Zendesk, Inc. (NYSE:ZEN) Receives $149.69 Average Target Price from Analysts

Shares of Zendesk, Inc. (NYSE:ZEN) have been assigned an average recommendation of “Buy” from the sixteen brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $149.69.

ZEN has been the topic of a number of recent analyst reports. Canaccord Genuity dropped their price target on shares of Zendesk from $180.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, October 29th. Zacks Investment Research lowered shares of Zendesk from a “hold” rating to a “sell” rating in a research note on Thursday, September 30th. Craig Hallum dropped their price target on shares of Zendesk from $185.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, October 29th. Stifel Nicolaus lowered their target price on shares of Zendesk from $175.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, October 29th. Finally, Cowen lowered shares of Zendesk from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $140.00 to $115.00 in a research report on Friday, November 19th.

Shares of NYSE:ZEN traded up $2.42 on Friday, reaching $94.16. The company’s stock had a trading volume of 2,132,128 shares, compared to its average volume of 1,518,487. Zendesk has a 52-week low of $90.51 and a 52-week high of $166.60. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.57 and a quick ratio of 1.57. The stock’s 50-day moving average is $113.37 and its two-hundred day moving average is $126.77. The stock has a market capitalization of $11.38 billion, a P/E ratio of -48.04 and a beta of 1.05.

Zendesk (NYSE:ZEN) last issued its quarterly earnings results on Thursday, October 28th. The software maker reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17. Zendesk had a negative net margin of 18.59% and a negative return on equity of 31.60%. The business had revenue of $346.97 million for the quarter, compared to analyst estimates of $335.33 million. During the same period in the previous year, the business posted ($0.22) earnings per share. The business’s revenue was up 32.5% compared to the same quarter last year. Equities analysts forecast that Zendesk will post -0.82 earnings per share for the current fiscal year.

In other Zendesk news, insider John Geschke sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 7th. The shares were sold at an average price of $123.36, for a total transaction of $370,080.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Soren Abildgaard sold 2,187 shares of the firm’s stock in a transaction on Tuesday, September 7th. The shares were sold at an average price of $124.85, for a total transaction of $273,046.95. Following the completion of the transaction, the executive vice president now directly owns 5,117 shares in the company, valued at approximately $638,857.45. The disclosure for this sale can be found here. Insiders sold 121,454 shares of company stock worth $13,778,898 over the last quarter. Company insiders own 3.60% of the company’s stock.

Hedge funds have recently modified their holdings of the company. NEXT Financial Group Inc purchased a new position in shares of Zendesk in the 3rd quarter valued at $35,000. Quadrant Capital Group LLC raised its stake in shares of Zendesk by 86.8% in the 2nd quarter. Quadrant Capital Group LLC now owns 269 shares of the software maker’s stock valued at $39,000 after acquiring an additional 125 shares during the period. KB Financial Partners LLC acquired a new stake in Zendesk during the 1st quarter valued at $41,000. TCTC Holdings LLC acquired a new stake in Zendesk during the 3rd quarter valued at $41,000. Finally, Penserra Capital Management LLC grew its holdings in Zendesk by 34.4% during the 2nd quarter. Penserra Capital Management LLC now owns 383 shares of the software maker’s stock valued at $55,000 after purchasing an additional 98 shares in the last quarter. 94.36% of the stock is currently owned by institutional investors and hedge funds.

About Zendesk

Zendesk, Inc engages in the provision of customer service platform which enables companies to provide customer support. Its products and services include support; guide; chat; talk; message; inbox team email; explore; connect plus outbound; integrations and apps; embeddables; insights and analytics; and products update.

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Analyst Recommendations for Zendesk (NYSE:ZEN)

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