Zendesk (NYSE:ZEN) had its price objective lifted by Morgan Stanley from $62.00 to $65.00 in a research note published on Wednesday morning. Morgan Stanley currently has an overweight rating on the software maker’s stock.
Several other equities analysts also recently weighed in on ZEN. Craig Hallum raised their price target on Zendesk from $45.00 to $63.00 and gave the company a buy rating in a report on Friday, May 18th. KeyCorp restated a buy rating and set a $58.00 price target on shares of Zendesk in a report on Friday, May 18th. Stifel Nicolaus raised their price target on Zendesk from $45.00 to $50.00 and gave the company a hold rating in a report on Friday, May 18th. JMP Securities raised their price target on Zendesk from $55.00 to $60.00 and gave the company an outperform rating in a report on Friday, May 18th. Finally, ValuEngine upgraded Zendesk from a buy rating to a strong-buy rating in a report on Wednesday, May 2nd. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $48.63.
Shares of Zendesk stock opened at $52.54 on Wednesday. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 1.10. The firm has a market cap of $5.69 billion, a price-to-earnings ratio of -51.01 and a beta of 1.55. Zendesk has a 12 month low of $25.09 and a 12 month high of $60.26.
Zendesk (NYSE:ZEN) last announced its quarterly earnings data on Tuesday, May 1st. The software maker reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.05. The business had revenue of $129.79 million during the quarter, compared to analyst estimates of $126.76 million. Zendesk had a negative return on equity of 30.37% and a negative net margin of 24.18%. sell-side analysts anticipate that Zendesk will post -0.97 EPS for the current year.
In related news, Director Elizabeth A. Nelson sold 10,000 shares of Zendesk stock in a transaction dated Thursday, May 31st. The stock was sold at an average price of $56.68, for a total value of $566,800.00. Following the completion of the sale, the director now directly owns 15,810 shares in the company, valued at approximately $896,110.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP John Geschke sold 5,000 shares of Zendesk stock in a transaction dated Monday, April 16th. The stock was sold at an average price of $48.74, for a total value of $243,700.00. Following the completion of the sale, the senior vice president now owns 13,850 shares of the company’s stock, valued at $675,049. The disclosure for this sale can be found here. Insiders sold a total of 39,101 shares of company stock valued at $2,143,848 over the last quarter. 4.70% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AXA increased its holdings in Zendesk by 301.0% in the 4th quarter. AXA now owns 388,975 shares of the software maker’s stock worth $13,163,000 after buying an additional 291,975 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Zendesk by 10.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 540,022 shares of the software maker’s stock worth $25,851,000 after buying an additional 52,655 shares in the last quarter. Pier Capital LLC bought a new stake in Zendesk in the 4th quarter worth about $5,465,000. Hunt Lane Capital LP increased its holdings in Zendesk by 32.2% in the 4th quarter. Hunt Lane Capital LP now owns 900,000 shares of the software maker’s stock worth $30,456,000 after buying an additional 219,000 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in Zendesk by 33.6% in the 4th quarter. Alliancebernstein L.P. now owns 202,275 shares of the software maker’s stock worth $6,845,000 after buying an additional 50,865 shares in the last quarter. Institutional investors own 93.80% of the company’s stock.
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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