UBS AG reaffirmed their neutral rating on shares of Zendesk, Inc. (NYSE:ZEN) in a research note published on Thursday, 99wallstreet.com reports. They currently have a $38.00 price target on the software maker’s stock, up from their previous price target of $37.00.
Other equities research analysts also recently issued research reports about the company. BidaskClub downgraded Zendesk from a strong-buy rating to a buy rating in a research report on Thursday, August 10th. Morgan Stanley lifted their target price on Zendesk from $33.00 to $35.00 and gave the company an overweight rating in a research report on Monday, October 23rd. Zacks Investment Research upgraded Zendesk from a hold rating to a buy rating and set a $33.00 target price on the stock in a research report on Thursday, October 5th. KeyCorp restated a buy rating and issued a $35.00 target price on shares of Zendesk in a research report on Sunday, October 15th. Finally, Piper Jaffray Companies set a $33.00 target price on Zendesk and gave the company a buy rating in a research report on Saturday, August 5th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. Zendesk presently has a consensus rating of Buy and a consensus price target of $34.13.
Zendesk (NYSE ZEN) opened at $35.27 on Thursday. Zendesk has a 12 month low of $19.77 and a 12 month high of $35.89.
Zendesk (NYSE:ZEN) last released its quarterly earnings data on Wednesday, November 1st. The software maker reported ($0.02) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.04. Zendesk had a negative return on equity of 32.50% and a negative net margin of 27.43%. The company had revenue of $112.79 million for the quarter, compared to analyst estimates of $109.19 million. During the same quarter in the previous year, the company posted ($0.04) earnings per share. The firm’s revenue for the quarter was up 39.7% compared to the same quarter last year. analysts predict that Zendesk will post -1.03 EPS for the current year.
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In related news, SVP John Geschke sold 30,200 shares of the business’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $34.36, for a total value of $1,037,672.00. Following the sale, the senior vice president now owns 16,195 shares in the company, valued at approximately $556,460.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Adrian Mcdermott sold 1,766 shares of the business’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $26.42, for a total value of $46,657.72. Following the completion of the sale, the insider now owns 80,435 shares in the company, valued at approximately $2,125,092.70. The disclosure for this sale can be found here. Insiders sold a total of 64,178 shares of company stock worth $2,098,016 in the last quarter. Company insiders own 5.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC increased its holdings in Zendesk by 2.0% during the 2nd 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 during the period. BlackRock Inc. increased its holdings in Zendesk by 54.9% during the 2nd 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 during the period. Vanguard Group Inc. increased its holdings in Zendesk by 10.9% during the 2nd 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 during the period. Franklin Resources Inc. increased its holdings in Zendesk by 1.6% during the 2nd quarter. Franklin Resources Inc. now owns 5,119,444 shares of the software maker’s stock worth $142,213,000 after purchasing an additional 79,039 shares during the period. Finally, Janus Henderson Group PLC purchased a new stake in Zendesk during the 2nd quarter worth about $137,975,000. Institutional investors own 95.49% of the company’s stock.
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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