Zendesk (NYSE:ZEN) had its price objective lifted by Morgan Stanley from $72.00 to $84.00 in a report released on Tuesday. They currently have an overweight rating on the software maker’s stock.

Several other research firms have also issued reports on ZEN. Bank of America upped their price target on shares of Zendesk from $64.00 to $68.00 and gave the stock a buy rating in a research report on Monday, July 23rd. Stifel Nicolaus upped their price target on shares of Zendesk from $50.00 to $60.00 and gave the stock a hold rating in a research report on Wednesday, August 1st. KeyCorp upped their price target on shares of Zendesk from $58.00 to $71.00 and gave the stock an overweight rating in a research report on Wednesday, August 1st. Wells Fargo & Co dropped their price target on shares of Zendesk from $80.00 to $70.00 and set an outperform rating on the stock in a research report on Wednesday, August 1st. Finally, Canaccord Genuity reaffirmed a buy rating and set a $65.00 price target on shares of Zendesk in a research report on Wednesday, August 1st. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $60.19.

Shares of ZEN stock opened at $68.51 on Tuesday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 2.74 and a current ratio of 2.74. The firm has a market capitalization of $7.62 billion, a PE ratio of -66.51 and a beta of 1.60. Zendesk has a 12 month low of $27.09 and a 12 month high of $72.23.

Zendesk (NYSE:ZEN) last announced its quarterly earnings data on Tuesday, July 31st. The software maker reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.26) by $0.29. The business had revenue of $141.88 million for the quarter, compared to analyst estimates of $137.96 million. Zendesk had a negative net margin of 23.24% and a negative return on equity of 28.60%. analysts anticipate that Zendesk will post -0.94 earnings per share for the current fiscal year.

In other Zendesk news, SVP John Geschke sold 7,666 shares of the company’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $61.99, for a total value of $475,215.34. Following the transaction, the senior vice president now directly owns 17,119 shares in the company, valued at $1,061,206.81. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Adrian Mcdermott sold 1,809 shares of the company’s stock in a transaction on Wednesday, July 18th. The shares were sold at an average price of $60.33, for a total transaction of $109,136.97. Following the completion of the transaction, the insider now owns 80,267 shares in the company, valued at $4,842,508.11. The disclosure for this sale can be found here. Over the last quarter, insiders sold 109,131 shares of company stock worth $6,923,858. Corporate insiders own 4.70% of the company’s stock.

Several large investors have recently added to or reduced their stakes in ZEN. SG Americas Securities LLC acquired a new position in shares of Zendesk in the first quarter valued at about $345,000. State Board of Administration of Florida Retirement System grew its stake in shares of Zendesk by 6.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 50,737 shares of the software maker’s stock valued at $2,429,000 after acquiring an additional 3,179 shares in the last quarter. Swiss National Bank grew its stake in shares of Zendesk by 3.4% in the first quarter. Swiss National Bank now owns 177,152 shares of the software maker’s stock valued at $8,480,000 after acquiring an additional 5,900 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Zendesk by 10.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 540,022 shares of the software maker’s stock valued at $25,851,000 after acquiring an additional 52,655 shares in the last quarter. Finally, Aperio Group LLC acquired a new position in shares of Zendesk in the first quarter valued at about $215,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Zendesk Company Profile

Zendesk, Inc, a software development company, provides SaaS products for organizations. Its flagship product is Zendesk Support, a system for tracking, prioritizing, and solving customer support tickets across various channels. The company also offers Zendesk Chat, a live chat software to connect with customers on Websites, in applications, and on mobile devices; Zendesk Talk, a cloud-based call center software; Zendesk Guide, a knowledge base that for customer self-service and support agent productivity; Zendesk Message, a customer messaging software; and Zendesk Explore that makes customer data accessible across an organization.

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Analyst Recommendations for Zendesk (NYSE:ZEN)

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