Zendesk, Inc. (ZEN) Receives Average Rating of “Buy” from Analysts
Zendesk, Inc. (NYSE:ZEN) has been given a consensus rating of “Buy” by the sixteen ratings firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $32.73.
ZEN has been the subject of several recent research reports. BidaskClub cut Zendesk from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 29th. Zacks Investment Research upgraded Zendesk from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Stifel Nicolaus reiterated a “hold” rating on shares of Zendesk in a research note on Friday, July 21st. KeyCorp reiterated a “buy” rating and issued a $35.00 price target on shares of Zendesk in a research note on Friday, August 4th. Finally, Piper Jaffray Companies set a $33.00 price target on Zendesk and gave the company a “buy” rating in a research note on Saturday, August 5th.
In other Zendesk news, CFO Elena Gomez sold 1,200 shares of the company’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $28.87, for a total transaction of $34,644.00. Following the completion of the sale, the chief financial officer now directly owns 3,620 shares in the company, valued at $104,509.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mikkel Svane sold 50,000 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $28.10, for a total value of $1,405,000.00. Following the sale, the chairman now owns 1,730,990 shares of the company’s stock, valued at $48,640,819. The disclosure for this sale can be found here. Insiders have sold 91,315 shares of company stock valued at $2,587,980 over the last 90 days. Corporate insiders own 5.30% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its stake in Zendesk by 28.7% during the first quarter. Goldman Sachs Group Inc. now owns 337,329 shares of the software maker’s stock worth $9,458,000 after purchasing an additional 75,286 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in Zendesk during the second quarter worth $216,000. Morgan Stanley lifted its stake in Zendesk by 3.1% during the first quarter. Morgan Stanley now owns 1,141,934 shares of the software maker’s stock worth $32,020,000 after purchasing an additional 34,621 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Zendesk by 77.9% during the second quarter. JPMorgan Chase & Co. now owns 2,110,503 shares of the software maker’s stock worth $58,629,000 after purchasing an additional 923,875 shares during the last quarter. Finally, Legato Capital Management LLC bought a new stake in Zendesk during the second quarter worth $492,000. Hedge funds and other institutional investors own 95.97% of the company’s stock.
Zendesk (NYSE ZEN) traded down 0.57% during trading on Wednesday, hitting $29.74. The company had a trading volume of 336,355 shares. Zendesk has a one year low of $19.77 and a one year high of $31.95. The stock has a 50-day moving average of $28.72 and a 200 day moving average of $27.91. The company’s market capitalization is $2.99 billion.
Zendesk (NYSE:ZEN) last issued its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.20). The company 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 32.10%. The company’s quarterly revenue was up 36.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.06) earnings per share. Equities analysts forecast that Zendesk will post ($0.17) EPS for the current fiscal year.
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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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