KeyCorp Reiterates “Buy” Rating for Zendesk, Inc. (NYSE:ZEN)
“We maintain our Overweight rating on ZEN and a $35 price target.”,” the firm’s analyst wrote.
A number of other equities research analysts have also recently commented on the stock. UBS AG reissued a buy rating and issued a $38.00 price target (up previously from $36.00) on shares of Zendesk in a research note on Friday, May 5th. Zacks Investment Research raised shares of Zendesk from a sell rating to a hold rating in a research note on Tuesday, July 4th. Guggenheim started coverage on shares of Zendesk in a research note on Wednesday, April 12th. They issued a buy rating on the stock. They noted that the move was a valuation call. Stifel Nicolaus reissued a hold rating on shares of Zendesk in a research note on Friday, July 21st. Finally, BidaskClub cut shares of Zendesk from a strong-buy rating to a buy rating in a research note on Thursday, June 29th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Zendesk presently has a consensus rating of Buy and a consensus target price of $33.00.
Zendesk (ZEN) opened at 27.96 on Friday. The company’s market capitalization is $2.77 billion. The firm has a 50 day moving average of $28.36 and a 200-day moving average of $27.22. Zendesk has a 52-week low of $19.77 and a 52-week high of $31.88.
Zendesk (NYSE:ZEN) last issued its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.20. The firm had revenue of $101.30 million for the quarter, compared to analyst estimates of $99.47 million. Zendesk had a negative return on equity of 32.28% and a negative net margin of 29.34%. Zendesk’s revenue for the quarter was up 36.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.06) EPS. Equities analysts expect that Zendesk will post ($0.17) EPS for the current year.
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In other Zendesk news, SVP John Geschke sold 10,000 shares of the firm’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $29.34, for a total value of $293,400.00. Following the transaction, the senior vice president now owns 19,810 shares in the company, valued at approximately $581,225.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Elena Gomez sold 1,780 shares of the firm’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $27.17, for a total value of $48,362.60. The disclosure for this sale can be found here. Insiders sold a total of 88,834 shares of company stock worth $2,403,844 in the last 90 days. 5.30% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. bought a new position in Zendesk during the first quarter valued at approximately $103,000. Fortaleza Asset Management Inc. bought a new position in Zendesk during the second quarter valued at approximately $115,000. Independent Portfolio Consultants Inc. bought a new position in Zendesk during the second quarter valued at approximately $153,000. Ameritas Investment Partners Inc. bought a new position in Zendesk during the first quarter valued at approximately $197,000. Finally, Gotham Asset Management LLC bought a new position in Zendesk during the first quarter valued at approximately $211,000. Institutional investors and hedge funds own 92.69% of the company’s stock.
Zendesk Company Profile
Zendesk, Inc (Zendesk) is a software development company. The Zendesk family of products is built to work together to help organizations understand and manage customer relationships. All Zendesk products share a common interface and are being developed to support a shared services infrastructure and common customer data platform.
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