Zendesk (ZEN) Given Buy Rating at Royal Bank of Canada

Royal Bank of Canada reiterated their buy rating on shares of Zendesk (NYSE:ZEN) in a report released on Wednesday, January 17th. The brokerage currently has a $42.00 target price on the software maker’s stock.

A number of other equities analysts have also recently weighed in on ZEN. ValuEngine cut Zendesk from a hold rating to a sell rating in a report on Monday, October 2nd. Zacks Investment Research upgraded 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. Stephens cut Zendesk from an equal weight rating to an underweight rating and set a $25.00 target price for the company. in a report on Monday, October 9th. KeyCorp restated a buy rating and set a $35.00 target price on shares of Zendesk in a report on Sunday, October 15th. Finally, Morgan Stanley lifted their price objective on Zendesk from $33.00 to $35.00 and gave the company an overweight rating in a research note on Monday, October 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the stock. Zendesk currently has a consensus rating of Buy and a consensus target price of $40.31.

Zendesk (NYSE ZEN) traded up $0.60 during midday trading on Wednesday, reaching $39.10. The company had a trading volume of 1,447,645 shares, compared to its average volume of 1,084,047. Zendesk has a 1 year low of $24.49 and a 1 year high of $42.35. The firm has a market cap of $3,968.92, a P/E ratio of -35.23 and a beta of 1.87.

Zendesk (NYSE:ZEN) last issued its earnings results on Tuesday, February 6th. The software maker reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.03. The business had revenue of $123.43 million during the quarter, compared to the consensus estimate of $119.68 million. Zendesk had a negative return on equity of 32.88% and a negative net margin of 25.70%. The company’s revenue for the quarter was up 39.3% on a year-over-year basis. During the same period last year, the company earned ($0.04) EPS. equities analysts predict that Zendesk will post -1 EPS for the current fiscal year.

In other news, CFO Elena Gomez sold 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $33.66, for a total value of $40,392.00. Following the transaction, the chief financial officer now owns 2,535 shares of the company’s stock, valued at $85,328.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Adrian Mcdermott sold 1,593 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $36.27, for a total value of $57,778.11. Following the completion of the transaction, the insider now directly owns 81,081 shares in the company, valued at approximately $2,940,807.87. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 101,426 shares of company stock worth $3,543,308. 5.30% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. FMR LLC boosted its position in Zendesk by 2.0% during the second quarter. FMR LLC now owns 14,844,224 shares of the software maker’s stock worth $412,372,000 after purchasing an additional 293,055 shares in the last quarter. BlackRock Inc. boosted 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 worth $245,450,000 after purchasing an additional 3,133,287 shares in the last quarter. Vanguard Group Inc. boosted its position in Zendesk by 10.9% during the second quarter. Vanguard Group Inc. now owns 7,365,549 shares of the software maker’s stock worth $204,615,000 after purchasing an additional 721,652 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in Zendesk during the second quarter worth $137,975,000. Finally, Wasatch Advisors Inc. boosted its position in Zendesk by 26.5% during the second quarter. Wasatch Advisors Inc. now owns 3,919,479 shares of the software maker’s stock worth $108,883,000 after purchasing an additional 820,465 shares in the last quarter. Hedge funds and other institutional investors own 93.94% 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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