Zendesk, Inc. (NYSE:ZEN) Receives $148.92 Average Price Target from Brokerages

Zendesk, Inc. (NYSE:ZEN) has earned a consensus recommendation of “Buy” from the sixteen brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $148.92.

A number of research analysts have weighed in on ZEN shares. Piper Sandler reduced their target price on Zendesk from $122.00 to $112.00 and set a “neutral” rating for the company in a report on Friday, November 19th. Bank of America lowered Zendesk from a “buy” rating to a “neutral” rating in a report on Friday, October 29th. cut their price objective on Zendesk from $180.00 to $140.00 and set a “buy” rating for the company in a report on Friday, October 29th. Barclays began coverage on Zendesk in a report on Wednesday, October 20th. They set an “overweight” rating and a $170.00 price objective for the company. Finally, Craig Hallum cut their price objective on Zendesk from $150.00 to $140.00 and set a “buy” rating for the company in a report on Tuesday, November 30th.

ZEN stock traded up $1.26 during mid-day trading on Friday, reaching $100.41. 1,369,306 shares of the company traded hands, compared to its average volume of 1,560,230. 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 company has a market capitalization of $12.21 billion, a P/E ratio of -51.28 and a beta of 1.09. Zendesk has a 52-week low of $90.51 and a 52-week high of $166.60. The company has a fifty day moving average price of $100.42 and a 200-day moving average price of $117.63.

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

In other Zendesk news, EVP Soren Abildgaard sold 251 shares of the business’s stock in a transaction that occurred on Wednesday, October 20th. The stock was sold at an average price of $129.00, for a total value of $32,379.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Adrian Mcdermott sold 9,360 shares of the business’s stock in a transaction that occurred on Monday, November 1st. The shares were sold at an average price of $103.66, for a total value of $970,257.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,972 shares of company stock valued at $11,255,112. 3.60% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Comerica Bank raised its holdings in shares of Zendesk by 15.9% during the second quarter. Comerica Bank now owns 45,466 shares of the software maker’s stock valued at $5,456,000 after acquiring an additional 6,223 shares in the last quarter. Advisor Resource Council bought a new position in shares of Zendesk during the second quarter valued at approximately $1,299,000. Wexford Capital LP bought a new position in shares of Zendesk during the second quarter valued at approximately $3,175,000. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Zendesk during the second quarter valued at approximately $31,625,000. Finally, Jag Capital Management LLC raised its holdings in shares of Zendesk by 9.1% during the third quarter. Jag Capital Management LLC now owns 34,865 shares of the software maker’s stock valued at $4,058,000 after acquiring an additional 2,910 shares in the last quarter. Hedge funds and other institutional investors own 96.30% of the company’s stock.

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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