Zendesk Inc (NYSE:ZEN) – Equities research analysts at KeyCorp cut their FY2018 earnings per share (EPS) estimates for shares of Zendesk in a report released on Monday. KeyCorp analyst B. Bracelin now expects that the software maker will post earnings of ($1.04) per share for the year, down from their previous forecast of ($1.03). KeyCorp currently has a “Overweight” rating and a $53.00 target price on the stock.
Several other equities analysts have also recently issued reports on the company. Piper Jaffray Companies boosted their price target on Zendesk to $60.00 and gave the company an “overweight” rating in a research report on Monday, March 12th. Guggenheim restated a “buy” rating and issued a $44.00 price target on shares of Zendesk in a research report on Wednesday, February 7th. Cowen boosted their price target on Zendesk from $39.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Morgan Stanley boosted their price target on Zendesk from $41.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Finally, Bank of America boosted their price target on Zendesk from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock. Zendesk has an average rating of “Buy” and an average target price of $42.33.
Zendesk (ZEN) opened at $46.92 on Thursday. Zendesk has a 52-week low of $24.49 and a 52-week high of $49.42.
Zendesk (NYSE:ZEN) last posted its earnings results on Tuesday, February 6th. The software maker reported ($0.01) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.03. Zendesk had a negative return on equity of 32.48% and a negative net margin of 25.70%. The business had revenue of $123.43 million for the quarter, compared to analysts’ expectations of $119.68 million. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. The business’s revenue was up 39.3% compared to the same quarter last year.
In other Zendesk news, insider Adrian Mcdermott sold 1,353 shares of Zendesk stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $34.19, for a total value of $46,259.07. Following the sale, the insider now owns 80,948 shares of the company’s stock, valued at approximately $2,767,612.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John Geschke sold 787 shares of Zendesk stock in a transaction that occurred on Wednesday, January 3rd. The shares were 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 in the company, valued at approximately $440,999.10. The disclosure for this sale can be found here. Insiders sold a total of 196,858 shares of company stock worth $7,930,928 in the last ninety days. 5.30% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in ZEN. First Trust Advisors LP boosted its holdings in Zendesk by 7.7% in the 3rd quarter. First Trust Advisors LP now owns 41,061 shares of the software maker’s stock valued at $1,195,000 after purchasing an additional 2,934 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Zendesk during the 3rd quarter worth approximately $105,000. Swiss National Bank boosted its stake in shares of Zendesk by 2.4% during the 3rd quarter. Swiss National Bank now owns 165,452 shares of the software maker’s stock worth $4,816,000 after acquiring an additional 3,800 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Zendesk by 86.5% during the 3rd quarter. Sei Investments Co. now owns 28,544 shares of the software maker’s stock worth $831,000 after acquiring an additional 13,242 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of Zendesk by 9.1% during the 3rd quarter. New York State Common Retirement Fund now owns 113,308 shares of the software maker’s stock worth $3,298,000 after acquiring an additional 9,408 shares in the last quarter. 93.22% of the stock is currently owned by 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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