Shares of Zendesk Inc (NYSE:ZEN) have received an average recommendation of “Buy” from the seventeen research firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $35.00.

A number of research firms recently commented on ZEN. Royal Bank of Canada reissued a “buy” rating and issued a $42.00 price target on shares of Zendesk in a research report on Wednesday. ValuEngine lowered Zendesk from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Canaccord Genuity increased their price target on Zendesk from $34.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. Morgan Stanley increased their price target on Zendesk from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, November 2nd. Finally, Stifel Nicolaus reissued a “neutral” rating on shares of Zendesk in a research report on Friday, November 3rd.

In related news, insider Adrian Mcdermott sold 1,679 shares of Zendesk stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $34.39, for a total value of $57,740.81. Following the completion of the sale, the insider now owns 80,837 shares of the company’s stock, valued at approximately $2,779,984.43. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP John Geschke sold 30,200 shares of Zendesk stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $34.36, for a total value of $1,037,672.00. Following the completion of the sale, the senior vice president now directly owns 16,195 shares of the company’s stock, valued at approximately $556,460.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 165,833 shares of company stock valued at $5,778,410. Insiders own 5.30% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. increased its holdings in Zendesk by 6.8% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 487,367 shares of the software maker’s stock worth $16,493,000 after acquiring an additional 31,057 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in Zendesk by 10.8% in the 3rd quarter. Neuberger Berman Group LLC now owns 34,821 shares of the software maker’s stock worth $1,014,000 after acquiring an additional 3,392 shares during the last quarter. California Public Employees Retirement System increased its holdings in Zendesk by 2.6% in the 3rd quarter. California Public Employees Retirement System now owns 110,600 shares of the software maker’s stock worth $3,220,000 after acquiring an additional 2,800 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in Zendesk by 127.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 23,200 shares of the software maker’s stock worth $675,000 after acquiring an additional 13,000 shares during the last quarter. Finally, Granahan Investment Management Inc. MA bought a new position in Zendesk in the 3rd quarter worth about $5,290,000. 95.67% of the stock is owned by institutional investors.

Zendesk (NYSE:ZEN) traded down $0.11 during midday trading on Friday, reaching $36.38. The company had a trading volume of 604,800 shares, compared to its average volume of 756,183. The stock has a market cap of $3,690.00, a price-to-earnings ratio of -33.07 and a beta of 1.83. Zendesk has a twelve month low of $22.88 and a twelve month high of $38.83.

Zendesk (NYSE:ZEN) last released its quarterly earnings results on Wednesday, November 1st. The software maker reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.04. The business had revenue of $112.79 million during the quarter, compared to analyst estimates of $109.19 million. Zendesk had a negative return on equity of 32.50% and a negative net margin of 27.43%. Zendesk’s quarterly revenue was up 39.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.04) EPS. sell-side analysts expect that Zendesk will post -1.03 EPS for the current fiscal year.

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About Zendesk

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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