Zendesk Inc. (NYSE:ZEN)‘s stock had its “buy” rating reaffirmed by equities research analysts at JMP Securities in a research note issued on Monday.

Several other brokerages have also recently weighed in on ZEN. RBC Capital Markets reissued an “outperform” rating and set a $33.00 price target (up previously from $27.00) on shares of Zendesk in a research report on Wednesday, July 27th. Piper Jaffray Cos. reissued an “overweight” rating and set a $35.00 price target on shares of Zendesk in a research report on Wednesday, August 3rd. Rosenblatt Securities reissued a “buy” rating and set a $33.00 price target on shares of Zendesk in a research report on Wednesday, September 28th. Royal Bank Of Canada boosted their price target on shares of Zendesk from $27.00 to $33.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. Finally, Zacks Investment Research raised shares of Zendesk from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Saturday, October 22nd. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $32.27.

Analyst Recommendations for Zendesk (NYSE:ZEN)

Zendesk (NYSE:ZEN) traded up 0.36% on Monday, reaching $22.35. 256,263 shares of the company traded hands. Zendesk has a 1-year low of $14.39 and a 1-year high of $31.88. The stock’s market capitalization is $2.13 billion. The stock has a 50 day moving average of $26.25 and a 200-day moving average of $27.51.

Zendesk (NYSE:ZEN) last released its earnings results on Tuesday, November 1st. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.02. Zendesk had a negative net margin of 36.27% and a negative return on equity of 32.56%. The business earned $80.70 million during the quarter. During the same period in the previous year, the company earned ($0.05) EPS. Zendesk’s quarterly revenue was up 44.9% compared to the same quarter last year. On average, equities analysts anticipate that Zendesk will post ($0.24) EPS for the current year.

In other Zendesk news, Chairman Mikkel Svane sold 50,000 shares of the business’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $24.10, for a total transaction of $1,205,000.00. Following the sale, the chairman now directly owns 1,897,219 shares in the company, valued at $45,722,977.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Anne Raimondi sold 100,000 shares of the business’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $30.40, for a total transaction of $3,040,000.00. Following the sale, the senior vice president now owns 111,431 shares in the company, valued at $3,387,502.40. The disclosure for this sale can be found here. Company insiders own 17.00% of the company’s stock.

A number of hedge funds have recently modified their holdings of the company. California State Teachers Retirement System raised its stake in shares of Zendesk by 42.1% in the second quarter. California State Teachers Retirement System now owns 170,480 shares of the company’s stock worth $4,497,000 after buying an additional 50,473 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Zendesk by 29.7% in the second quarter. Bank of New York Mellon Corp now owns 363,859 shares of the company’s stock worth $9,599,000 after buying an additional 83,274 shares during the period. Gilder Gagnon Howe & Co. LLC raised its stake in shares of Zendesk by 109.0% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 433,772 shares of the company’s stock worth $11,443,000 after buying an additional 226,273 shares during the period. Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of Zendesk by 59.5% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 158,500 shares of the company’s stock worth $4,181,000 after buying an additional 59,100 shares during the period. Finally, Glynn Capital Management LLC raised its stake in shares of Zendesk by 5.1% in the second quarter. Glynn Capital Management LLC now owns 172,910 shares of the company’s stock worth $4,561,000 after buying an additional 8,390 shares during the period. Institutional investors own 84.32% of the company’s stock.

About Zendesk

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.

5 Day Chart for NYSE:ZEN

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