BidaskClub cut shares of Zendesk, Inc. (NYSE:ZEN) from a buy rating to a hold rating in a report released on Wednesday.
A number of other research analysts have also recently issued reports on ZEN. Guggenheim reaffirmed a buy rating and set a $33.00 price objective on shares of Zendesk in a research note on Tuesday, April 18th. UBS AG reaffirmed a buy rating and set a $38.00 price objective (up from $36.00) on shares of Zendesk in a research note on Friday, May 5th. Zacks Investment Research cut Zendesk from a hold rating to a sell rating in a research note on Wednesday, May 10th. Stifel Nicolaus reaffirmed a hold rating on shares of Zendesk in a research note on Friday, July 21st. Finally, KeyCorp reaffirmed a buy rating and set a $35.00 price objective on shares of Zendesk in a research note on Friday, August 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. Zendesk presently has a consensus rating of Buy and a consensus price target of $33.00.
Shares of Zendesk (ZEN) opened at 26.62 on Wednesday. The company’s 50-day moving average price is $28.10 and its 200-day moving average price is $27.45. The company’s market cap is $2.68 billion. Zendesk has a 12 month low of $19.77 and a 12 month high of $31.88.
Zendesk (NYSE:ZEN) last released its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $0.20. Zendesk had a negative net margin of 29.34% and a negative return on equity of 32.10%. The firm had revenue of $101.30 million for the quarter, compared to analysts’ expectations of $99.47 million. During the same quarter in the previous year, the business earned ($0.06) EPS. The company’s revenue for the quarter was up 36.5% on a year-over-year basis. Analysts anticipate that Zendesk will post ($0.17) EPS for the current year.
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In related news, insider Adrian Mcdermott sold 1,766 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $26.42, for a total value of $46,657.72. Following the sale, the insider now directly owns 80,435 shares of the company’s stock, valued at $2,125,092.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Bryan Cox sold 8,000 shares of the firm’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $26.23, for a total value of $209,840.00. Following the completion of the sale, the executive now directly owns 20,537 shares in the company, valued at $538,685.51. The disclosure for this sale can be found here. Insiders sold 128,416 shares of company stock worth $3,585,448 over the last three months. 5.30% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of ZEN. Norges Bank acquired a new stake in Zendesk during the fourth quarter valued at about $360,000. Teachers Advisors LLC boosted its stake in Zendesk by 2.9% in the fourth quarter. Teachers Advisors LLC now owns 132,724 shares of the software maker’s stock valued at $2,814,000 after buying an additional 3,756 shares during the last quarter. Nationwide Fund Advisors boosted its stake in Zendesk by 48.0% in the first quarter. Nationwide Fund Advisors now owns 104,437 shares of the software maker’s stock valued at $2,928,000 after buying an additional 33,850 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Zendesk by 333.4% in the first quarter. Russell Investments Group Ltd. now owns 63,067 shares of the software maker’s stock valued at $1,767,000 after buying an additional 48,514 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Zendesk by 6.0% in the first quarter. Wells Fargo & Company MN now owns 1,911,513 shares of the software maker’s stock valued at $53,599,000 after buying an additional 107,558 shares during the last quarter. 92.62% of the stock is currently owned by institutional investors.
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.
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