Wedbush initiated coverage on shares of Zendesk (NYSE:ZEN) in a research report sent to investors on Thursday morning, MarketBeat reports. The brokerage issued an outperform rating and a $71.00 price target on the software maker’s stock.
Several other analysts have also issued reports on the stock. Rosenblatt Securities reiterated a buy rating and set a $70.00 price target on shares of Zendesk in a research report on Thursday, November 15th. Zacks Investment Research upgraded shares of Zendesk from a sell rating to a hold rating in a research report on Saturday, November 3rd. UBS Group set a $56.00 price target on shares of Zendesk and gave the stock a hold rating in a research report on Wednesday, October 31st. Deutsche Bank reduced their price target on shares of Zendesk from $85.00 to $80.00 and set a buy rating on the stock in a research report on Wednesday, October 31st. Finally, Morgan Stanley reduced their price target on shares of Zendesk from $84.00 to $81.00 and set an overweight rating on the stock in a research report on Tuesday, October 23rd. Four investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Zendesk presently has an average rating of Buy and a consensus price target of $66.11.
Shares of ZEN opened at $58.40 on Thursday. The company has a current ratio of 1.78, a quick ratio of 1.79 and a debt-to-equity ratio of 1.12. The company has a market cap of $6.25 billion, a PE ratio of -56.70 and a beta of 1.85. Zendesk has a 12 month low of $33.13 and a 12 month high of $72.76.
Zendesk (NYSE:ZEN) last posted its quarterly earnings results on Tuesday, October 30th. The software maker reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.05. The business had revenue of $154.83 million for the quarter, compared to analyst estimates of $151.78 million. Zendesk had a negative net margin of 22.64% and a negative return on equity of 26.15%. The firm’s revenue for the quarter was up 37.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.02) EPS. As a group, equities analysts predict that Zendesk will post -0.92 EPS for the current year.
In other Zendesk news, Director Elizabeth A. Nelson sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $70.42, for a total value of $704,200.00. Following the sale, the director now owns 40,983 shares in the company, valued at $2,886,022.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John Geschke sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $69.20, for a total transaction of $346,000.00. Following the completion of the sale, the senior vice president now owns 17,665 shares in the company, valued at approximately $1,222,418. The disclosure for this sale can be found here. Insiders sold 109,325 shares of company stock worth $6,283,500 in the last 90 days. Company insiders own 4.70% of the company’s stock.
Institutional investors have recently modified their holdings of the business. DekaBank Deutsche Girozentrale boosted its position in Zendesk by 79.8% in the third quarter. DekaBank Deutsche Girozentrale now owns 2,086 shares of the software maker’s stock valued at $145,000 after buying an additional 926 shares in the last quarter. Catalyst Capital Advisors LLC lifted its holdings in shares of Zendesk by 2,509.9% during the second quarter. Catalyst Capital Advisors LLC now owns 2,114 shares of the software maker’s stock worth $115,000 after purchasing an additional 2,033 shares during the period. Harvest Fund Management Co. Ltd lifted its holdings in shares of Zendesk by 211.8% during the third quarter. Harvest Fund Management Co. Ltd now owns 2,242 shares of the software maker’s stock worth $159,000 after purchasing an additional 1,523 shares during the period. Ibex Investors LLC acquired a new position in shares of Zendesk during the third quarter worth $219,000. Finally, Russell Investments Group Ltd. acquired a new position in shares of Zendesk during the second quarter worth $180,000. Hedge funds and other institutional investors own 92.86% of the company’s stock.
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.
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