Shares of Zendesk Inc (NYSE:ZEN) have been assigned an average recommendation of “Buy” from the nineteen ratings firms that are covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $90.93.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research upgraded Zendesk from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a research note on Thursday, April 4th. Stifel Nicolaus boosted their price objective on Zendesk from $75.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. Wedbush restated an “outperform” rating and issued a $93.00 price objective on shares of Zendesk in a research note on Monday, April 29th. Canaccord Genuity upped their price target on Zendesk from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Bank of America reiterated a “buy” rating and set a $105.00 price target (up from $100.00) on shares of Zendesk in a research report on Wednesday, May 1st.
Zendesk stock traded up $0.96 during midday trading on Friday, reaching $86.45. The stock had a trading volume of 46,136 shares, compared to its average volume of 1,672,847. Zendesk has a 12 month low of $45.60 and a 12 month high of $89.07. The stock has a market capitalization of $9.23 billion, a P/E ratio of -91.64 and a beta of 1.64. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.54 and a current ratio of 1.54.
Zendesk (NYSE:ZEN) last announced its quarterly earnings data on Tuesday, April 30th. The software maker reported ($0.28) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.28). Zendesk had a negative return on equity of 25.37% and a negative net margin of 22.52%. The business had revenue of $181.48 million for the quarter, compared to analysts’ expectations of $179.53 million. During the same period in the previous year, the business posted $0.02 EPS. The firm’s quarterly revenue was up 39.8% compared to the same quarter last year. Equities research analysts forecast that Zendesk will post -1.07 EPS for the current fiscal year.
In other news, Director Elizabeth A. Nelson sold 5,000 shares of the stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $78.11, for a total transaction of $390,550.00. Following the completion of the sale, the director now owns 35,983 shares of the company’s stock, valued at $2,810,632.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Mikkel Svane sold 50,000 shares of the stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $78.61, for a total value of $3,930,500.00. Following the sale, the chief executive officer now directly owns 1,470,029 shares of the company’s stock, valued at approximately $115,558,979.69. The disclosure for this sale can be found here. In the last ninety days, insiders sold 91,787 shares of company stock valued at $7,332,636. 4.60% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in ZEN. Jefferies Group LLC raised its holdings in shares of Zendesk by 449.0% during the first quarter. Jefferies Group LLC now owns 25,000 shares of the software maker’s stock valued at $2,125,000 after acquiring an additional 20,446 shares in the last quarter. Utah Retirement Systems raised its holdings in shares of Zendesk by 1.9% during the first quarter. Utah Retirement Systems now owns 19,771 shares of the software maker’s stock valued at $1,681,000 after acquiring an additional 371 shares in the last quarter. Hsbc Holdings PLC bought a new position in shares of Zendesk during the first quarter valued at approximately $937,000. Wellington Management Group LLP raised its holdings in shares of Zendesk by 138.7% during the first quarter. Wellington Management Group LLP now owns 3,041,153 shares of the software maker’s stock valued at $258,499,000 after acquiring an additional 1,766,870 shares in the last quarter. Finally, Voya Investment Management LLC raised its holdings in shares of Zendesk by 2,005.4% during the first quarter. Voya Investment Management LLC now owns 683,936 shares of the software maker’s stock valued at $58,135,000 after acquiring an additional 651,451 shares in the last quarter. 94.16% of the stock is owned by hedge funds and other institutional investors.
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, applications, and mobile devices; Zendesk Talk, a cloud-based call center software; Zendesk Guide, a knowledge base that powers customer self-service and support agent productivity; Zendesk Sell, a sales force automation software to enhance productivity, processes, and pipeline visibility for sales teams; Zendesk Connect that manages customer communication across channels; and Zendesk Explore, which provides analytics for businesses to measure and enhance the customer experience.
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