Zendesk Inc (ZEN) Receives $32.80 Average PT from Brokerages

Zendesk Inc (NYSE:ZEN) has been given a consensus recommendation of “Buy” by the fifteen ratings firms that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $32.80.

Several equities research analysts have weighed in on the stock. Zacks Investment Research raised shares of Zendesk from a “sell” rating to a “hold” rating in a research report on Thursday. Guggenheim reissued a “buy” rating and set a $33.00 price target on shares of Zendesk in a research report on Tuesday, April 18th. William Blair reissued an “outperform” rating on shares of Zendesk in a research report on Monday, April 3rd. Rosenblatt Securities reissued a “buy” rating and set a $34.00 price target on shares of Zendesk in a research report on Wednesday, March 8th. Finally, Canaccord Genuity reissued a “buy” rating and set a $32.00 price target on shares of Zendesk in a research report on Friday, February 24th.

In other Zendesk news, CEO Mikkel Svane sold 50,000 shares of the company’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $27.20, for a total value of $1,360,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,777,268 shares in the company, valued at approximately $48,341,689.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Caryn Marooney sold 3,331 shares of the company’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $24.76, for a total transaction of $82,475.56. Following the completion of the transaction, the director now owns 40,858 shares of the company’s stock, valued at $1,011,644.08. The disclosure for this sale can be found here. Insiders sold a total of 105,198 shares of company stock valued at $2,826,984 over the last 90 days. Company insiders own 17.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ZEN. Criterion Capital Management LLC bought a new position in shares of Zendesk during the third quarter valued at approximately $6,563,000. Adams Street Partners LLC acquired a new position in shares of Zendesk during the third quarter valued at about $2,085,000. HBK Investments L P acquired a new position in shares of Zendesk during the third quarter valued at about $438,000. Highbridge Capital Management LLC acquired a new position in shares of Zendesk during the third quarter valued at about $914,000. Finally, Russell Investments Group Ltd. acquired a new position in shares of Zendesk during the fourth quarter valued at about $308,000. Institutional investors and hedge funds own 87.19% of the company’s stock.

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Shares of Zendesk (NYSE:ZEN) traded down 4.50% during trading on Tuesday, reaching $26.12. 1,964,205 shares of the company were exchanged. Zendesk has a one year low of $19.77 and a one year high of $31.88. The stock’s market capitalization is $2.58 billion. The stock has a 50-day moving average price of $27.19 and a 200-day moving average price of $25.60.

Zendesk (NYSE:ZEN) last announced its quarterly earnings results on Thursday, May 4th. The software maker reported ($0.05) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The business had revenue of $93.01 million during the quarter, compared to analysts’ expectations of $92.46 million. Zendesk had a negative net margin of 33.27% and a negative return on equity of 32.71%. The firm’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.08) EPS. Analysts forecast that Zendesk will post ($0.18) EPS for the current year.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “ZEN”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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