Stephens Downgrades Zendesk, Inc. (ZEN) to Underweight
Zendesk, Inc. (NYSE:ZEN) was downgraded by analysts at Stephens from an “equal weight” rating to an “underweight” rating in a research report issued to clients and investors on Monday, MarketBeat reports.
Other analysts have also issued reports about the stock. BidaskClub lowered shares of Zendesk from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 10th. ValuEngine lowered shares of Zendesk from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Zacks Investment Research upgraded shares of Zendesk from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Piper Jaffray Companies set a $33.00 target price on shares of Zendesk and gave the company a “buy” rating in a research report on Saturday, August 5th. Finally, KeyCorp restated a “buy” rating and set a $35.00 target price on shares of Zendesk in a research report on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $33.18.
Zendesk (NYSE ZEN) traded down 5.08% on Monday, hitting $29.53. 1,970,147 shares of the stock were exchanged. The stock’s market cap is $2.97 billion. The company has a 50-day moving average of $28.30 and a 200-day moving average of $27.80. Zendesk has a 12 month low of $19.77 and a 12 month high of $31.36.
Zendesk (NYSE:ZEN) last announced its earnings results on Thursday, August 3rd. The software maker reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.20). The business had revenue of $101.30 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 36.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.06) earnings per share. On average, equities analysts predict that Zendesk will post ($0.17) EPS for the current year.
In related news, Director Caryn Marooney sold 1,693 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $30.10, for a total transaction of $50,959.30. Following the sale, the director now owns 53,948 shares of the company’s stock, valued at $1,623,834.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Adrian Mcdermott sold 1,766 shares of the company’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $29.11, for a total transaction of $51,408.26. Following the sale, the insider now directly owns 80,290 shares in the company, valued at approximately $2,337,241.90. The disclosure for this sale can be found here. Insiders sold 91,315 shares of company stock worth $2,587,980 in the last three months. Insiders own 5.30% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its stake in Zendesk by 28.7% during the first quarter. Goldman Sachs Group Inc. now owns 337,329 shares of the software maker’s stock valued at $9,458,000 after purchasing an additional 75,286 shares in the last quarter. Teacher Retirement System of Texas bought a new position in Zendesk during the second quarter valued at $216,000. Morgan Stanley increased its position in Zendesk by 3.1% during the first quarter. Morgan Stanley now owns 1,141,934 shares of the software maker’s stock valued at $32,020,000 after acquiring an additional 34,621 shares during the last quarter. JPMorgan Chase & Co. increased its position in Zendesk by 77.9% during the second quarter. JPMorgan Chase & Co. now owns 2,110,503 shares of the software maker’s stock valued at $58,629,000 after acquiring an additional 923,875 shares during the last quarter. Finally, Legato Capital Management LLC bought a new position in Zendesk during the second quarter valued at $492,000. 96.24% of the stock is currently owned by institutional investors.
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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