Zendesk Inc (ZEN) Given Average Recommendation of “Buy” by Brokerages

Zendesk Inc (NYSE:ZEN) has been assigned an average recommendation of “Buy” from the nineteen brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $41.36.

Several research analysts recently issued reports on ZEN shares. Zacks Investment Research downgraded Zendesk from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. Wells Fargo & Co restated an “outperform” rating and set a $40.00 price objective (up from $32.00) on shares of Zendesk in a research report on Thursday, November 2nd. Stifel Nicolaus restated a “neutral” rating on shares of Zendesk in a research report on Friday, November 3rd. UBS Group restated a “neutral” rating and set a $38.00 price objective (up from $37.00) on shares of Zendesk in a research report on Thursday, November 9th. Finally, Morgan Stanley lifted their price objective on Zendesk from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, November 2nd.

Shares of Zendesk (ZEN) traded down $0.13 during trading hours on Tuesday, hitting $42.38. The stock had a trading volume of 951,176 shares, compared to its average volume of 1,186,036. Zendesk has a fifty-two week low of $24.49 and a fifty-two week high of $42.97.

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

In other Zendesk news, Director Elizabeth A. Nelson sold 20,000 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $39.51, for a total value of $790,200.00. Following the completion of the transaction, the director now directly owns 63,833 shares in the company, valued at approximately $2,522,041.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Elena Gomez sold 1,604 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $34.37, for a total value of $55,129.48. Following the completion of the transaction, the chief financial officer now owns 4,430 shares of the company’s stock, valued at $152,259.10. The disclosure for this sale can be found here. Insiders sold a total of 171,295 shares of company stock valued at $6,673,843 over the last quarter. 5.30% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Pier Capital LLC acquired a new stake in shares of Zendesk during the 4th quarter worth $5,465,000. MetLife Investment Advisors LLC acquired a new stake in shares of Zendesk during the 4th quarter worth $1,537,000. Castleark Management LLC acquired a new stake in shares of Zendesk during the 4th quarter worth $10,784,000. EMS Capital LP increased its holdings in shares of Zendesk by 35.0% during the 4th quarter. EMS Capital LP now owns 1,620,000 shares of the software maker’s stock worth $54,821,000 after buying an additional 420,000 shares during the last quarter. Finally, Whale Rock Capital Management LLC increased its holdings in shares of Zendesk by 24.5% during the 4th quarter. Whale Rock Capital Management LLC now owns 1,805,901 shares of the software maker’s stock worth $61,112,000 after buying an additional 355,577 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

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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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