Zendesk Inc (ZEN) Receives $43.77 Consensus Target Price from Brokerages

Zendesk Inc (NYSE:ZEN) has been assigned an average rating of “Buy” from the seventeen analysts that are currently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $43.77.

Several research firms have issued reports on ZEN. KeyCorp reiterated an “overweight” rating and issued a $53.00 target price (up from $43.00) on shares of Zendesk in a research note on Tuesday, March 13th. ValuEngine upgraded shares of Zendesk from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Piper Jaffray increased their target price on shares of Zendesk to $60.00 and gave the stock an “overweight” rating in a research note on Monday, March 12th. Morgan Stanley increased their target price on shares of Zendesk from $41.00 to $48.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Finally, Bank of America increased their target price on shares of Zendesk from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th.

How to Become a New Pot Stock Millionaire

NYSE ZEN traded up $1.13 on Wednesday, hitting $46.22. The stock had a trading volume of 195,767 shares, compared to its average volume of 1,192,952. Zendesk has a 52-week low of $24.49 and a 52-week high of $50.15. The stock has a market capitalization of $4,661.47, a PE ratio of -44.57 and a beta of 1.51.

Zendesk (NYSE:ZEN) last posted its earnings results on Tuesday, February 6th. The software maker reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. Zendesk had a negative net margin of 25.70% and a negative return on equity of 32.48%. The business had revenue of $123.43 million for the quarter, compared to analysts’ expectations of $119.68 million. During the same period in the prior year, the company posted ($0.04) EPS. The business’s revenue for the quarter was up 39.3% compared to the same quarter last year. analysts forecast that Zendesk will post -1 EPS for the current fiscal year.

In related news, insider Adrian Mcdermott sold 50,000 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $39.08, for a total transaction of $1,954,000.00. Following the transaction, the insider now owns 1,614,969 shares of the company’s stock, valued at approximately $63,112,988.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP John Geschke sold 5,000 shares of the stock in a transaction on Friday, January 12th. The shares were sold at an average price of $37.15, for a total transaction of $185,750.00. Following the transaction, the senior vice president now directly owns 16,795 shares in the company, valued at approximately $623,934.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 195,443 shares of company stock worth $7,979,925. Corporate insiders own 5.30% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN grew its holdings in shares of Zendesk by 14.0% during the 4th quarter. Wells Fargo & Company MN now owns 2,105,554 shares of the software maker’s stock valued at $71,251,000 after purchasing an additional 258,469 shares during the last quarter. Whale Rock Capital Management LLC grew its holdings in shares of Zendesk by 24.5% during the 4th quarter. Whale Rock Capital Management LLC now owns 1,805,901 shares of the software maker’s stock valued at $61,112,000 after purchasing an additional 355,577 shares during the last quarter. EMS Capital LP grew its holdings in shares of Zendesk by 35.0% during the 4th quarter. EMS Capital LP now owns 1,620,000 shares of the software maker’s stock valued at $54,821,000 after purchasing an additional 420,000 shares during the last quarter. Hunt Lane Capital LP grew its holdings in shares of Zendesk by 32.2% during the 4th quarter. Hunt Lane Capital LP now owns 900,000 shares of the software maker’s stock valued at $30,456,000 after purchasing an additional 219,000 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Zendesk by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 849,540 shares of the software maker’s stock valued at $28,748,000 after purchasing an additional 18,334 shares during the last quarter. 93.22% of the stock is currently owned by institutional investors.

COPYRIGHT VIOLATION WARNING: “Zendesk Inc (ZEN) Receives $43.77 Consensus Target Price from Brokerages” was posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this piece on another publication, it was copied illegally and republished in violation of United States and international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.dispatchtribunal.com/2018/04/09/zendesk-inc-zen-receives-43-77-consensus-target-price-from-brokerages.html.

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.

Analyst Recommendations for Zendesk (NYSE:ZEN)

Receive News & Ratings for Zendesk Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zendesk and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply