Royal Bank Of Canada Reiterates Buy Rating for Zendesk, Inc. (ZEN)

Zendesk, Inc. (NYSE:ZEN)‘s stock had its “buy” rating reaffirmed by Royal Bank Of Canada in a note issued to investors on Wednesday, October 18th. They presently have a $35.00 target price on the software maker’s stock. Royal Bank Of Canada’s target price suggests a potential upside of 1.30% from the stock’s current price.

Several other research firms have also recently weighed in on ZEN. Stephens cut shares of Zendesk from an “equal weight” rating to an “underweight” rating and set a $25.00 price target on the stock. in a report on Monday, October 9th. Zacks Investment Research upgraded shares of Zendesk from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research note on Thursday, October 5th. KeyCorp reiterated a “buy” rating and issued a $35.00 target price on shares of Zendesk in a research note on Sunday, October 15th. ValuEngine cut shares of Zendesk from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $33.00 target price on shares of Zendesk in a research note on Tuesday, September 12th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $33.80.

Zendesk (NYSE ZEN) traded up $0.58 during trading hours on Wednesday, hitting $34.55. 1,140,816 shares of the stock traded hands, compared to its average volume of 908,455. Zendesk has a one year low of $19.77 and a one year high of $35.00.

Zendesk (NYSE:ZEN) last posted its earnings results on Wednesday, November 1st. The software maker reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.04. Zendesk had a negative net margin of 27.43% and a negative return on equity of 32.55%. The company had revenue of $112.79 million during the quarter, compared to the consensus estimate of $109.19 million. During the same period in the previous year, the firm posted ($0.04) earnings per share. The firm’s revenue for the quarter was up 39.7% on a year-over-year basis. research analysts anticipate that Zendesk will post -1.05 EPS for the current year.

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In other news, CFO Elena Gomez sold 13,155 shares of the company’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $35.00, for a total value of $460,425.00. Following the completion of the sale, the chief financial officer now owns 16,858 shares of the company’s stock, valued at approximately $590,030. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Bryan Cox sold 5,000 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $26.98, for a total transaction of $134,900.00. Following the sale, the executive now directly owns 19,743 shares of the company’s stock, valued at approximately $532,666.14. The disclosure for this sale can be found here. Insiders sold a total of 69,178 shares of company stock worth $2,232,916 in the last three months. Insiders own 5.30% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. boosted its position in Zendesk by 28.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 337,329 shares of the software maker’s stock valued at $9,458,000 after buying an additional 75,286 shares during the period. Teacher Retirement System of Texas purchased a new stake in Zendesk during the 2nd quarter valued at $216,000. Morgan Stanley lifted its position in shares of Zendesk by 3.1% in the 1st quarter. Morgan Stanley now owns 1,141,934 shares of the software maker’s stock worth $32,020,000 after purchasing an additional 34,621 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Zendesk by 77.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,110,503 shares of the software maker’s stock worth $58,629,000 after purchasing an additional 923,875 shares during the period. Finally, Legato Capital Management LLC purchased a new stake in shares of Zendesk in the 2nd quarter worth about $492,000. 96.07% of the stock is owned by institutional investors and hedge funds.

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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