Zendesk, Inc. (NYSE:ZEN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

According to Zacks, “Zendesk, Inc. is a software development company. It provides a software-as-a-service, or SaaS, customer service platform. The Company offers applications that allow clients to manage incoming support requests from end customers from any Internet connected computer. It provides customer service through its platform in approximately 40 languages to customers in various industries, such as business technology, telecommunications, education/non-profit, consumer technology, media/entertainment, and retail/ecommerce. Zendesk, Inc. is headquartered in San Francisco, California. “

A number of other brokerages have also recently issued reports on ZEN. KeyCorp reissued a “buy” rating and issued a $35.00 price objective on shares of Zendesk in a research note on Friday, August 4th. BidaskClub cut shares of Zendesk from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 29th. Guggenheim reissued a “buy” rating and issued a $33.00 price objective on shares of Zendesk in a research note on Tuesday, April 18th. Stifel Nicolaus reissued a “hold” rating on shares of Zendesk in a research note on Friday, July 21st. Finally, UBS AG reissued a “buy” rating and issued a $38.00 price objective (up from $36.00) on shares of Zendesk in a research note on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $33.00.

Shares of Zendesk (NYSE ZEN) traded down 0.42% on Wednesday, hitting $25.83. The stock had a trading volume of 244,389 shares. Zendesk has a one year low of $19.77 and a one year high of $31.88. The firm has a 50 day moving average price of $28.51 and a 200 day moving average price of $27.25. The company’s market capitalization is $2.56 billion.

Zendesk (NYSE:ZEN) last announced its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.20. The firm had revenue of $101.30 million during the quarter, compared to the consensus estimate of $99.47 million. Zendesk had a negative net margin of 29.34% and a negative return on equity of 32.28%. The business’s revenue was up 36.5% compared to the same quarter last year. During the same period last year, the business earned ($0.06) earnings per share. On average, equities research analysts predict that Zendesk will post ($0.17) earnings per share for the current fiscal year.

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In other Zendesk news, CFO Elena Gomez sold 21,781 shares of the business’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $25.46, for a total transaction of $554,544.26. Following the sale, the chief financial officer now owns 231 shares of the company’s stock, valued at $5,881.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Caryn Marooney sold 1,693 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $30.10, for a total transaction of $50,959.30. Following the sale, the director now directly owns 53,948 shares in the company, valued at approximately $1,623,834.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 88,834 shares of company stock worth $2,403,844. Insiders own 5.30% of the company’s stock.

Several hedge funds have recently bought and sold shares of ZEN. Principal Financial Group Inc. boosted its stake in Zendesk by 2.5% in the first quarter. Principal Financial Group Inc. now owns 11,605 shares of the software maker’s stock worth $325,000 after buying an additional 283 shares during the last quarter. Parallel Advisors LLC boosted its stake in Zendesk by 3.8% in the second quarter. Parallel Advisors LLC now owns 8,275 shares of the software maker’s stock worth $243,000 after buying an additional 300 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Zendesk by 10.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,887 shares of the software maker’s stock worth $108,000 after buying an additional 352 shares during the last quarter. Trillium Asset Management LLC boosted its stake in Zendesk by 1.6% in the first quarter. Trillium Asset Management LLC now owns 52,838 shares of the software maker’s stock worth $1,482,000 after buying an additional 831 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its stake in Zendesk by 3.1% in the second quarter. Neuberger Berman Group LLC now owns 31,429 shares of the software maker’s stock worth $873,000 after buying an additional 950 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Zendesk (NYSE:ZEN)

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