Piper Jaffray Companies restated their buy rating on shares of Zendesk (NYSE:ZEN) in a research report released on Tuesday, January 23rd. They currently have a $42.00 target price on the software maker’s stock.
A number of other research analysts also recently weighed in on the company. Morgan Stanley upped their target price on Zendesk from $33.00 to $35.00 and gave the stock an overweight rating in a report on Monday, October 23rd. KeyCorp reiterated a buy rating and set a $35.00 target price on shares of Zendesk in a report on Sunday, October 15th. Zacks Investment Research upgraded Zendesk from a hold rating to a buy rating and set a $33.00 target price on the stock in a report on Thursday, October 5th. Canaccord Genuity upped their target price on Zendesk from $34.00 to $36.00 and gave the stock a buy rating in a report on Thursday, November 2nd. Finally, ValuEngine cut Zendesk from a hold rating to a sell rating in a research report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. Zendesk has an average rating of Buy and a consensus price target of $40.31.
Zendesk (NYSE:ZEN) opened at $42.60 on Tuesday. Zendesk has a twelve month low of $24.49 and a twelve month high of $42.82. The company has a market capitalization of $4,270.00, a PE ratio of -38.38 and a beta of 1.87.
Zendesk (NYSE:ZEN) last announced its quarterly earnings results 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 company had revenue of $123.43 million for the quarter, compared to the consensus estimate of $119.68 million. During the same quarter in the previous year, the business earned ($0.04) EPS. Zendesk’s revenue was up 39.3% compared to the same quarter last year. analysts expect that Zendesk will post -1 earnings per share for the current fiscal year.
In other news, SVP John Geschke sold 5,000 shares of the stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $34.23, for a total transaction of $171,150.00. Following the transaction, the senior vice president now directly owns 16,495 shares of the company’s stock, valued at approximately $564,623.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Elena Gomez sold 1,604 shares of the stock in a transaction on Monday, November 20th. The shares were sold at an average price of $34.37, for a total value of $55,129.48. Following the transaction, the chief financial officer now directly owns 4,430 shares in the company, valued at $152,259.10. The disclosure for this sale can be found here. Insiders sold a total of 126,699 shares of company stock worth $4,814,238 over the last ninety days. 5.30% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC purchased a new stake in shares of Zendesk in the 2nd quarter worth $137,975,000. BlackRock Inc. increased its stake in shares of Zendesk by 54.9% in the 2nd quarter. BlackRock Inc. now owns 8,835,508 shares of the software maker’s stock worth $245,450,000 after purchasing an additional 3,133,287 shares in the last quarter. Wasatch Advisors Inc. increased its stake in shares of Zendesk by 26.5% in the 2nd 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. Ameriprise Financial Inc. increased its stake in shares of Zendesk by 755.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 827,334 shares of the software maker’s stock worth $24,083,000 after purchasing an additional 730,570 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Zendesk by 10.9% in the 2nd 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. 93.93% of the stock is currently owned by hedge funds and other institutional investors.
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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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