Piper Jaffray Companies reiterated their buy rating on shares of Zendesk (NYSE:ZEN) in a research note published on Wednesday morning. The firm currently has a $46.00 price objective on the software maker’s stock.

Several other equities research analysts also recently weighed in on ZEN. Royal Bank of Canada reiterated a buy rating and issued a $35.00 price target on shares of Zendesk in a report on Wednesday, October 18th. Zacks Investment Research downgraded Zendesk from a buy rating to a hold rating in a report on Wednesday, November 8th. Wells Fargo & Co reiterated an outperform rating and issued a $40.00 price target (up from $32.00) on shares of Zendesk in a report on Thursday, November 2nd. Stifel Nicolaus reiterated a neutral rating on shares of Zendesk in a report on Friday, November 3rd. Finally, UBS Group reiterated a neutral rating and issued a $38.00 price target (up from $37.00) on shares of Zendesk in a report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company’s stock. Zendesk currently has a consensus rating of Buy and an average price target of $40.31.

Shares of Zendesk (NYSE:ZEN) opened at $39.10 on Wednesday. Zendesk has a 52-week low of $24.49 and a 52-week high of $42.35. The stock has a market capitalization of $4,107.99, a P/E ratio of -35.23 and a beta of 1.87.

Zendesk (NYSE:ZEN) last issued its quarterly earnings data on Tuesday, February 6th. The software maker reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. Zendesk had a negative return on equity of 32.88% and a negative net margin of 25.70%. The business had revenue of $123.43 million for the quarter, compared to the consensus estimate of $119.68 million. During the same period in the prior year, the business posted ($0.04) earnings per share. The company’s quarterly revenue was up 39.3% compared to the same quarter last year. analysts forecast that Zendesk will post -1.07 EPS for the current fiscal year.

In related news, CFO Elena Gomez sold 1,604 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $34.37, for a total value of $55,129.48. Following the transaction, the chief financial officer now owns 4,430 shares of the company’s stock, valued at $152,259.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP John Geschke sold 9,727 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $35.09, for a total value of $341,320.43. Following the completion of the transaction, the senior vice president now directly owns 16,195 shares in the company, valued at approximately $568,282.55. The disclosure for this sale can be found here. In the last three months, insiders sold 101,426 shares of company stock worth $3,543,308. 5.30% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Zendesk by 10.9% in the second quarter. Vanguard Group Inc. now owns 7,365,549 shares of the software maker’s stock worth $204,615,000 after purchasing an additional 721,652 shares in the last quarter. Wasatch Advisors Inc. grew its stake in Zendesk by 26.5% in the second quarter. Wasatch Advisors Inc. now owns 3,919,479 shares of the software maker’s stock worth $108,883,000 after purchasing an additional 820,465 shares in the last quarter. Wells Fargo & Company MN grew its stake in Zendesk by 14.0% in the fourth quarter. Wells Fargo & Company MN now owns 2,105,554 shares of the software maker’s stock worth $71,251,000 after purchasing an additional 258,469 shares in the last quarter. State Street Corp grew its stake in Zendesk by 22.6% in the second quarter. State Street Corp now owns 1,813,976 shares of the software maker’s stock worth $50,395,000 after purchasing an additional 334,769 shares in the last quarter. Finally, Calamos Advisors LLC grew its stake in Zendesk by 8.8% in the third quarter. Calamos Advisors LLC now owns 1,645,329 shares of the software maker’s stock worth $47,896,000 after purchasing an additional 133,346 shares in the last quarter. 93.94% of the stock is currently owned by institutional investors.

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About Zendesk

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.

Analyst Recommendations for Zendesk (NYSE:ZEN)

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