UBS AG Reaffirms “Neutral” Rating for Zendesk, Inc. (ZEN)
UBS AG reaffirmed their neutral rating on shares of Zendesk, Inc. (NYSE:ZEN) in a research note published on Thursday, 99wallstreet.com reports. UBS AG currently has a $38.00 price objective on the software maker’s stock, up from their prior price objective of $37.00.
Several other research firms have also weighed in on ZEN. Stifel Nicolaus restated a neutral rating on shares of Zendesk in a report on Friday, November 3rd. Zacks Investment Research upgraded Zendesk from a hold rating to a buy rating and set a $33.00 target price on the stock in a report on Thursday, October 5th. Morgan Stanley raised their target price on Zendesk from $35.00 to $38.00 and gave the company an overweight rating in a report on Thursday, November 2nd. KeyCorp restated a buy rating and set a $35.00 target price on shares of Zendesk in a report on Friday, August 4th. Finally, Piper Jaffray Companies restated a buy rating and set a $33.00 target price on shares of Zendesk in a report on Tuesday, September 12th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of Buy and an average price target of $34.13.
Shares of Zendesk (NYSE ZEN) traded down $0.05 during trading hours on Thursday, hitting $35.27. The company had a trading volume of 883,400 shares, compared to its average volume of 982,479. Zendesk has a twelve month low of $19.77 and a twelve month high of $35.89.
Zendesk (NYSE:ZEN) last posted its earnings results on Wednesday, November 1st. The software maker reported ($0.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.04. Zendesk had a negative return on equity of 32.50% and a negative net margin of 27.43%. The company had revenue of $112.79 million for the quarter, compared to analyst estimates of $109.19 million. During the same period last year, the company earned ($0.04) earnings per share. The business’s revenue was up 39.7% compared to the same quarter last year. analysts predict that Zendesk will post -1.03 EPS for the current year.
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In related news, SVP John Geschke sold 10,000 shares of Zendesk stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $29.33, for a total transaction of $293,300.00. Following the sale, the senior vice president now directly owns 20,595 shares of the company’s stock, valued at $604,051.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Elena Gomez sold 13,155 shares of Zendesk stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $35.00, for a total value of $460,425.00. Following the sale, the chief financial officer now directly owns 16,858 shares in the company, valued at $590,030. The disclosure for this sale can be found here. Insiders sold 69,178 shares of company stock worth $2,232,916 over the last quarter. 5.30% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in ZEN. Oppenheimer Asset Management Inc. acquired a new stake in Zendesk during the first quarter worth about $103,000. Advisor Group Inc. grew its position in Zendesk by 44.3% during the second quarter. Advisor Group Inc. now owns 3,701 shares of the software maker’s stock worth $103,000 after buying an additional 1,137 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in Zendesk during the third quarter worth about $105,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Zendesk by 10.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,887 shares of the software maker’s stock worth $108,000 after buying an additional 352 shares in the last quarter. Finally, Fortaleza Asset Management Inc. acquired a new stake in Zendesk during the second quarter worth about $115,000. 96.07% of the stock is currently owned by institutional investors and hedge funds.
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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