Zendesk Inc. (NYSE:ZEN) Receives $32.54 Average PT from Analysts
Zendesk Inc. (NYSE:ZEN) has been given a consensus rating of “Buy” by the seventeen ratings firms that are currently covering the company. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $32.54.
A number of research analysts have recently commented on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $33.00 target price on shares of Zendesk in a research note on Wednesday, September 28th. Zacks Investment Research cut Zendesk from a “buy” rating to a “hold” rating in a research note on Tuesday, September 20th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $35.00 target price on shares of Zendesk in a research note on Saturday, August 13th. Canaccord Genuity reaffirmed a “buy” rating and set a $35.00 target price on shares of Zendesk in a research note on Thursday, August 4th. Finally, RBC Capital Markets reaffirmed an “outperform” rating and set a $33.00 target price (up previously from $27.00) on shares of Zendesk in a research note on Wednesday, July 27th.
In other news, Director Caryn Marooney sold 32,033 shares of the stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $30.09, for a total transaction of $963,872.97. Following the completion of the sale, the director now owns 53,958 shares in the company, valued at approximately $1,623,596.22. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Adrian Mcdermott sold 71,945 shares of the stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $29.31, for a total value of $2,108,707.95. Following the sale, the senior vice president now owns 134,592 shares of the company’s stock, valued at approximately $3,944,891.52. The disclosure for this sale can be found here. Company insiders own 17.00% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. BNP Paribas Arbitrage SA raised its stake in shares of Zendesk by 112.8% in the third quarter. BNP Paribas Arbitrage SA now owns 6,806 shares of the company’s stock valued at $209,000 after buying an additional 3,607 shares in the last quarter. BlackRock Inc. raised its stake in shares of Zendesk by 100.5% in the second quarter. BlackRock Inc. now owns 7,675 shares of the company’s stock valued at $202,000 after buying an additional 3,847 shares in the last quarter. Amalgamated Bank acquired a new stake in shares of Zendesk during the second quarter valued at approximately $264,000. Capstone Investment Advisors LLC acquired a new stake in shares of Zendesk during the second quarter valued at approximately $232,000. Finally, AQR Capital Management LLC acquired a new stake in shares of Zendesk during the second quarter valued at approximately $242,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.
Zendesk (NYSE:ZEN) opened at 29.52 on Friday. The firm’s 50-day moving average price is $30.52 and its 200-day moving average price is $26.71. Zendesk has a 52 week low of $14.39 and a 52 week high of $31.88. The stock’s market cap is $2.77 billion.
Zendesk (NYSE:ZEN) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. Zendesk had a negative return on equity of 30.61% and a negative net margin of 37.10%. The business had revenue of $74.20 million for the quarter, compared to the consensus estimate of $72.34 million. The company’s quarterly revenue was up 53.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.08) earnings per share. Equities analysts predict that Zendesk will post ($0.04) earnings per share for the current fiscal year.
Zendesk Company Profile
Zendesk, Inc is a software development company. The Company provides software as a service (SaaS) customer service platform. The Company’s platform consolidates the data from customer interactions and provides organizations with analytics and performance benchmarking. The Company also provides SaaS live chat software that can be utilized independently to facilitate communications between organizations and their customers.
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