Zendesk Inc. (ZEN) Reaches New 12-Month High at $31.43
Zendesk Inc. (NYSE:ZEN) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $31.43 and last traded at $31.15, with a volume of 279,896 shares traded. The stock had previously closed at $31.24.
Several brokerages have commented on ZEN. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $35.00 price target on shares of Zendesk in a research report on Saturday, August 13th. Zacks Investment Research raised Zendesk from a “hold” rating to a “strong-buy” rating and set a $35.00 price target on the stock in a research report on Thursday, August 11th. Morgan Stanley lifted their price target on Zendesk from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, July 14th. Summit Research reaffirmed a “buy” rating and issued a $34.00 price target on shares of Zendesk in a research report on Monday, July 18th. Finally, Stifel Nicolaus began coverage on Zendesk in a research report on Monday, July 18th. They issued a “hold” rating on the stock. One analyst has rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $32.00.
The company has a 50-day moving average price of $29.74 and a 200-day moving average price of $24.63. The firm’s market cap is $2.86 billion.
Zendesk (NYSE:ZEN) last released its quarterly earnings data 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 business earned $74.20 million during the quarter, compared to analyst estimates of $72.34 million. The business’s quarterly revenue was up 53.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.08) earnings per share. On average, equities research analysts expect that Zendesk Inc. will post ($0.25) EPS for the current year.
In other news, Chairman Mikkel Svane sold 150,000 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The stock was 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 directly owns 3,421,984 shares of the company’s stock, valued at $104,678,490.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP John Geschke sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $30.29, for a total value of $151,450.00. Following the completion of the sale, the senior vice president now directly owns 11,175 shares of the company’s stock, valued at $338,490.75. 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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