Zendesk, Inc. (ZEN) Rating Reiterated by KeyCorp
Several other brokerages have also issued reports on ZEN. BidaskClub lowered Zendesk from a strong-buy rating to a buy rating in a research report on Thursday, June 29th. Zacks Investment Research downgraded Zendesk from a hold rating to a sell rating in a research report on Wednesday, May 10th. Stifel Nicolaus reaffirmed a hold rating on shares of Zendesk in a research report on Friday, July 21st. UBS AG reaffirmed a buy rating and set a $38.00 price target (up previously from $36.00) on shares of Zendesk in a research report on Friday, May 5th. Finally, Piper Jaffray Companies set a $33.00 price target on Zendesk and gave the stock a buy rating in a research report on Saturday, August 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. Zendesk presently has a consensus rating of Buy and an average price target of $33.00.
Zendesk (NYSE:ZEN) opened at 27.26 on Friday. The firm’s market cap is $2.74 billion. Zendesk has a 52-week low of $19.77 and a 52-week high of $31.88. The stock has a 50 day moving average of $28.03 and a 200-day moving average of $27.55.
Zendesk (NYSE:ZEN) last issued its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $0.20. Zendesk had a negative net margin of 29.34% and a negative return on equity of 32.10%. The business had revenue of $101.30 million during the quarter, compared to analyst estimates of $99.47 million. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. Zendesk’s revenue for the quarter was up 36.5% compared to the same quarter last year. On average, analysts expect that Zendesk will post ($0.17) EPS for the current year.
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In other news, insider Adrian Mcdermott sold 1,766 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $26.42, for a total transaction of $46,657.72. Following the sale, the insider now owns 80,435 shares in the company, valued at approximately $2,125,092.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP John Geschke sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $29.34, for a total value of $293,400.00. Following the sale, the senior vice president now owns 19,810 shares in the company, valued at approximately $581,225.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 115,392 shares of company stock valued at $3,248,201. Insiders own 5.30% of the company’s stock.
Large investors have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Zendesk by 81,570.3% in the first quarter. BlackRock Inc. now owns 5,702,221 shares of the software maker’s stock worth $159,888,000 after buying an additional 5,695,239 shares in the last quarter. Janus Henderson Group PLC bought a new stake in shares of Zendesk during the second quarter worth about $137,975,000. JPMorgan Chase & Co. boosted its stake in shares of Zendesk by 77.9% in the second quarter. JPMorgan Chase & Co. now owns 2,110,503 shares of the software maker’s stock worth $58,629,000 after buying an additional 923,875 shares in the last quarter. Wasatch Advisors Inc. boosted its stake in shares of Zendesk by 26.5% in the second quarter. Wasatch Advisors Inc. now owns 3,919,479 shares of the software maker’s stock worth $108,883,000 after buying an additional 820,465 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Zendesk by 10.9% in the second quarter. Vanguard Group Inc. now owns 7,365,549 shares of the software maker’s stock worth $204,615,000 after buying an additional 721,652 shares in the last quarter. Institutional investors own 96.06% of the company’s stock.
Zendesk, Inc (Zendesk) is a software development company. The Zendesk family of products is built to work together to help organizations understand and manage customer relationships. All Zendesk products share a common interface and are being developed to support a shared services infrastructure and common customer data platform.
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