Zendesk (ZEN) PT Lowered to $71.00

Zendesk (NYSE:ZEN) had its price target reduced by Wedbush from $75.00 to $71.00 in a report issued on Monday, February 4th. Wedbush currently has an outperform rating on the software maker’s stock.

Other research analysts have also issued research reports about the company. Deutsche Bank started coverage on Zendesk in a research report on Monday, October 8th. They set a buy rating and a $85.00 target price for the company. Morgan Stanley decreased their price target on shares of Zendesk from $84.00 to $81.00 and set an overweight rating for the company in a research note on Tuesday, October 23rd. Zacks Investment Research raised shares of Zendesk from a sell rating to a hold rating in a research note on Saturday, November 3rd. Stephens started coverage on shares of Zendesk in a research note on Wednesday, January 16th. They set an overweight rating and a $78.00 price target for the company. Finally, Rosenblatt Securities reaffirmed a buy rating and set a $70.00 price target on shares of Zendesk in a research note on Thursday, November 15th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $77.44.

Shares of NYSE:ZEN traded up $1.25 during trading hours on Monday, hitting $80.27. 1,849,084 shares of the company’s stock traded hands, compared to its average volume of 2,294,381. Zendesk has a 1 year low of $42.02 and a 1 year high of $80.63. The firm has a market capitalization of $8.54 billion, a PE ratio of -84.49 and a beta of 1.62. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.67 and a quick ratio of 1.67.

Zendesk (NYSE:ZEN) last announced its earnings results on Tuesday, February 5th. The software maker reported $0.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.38. Zendesk had a negative return on equity of 24.19% and a negative net margin of 21.89%. The business had revenue of $172.25 million during the quarter, compared to analyst estimates of $165.56 million. During the same quarter in the previous year, the business earned ($0.01) earnings per share. The company’s revenue for the quarter was up 41.3% compared to the same quarter last year. Equities research analysts expect that Zendesk will post -0.96 EPS for the current fiscal year.

In other Zendesk news, CFO Elena Gomez sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $76.70, for a total transaction of $460,200.00. Following the completion of the sale, the chief financial officer now directly owns 26,577 shares in the company, valued at $2,038,455.90. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP John Geschke sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 12th. The stock was sold at an average price of $61.37, for a total transaction of $429,590.00. Following the sale, the senior vice president now owns 26,071 shares of the company’s stock, valued at $1,599,977.27. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,216 shares of company stock valued at $8,392,551. 4.70% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Flinton Capital Management LLC purchased a new stake in Zendesk during the fourth quarter worth approximately $30,000. Intercontinental Wealth Advisors LLC purchased a new stake in Zendesk during the fourth quarter worth approximately $34,000. Ipswich Investment Management Co. Inc. purchased a new stake in Zendesk during the fourth quarter worth approximately $41,000. Mondrian Capital Management LLC purchased a new stake in Zendesk during the fourth quarter worth approximately $58,000. Finally, Penserra Capital Management LLC grew its stake in Zendesk by 304.5% during the fourth quarter. Penserra Capital Management LLC now owns 1,440 shares of the software maker’s stock worth $84,000 after buying an additional 1,084 shares during the period. Institutional investors own 92.45% of the company’s stock.

Zendesk Company Profile

Zendesk, Inc, a software development company, provides SaaS products for organizations. Its flagship product is Zendesk Support, a system for tracking, prioritizing, and solving customer support tickets across various channels. The company also offers Zendesk Chat, a live chat software to connect with customers on Websites, in applications, and on mobile devices; Zendesk Talk, a cloud-based call center software; Zendesk Guide, a knowledge base that for customer self-service and support agent productivity; Zendesk Message, a customer messaging software; and Zendesk Explore that makes customer data accessible across an organization.

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Analyst Recommendations for Zendesk (NYSE:ZEN)

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