Zendesk, Inc. (NYSE:ZEN) Given a $33.00 Price Target by Piper Jaffray Companies Analysts
Other equities analysts have also recently issued reports about the stock. Guggenheim started coverage on shares of Zendesk in a research note on Wednesday, April 12th. They set a buy rating for the company. They noted that the move was a valuation call. BidaskClub cut shares of Zendesk from a strong-buy rating to a buy rating in a research note on Thursday, June 29th. KeyCorp reiterated a buy rating and set a $35.00 target price on shares of Zendesk in a research note on Friday. UBS AG reiterated a buy rating and set a $38.00 target price (up from $36.00) on shares of Zendesk in a research note on Friday, May 5th. Finally, Zacks Investment Research cut shares of Zendesk from a strong-buy rating to a hold rating in a research note on Thursday, April 13th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of Buy and an average target price of $33.00.
Shares of Zendesk (ZEN) opened at 27.96 on Friday. The company’s 50-day moving average is $28.36 and its 200 day moving average is $27.22. Zendesk has a 1-year low of $19.77 and a 1-year high of $31.88. The stock’s market cap is $2.77 billion.
Zendesk (NYSE:ZEN) last released its earnings results on Thursday, August 3rd. The software maker reported ($0.26) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $0.20. The company had revenue of $101.30 million for the quarter, compared to analyst estimates of $99.47 million. Zendesk had a negative net margin of 29.34% and a negative return on equity of 32.28%. Zendesk’s revenue for the quarter was up 36.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.06) earnings per share. Equities research analysts anticipate that Zendesk will post ($0.17) EPS for the current year.
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In other news, SVP John Geschke sold 10,000 shares of the company’s stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $29.34, for a total value of $293,400.00. Following the sale, the senior vice president now owns 19,810 shares of the company’s stock, valued at approximately $581,225.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Elena Gomez sold 1,780 shares of the company’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $27.17, for a total transaction of $48,362.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 88,834 shares of company stock valued at $2,403,844. Corporate insiders own 5.30% of the company’s stock.
Several large investors have recently bought and sold shares of ZEN. Oppenheimer Asset Management Inc. purchased a new stake in Zendesk during the first quarter valued at $103,000. Fortaleza Asset Management Inc. purchased a new stake in Zendesk during the second quarter valued at $115,000. Independent Portfolio Consultants Inc. purchased a new stake in Zendesk during the second quarter valued at $153,000. Ameritas Investment Partners Inc. purchased a new stake in Zendesk during the first quarter valued at $197,000. Finally, Gotham Asset Management LLC purchased a new stake in Zendesk during the first quarter valued at $211,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.
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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