Shares of Zendesk, Inc. (NYSE:ZEN) have been assigned an average recommendation of “Buy” from the eighteen research firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $34.15.

Several research analysts have issued reports on the stock. BidaskClub cut shares of Zendesk from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 10th. Morgan Stanley lifted their target price on shares of Zendesk from $33.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, October 23rd. KeyCorp reaffirmed a “buy” rating and issued a $35.00 target price on shares of Zendesk in a report on Sunday, October 15th. Zacks Investment Research raised shares of Zendesk from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a report on Thursday, October 5th. Finally, Piper Jaffray Companies set a $33.00 target price on shares of Zendesk and gave the stock a “buy” rating in a report on Saturday, August 5th.

Shares of Zendesk (NYSE:ZEN) traded down $0.22 during trading on Thursday, reaching $33.39. 1,190,000 shares of the company’s stock traded hands, compared to its average volume of 964,916. Zendesk has a twelve month low of $19.81 and a twelve month high of $35.89.

Zendesk (NYSE:ZEN) last issued its earnings results on Wednesday, November 1st. The software maker reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.04. The business had revenue of $112.79 million during the quarter, compared to analysts’ expectations of $109.19 million. Zendesk had a negative net margin of 27.43% and a negative return on equity of 32.50%. The business’s revenue for the quarter was up 39.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.04) earnings per share. sell-side analysts predict that Zendesk will post -1.03 EPS for the current fiscal year.

In other news, CFO Elena Gomez sold 8,079 shares of Zendesk stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $35.00, for a total value of $282,765.00. Following the completion of the sale, the chief financial officer now directly owns 5,151 shares in the company, valued at $180,285. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Adrian Mcdermott sold 1,766 shares of Zendesk stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $28.87, for a total transaction of $50,984.42. Following the completion of the sale, the insider now owns 80,581 shares of the company’s stock, valued at $2,326,373.47. The disclosure for this sale can be found here. Insiders sold 153,426 shares of company stock valued at $5,227,416 over the last quarter. Company insiders own 5.30% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Teacher Retirement System of Texas bought a new stake in Zendesk during the second quarter valued at approximately $216,000. JPMorgan Chase & Co. grew 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 buying an additional 923,875 shares during the period. Teachers Advisors LLC grew its position in Zendesk by 24.5% during the second quarter. Teachers Advisors LLC now owns 175,967 shares of the software maker’s stock valued at $4,888,000 after buying an additional 34,599 shares during the period. BlackRock Inc. grew its position in Zendesk by 54.9% during the second quarter. BlackRock Inc. now owns 8,835,508 shares of the software maker’s stock valued at $245,450,000 after buying an additional 3,133,287 shares during the period. Finally, Jennison Associates LLC grew its position in Zendesk by 1.9% during the second quarter. Jennison Associates LLC now owns 652,590 shares of the software maker’s stock valued at $18,129,000 after buying an additional 12,175 shares during the period. Hedge funds and other institutional investors own 95.96% of the company’s stock.

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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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