Zendesk, Inc. (ZEN) Stock Rating Lowered by Zacks Investment Research
Zacks Investment Research lowered shares of Zendesk, Inc. (NYSE:ZEN) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.
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 also recently weighed in on ZEN. Stifel Nicolaus reaffirmed a neutral rating on shares of Zendesk in a research report on Friday, November 3rd. Stephens downgraded shares of Zendesk from an equal weight rating to an underweight rating and set a $25.00 price objective for the company. in a research report on Monday, October 9th. Wells Fargo & Company reaffirmed an outperform rating and set a $40.00 price objective (up previously from $32.00) on shares of Zendesk in a research report on Thursday, November 2nd. Morgan Stanley boosted their price objective on shares of Zendesk from $35.00 to $38.00 and gave the company an overweight rating in a research report on Thursday, November 2nd. Finally, Canaccord Genuity boosted their price objective on shares of Zendesk from $34.00 to $36.00 and gave the company a buy rating in a research report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $34.13.
Shares of Zendesk (NYSE ZEN) opened at $35.27 on Wednesday. Zendesk has a 12 month low of $19.77 and a 12 month high of $35.89.
Zendesk (NYSE:ZEN) last issued its earnings results on Wednesday, November 1st. The software maker reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.04. The business had revenue of $112.79 million for the quarter, compared to analyst estimates of $109.19 million. Zendesk had a negative net margin of 27.43% and a negative return on equity of 32.50%. The company’s revenue for the quarter was up 39.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.04) EPS. equities analysts forecast that Zendesk will post -1.03 earnings per share for the current fiscal year.
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In other news, insider Adrian Mcdermott sold 1,766 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $26.42, for a total value of $46,657.72. Following the completion of the transaction, the insider now directly owns 80,435 shares in the company, valued at $2,125,092.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Elena Gomez sold 13,155 shares of the stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $35.00, for a total transaction of $460,425.00. Following the completion of the transaction, the chief financial officer now owns 16,858 shares of the company’s stock, valued at $590,030. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,178 shares of company stock valued at $2,232,916. 5.30% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. bought a new position in shares of Zendesk in the first quarter valued at approximately $103,000. Advisor Group Inc. boosted its holdings in shares of Zendesk by 44.3% in the second quarter. Advisor Group Inc. now owns 3,701 shares of the software maker’s stock valued at $103,000 after acquiring an additional 1,137 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Zendesk in the third quarter valued at approximately $105,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Zendesk by 10.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,887 shares of the software maker’s stock valued at $108,000 after acquiring an additional 352 shares in the last quarter. Finally, Fortaleza Asset Management Inc. bought a new position in shares of Zendesk in the second quarter valued at approximately $115,000. Institutional investors and hedge funds own 96.07% 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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