Zendesk (ZEN) Hits New 12-Month High at $43.36

Zendesk Inc (NYSE:ZEN) hit a new 52-week high during trading on Tuesday . The stock traded as high as $43.36 and last traded at $43.44, with a volume of 472733 shares trading hands. The stock had previously closed at $42.38.

Several brokerages recently commented on ZEN. UBS Group restated a “neutral” rating and set a $38.00 target price (up previously from $37.00) on shares of Zendesk in a research report on Thursday, November 9th. Royal Bank of Canada reiterated a “buy” rating and issued a $42.00 price target on shares of Zendesk in a report on Wednesday, January 17th. Canaccord Genuity increased their price target on Zendesk from $34.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. Piper Jaffray Companies reiterated a “buy” rating and issued a $42.00 price target on shares of Zendesk in a report on Tuesday, January 23rd. Finally, Bank of America increased their price target on Zendesk from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $40.31.

The firm has a market cap of $4,301.87, a P/E ratio of -39.23 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) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.03. The firm had revenue of $123.43 million during the quarter, compared to the consensus estimate of $119.68 million. Zendesk had a negative return on equity of 32.88% and a negative net margin of 25.70%. The company’s quarterly revenue was up 39.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.04) earnings per share. analysts predict that Zendesk Inc will post -1 EPS for the current fiscal year.

In other news, SVP John Geschke sold 787 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $35.05, for a total value of $27,584.35. Following the completion of the sale, the senior vice president now directly owns 12,582 shares of the company’s stock, valued at $440,999.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Elena Gomez sold 8,079 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $35.00, for a total value of $282,765.00. Following the completion of the sale, the chief financial officer now directly owns 5,151 shares of the company’s stock, valued at $180,285. The disclosure for this sale can be found here. Over the last three months, insiders sold 168,012 shares of company stock valued at $6,560,973. Company insiders own 5.30% of the company’s stock.

Several institutional investors have recently modified their holdings of ZEN. Alyeska Investment Group L.P. purchased a new stake in shares of Zendesk during the third quarter valued at approximately $9,017,000. New York State Common Retirement Fund increased its position in Zendesk by 9.1% in the third quarter. New York State Common Retirement Fund now owns 113,308 shares of the software maker’s stock worth $3,298,000 after buying an additional 9,408 shares during the last quarter. Legal & General Group Plc increased its position in Zendesk by 12.5% in the third quarter. Legal & General Group Plc now owns 40,365 shares of the software maker’s stock worth $1,170,000 after buying an additional 4,488 shares during the last quarter. Bank of New York Mellon Corp increased its position in Zendesk by 15.9% in the third quarter. Bank of New York Mellon Corp now owns 604,805 shares of the software maker’s stock worth $17,605,000 after buying an additional 82,956 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in Zendesk by 54.2% in the second quarter. Public Employees Retirement System of Ohio now owns 110,492 shares of the software maker’s stock worth $3,069,000 after buying an additional 38,859 shares during the last quarter. 92.33% of the stock is owned by hedge funds and other institutional investors.

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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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