Stock analysts at Wedbush started coverage on shares of Zendesk (NYSE:ZEN) in a research note issued to investors on Thursday, The Fly reports. The firm set an “outperform” rating on the software maker’s stock.

A number of other research analysts have also commented on ZEN. Zacks Investment Research raised shares of Zendesk from a “sell” rating to a “hold” rating in a research report on Saturday, November 3rd. Rosenblatt Securities reaffirmed a “buy” rating and set a $70.00 price objective on shares of Zendesk in a research report on Thursday, November 15th. Stifel Nicolaus upped their price objective on shares of Zendesk from $60.00 to $68.00 and gave the company a “hold” rating in a research report on Tuesday, September 11th. UBS Group set a $56.00 price objective on shares of Zendesk and gave the company a “hold” rating in a research report on Wednesday, October 31st. Finally, Deutsche Bank cut their price objective on shares of Zendesk from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, October 31st. Four equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $65.83.

Shares of ZEN traded up $1.40 during trading hours on Thursday, reaching $59.88. 2,318,000 shares of the company traded hands, compared to its average volume of 1,488,085. The firm has a market capitalization of $6.26 billion, a P/E ratio of -58.14 and a beta of 1.85. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.79 and a current ratio of 1.78. Zendesk has a 1-year low of $33.13 and a 1-year high of $72.76.

Zendesk (NYSE:ZEN) last announced its quarterly earnings data on Tuesday, October 30th. The software maker reported $0.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.05. The business had revenue of $154.83 million during the quarter, compared to analyst estimates of $151.78 million. Zendesk had a negative net margin of 22.64% and a negative return on equity of 26.15%. The firm’s revenue for the quarter was up 37.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.02) earnings per share. As a group, equities analysts forecast that Zendesk will post -0.92 earnings per share for the current year.

In related news, COO John T. Keiser sold 4,467 shares of the company’s stock in a transaction dated Friday, November 30th. The shares were sold at an average price of $60.00, for a total value of $268,020.00. Following the sale, the chief operating officer now owns 27,013 shares of the company’s stock, valued at $1,620,780. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP John Geschke sold 5,000 shares of the company’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $69.20, for a total transaction of $346,000.00. Following the completion of the sale, the senior vice president now directly owns 17,665 shares in the company, valued at approximately $1,222,418. The disclosure for this sale can be found here. In the last three months, insiders sold 113,325 shares of company stock worth $6,563,500. 4.70% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of the business. DekaBank Deutsche Girozentrale grew its stake in Zendesk by 79.8% during the third quarter. DekaBank Deutsche Girozentrale now owns 2,086 shares of the software maker’s stock worth $145,000 after buying an additional 926 shares during the last quarter. Advisors Asset Management Inc. grew its stake in Zendesk by 27.5% during the third quarter. Advisors Asset Management Inc. now owns 5,830 shares of the software maker’s stock worth $414,000 after buying an additional 1,258 shares during the last quarter. Xact Kapitalforvaltning AB grew its stake in Zendesk by 8.8% during the third quarter. Xact Kapitalforvaltning AB now owns 16,046 shares of the software maker’s stock worth $1,139,000 after buying an additional 1,300 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in Zendesk by 13.4% during the second quarter. Great West Life Assurance Co. Can now owns 11,264 shares of the software maker’s stock worth $614,000 after buying an additional 1,333 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd grew its stake in Zendesk by 211.8% during the third quarter. Harvest Fund Management Co. Ltd now owns 2,242 shares of the software maker’s stock worth $159,000 after buying an additional 1,523 shares during the last quarter. 92.86% of the stock is currently owned by hedge funds and other institutional investors.

About Zendesk

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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The Fly

Analyst Recommendations for Zendesk (NYSE:ZEN)

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