Piper Jaffray Companies reiterated their buy rating on shares of Zendesk, Inc. (NYSE:ZEN) in a research report released on Tuesday. Piper Jaffray Companies currently has a $33.00 price objective on the software maker’s stock.

Several other brokerages have also commented on ZEN. Stifel Nicolaus reaffirmed a hold rating on shares of Zendesk in a research report on Friday, July 21st. Zacks Investment Research lowered shares of Zendesk from a hold rating to a sell rating in a research report on Friday, June 23rd. KeyCorp reaffirmed a buy rating and issued a $35.00 price objective on shares of Zendesk in a research report on Friday, August 4th. Evercore ISI began coverage on shares of Zendesk in a research report on Friday, September 8th. They issued an outperform rating and a $34.00 price objective for the company. Finally, BidaskClub lowered shares of Zendesk from a strong-buy rating to a buy rating in a research report on Thursday, June 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of Buy and an average price target of $33.09.

Shares of Zendesk (ZEN) opened at 28.66 on Tuesday. The firm’s 50-day moving average is $27.70 and its 200-day moving average is $27.64. The company’s market capitalization is $2.88 billion. Zendesk has a 1-year low of $19.77 and a 1-year high of $31.36.

Zendesk (NYSE:ZEN) last announced its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.26) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.20). The company had revenue of $101.30 million during the quarter, compared to analysts’ expectations of $99.47 million. Zendesk had a negative net margin of 29.34% and a negative return on equity of 32.10%. The business’s revenue for the quarter was up 36.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.06) earnings per share. Analysts forecast that Zendesk will post ($0.17) earnings per share for the current fiscal year.

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In other news, CFO Elena Gomez sold 1,431 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $27.06, for a total transaction of $38,722.86. Following the sale, the chief financial officer now owns 6,157 shares of the company’s stock, valued at approximately $166,608.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Adrian Mcdermott sold 1,766 shares of the firm’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $27.61, for a total transaction of $48,759.26. Following the sale, the insider now directly owns 80,145 shares in the company, valued at approximately $2,212,803.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 127,085 shares of company stock worth $3,587,804. 5.30% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of ZEN. BlackRock Inc. grew its stake in shares of Zendesk by 81,570.3% during the 1st quarter. BlackRock Inc. now owns 5,702,221 shares of the software maker’s stock worth $159,888,000 after purchasing an additional 5,695,239 shares during the period. Janus Henderson Group PLC acquired a new stake in shares of Zendesk during the 2nd quarter worth approximately $137,975,000. JPMorgan Chase & Co. grew its stake in shares of Zendesk by 77.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,110,503 shares of the software maker’s stock worth $58,629,000 after purchasing an additional 923,875 shares during the period. Wasatch Advisors Inc. grew its stake in shares of Zendesk by 26.5% during the 2nd quarter. Wasatch Advisors Inc. now owns 3,919,479 shares of the software maker’s stock worth $108,883,000 after purchasing an additional 820,465 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Zendesk by 10.9% during the 2nd quarter. Vanguard Group Inc. now owns 7,365,549 shares of the software maker’s stock worth $204,615,000 after purchasing an additional 721,652 shares during the period. 96.06% of the stock is currently owned by institutional investors and hedge funds.

Zendesk Company Profile

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.

Analyst Recommendations for Zendesk (NYSE:ZEN)

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