were sold at an average price of $23.59, for a total transaction of $117,950.00. Following the completion of the transaction, the senior vice president now directly owns 10,053 shares in the company, valued at approximately $237,150.27. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Adrian Mcdermott sold 71,945 shares of the company’s stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $29.31, for a total transaction of $2,108,707.95. Following the transaction, the senior vice president now owns 134,592 shares of the company’s stock, valued at $3,944,891.52. The disclosure for this sale can be found here.
Other institutional investors recently added to or reduced their stakes in the company. UBS Oconnor LLC bought a new position in Zendesk during the fourth quarter valued at approximately $1,322,000. New York State Common Retirement Fund boosted 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 valued at $1,372,000 after buying an additional 2,900 shares during the last quarter. Rhumbline Advisers boosted its position in Zendesk by 11.6% in the fourth quarter. Rhumbline Advisers now owns 52,413 shares of the company’s stock valued at $1,386,000 after buying an additional 5,445 shares during the last quarter. First Trust Advisors LP bought a new position in Zendesk during the fourth quarter valued at approximately $1,695,000. Finally, Russell Frank Co bought a new position in Zendesk during the fourth quarter valued at approximately $2,094,000.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.