Zendesk’s (ZEN) Hold Rating Reaffirmed at Zacks Investment Research

Zendesk (NYSE:ZEN)‘s stock had its “hold” rating reaffirmed by Zacks Investment Research in a research note issued to investors on Saturday.

According to Zacks, “Zendesk, Inc. is a software development company. It provides a software-as-a-service, or SaaS, customer service platform. The Company offers applications that allow clients to manage incoming support requests from end customers from any Internet connected computer. It provides customer service through its platform in approximately 40 languages to customers in various industries, such as business technology, telecommunications, education/non-profit, consumer technology, media/entertainment, and retail/ecommerce. Zendesk, Inc. is headquartered in San Francisco, California. “

Several other equities research analysts have also issued reports on the company. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Zendesk in a research note on Tuesday. Royal Bank of Canada reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Zendesk in a research note on Wednesday, January 17th. UBS Group reaffirmed a “neutral” rating and issued a $38.00 price objective (up from $37.00) on shares of Zendesk in a research note on Thursday, November 9th. Stifel Nicolaus reaffirmed a “neutral” rating on shares of Zendesk in a research note on Friday, November 3rd. Finally, Canaccord Genuity raised their price objective on Zendesk from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $35.71.

Zendesk (ZEN) traded up $1.62 during midday trading on Friday, reaching $39.07. The company’s stock had a trading volume of 1,070,000 shares, compared to its average volume of 658,347. The stock has a market cap of $3,970.00, a PE ratio of -35.52 and a beta of 1.83. Zendesk has a fifty-two week low of $22.88 and a fifty-two week high of $39.26.

Zendesk (NYSE:ZEN) last released its quarterly earnings results on Wednesday, November 1st. The software maker reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.04. The business had revenue of $112.79 million during the quarter, compared to analysts’ expectations of $109.19 million. Zendesk had a negative return on equity of 32.50% and a negative net margin of 27.43%. The firm’s revenue for the quarter was up 39.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.04) EPS. equities analysts forecast that Zendesk will post -1.03 EPS for the current fiscal year.

In related news, insider Adrian Mcdermott sold 1,679 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $34.39, for a total transaction of $57,740.81. Following the completion of the sale, the insider now directly owns 80,837 shares of the company’s stock, valued at approximately $2,779,984.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mikkel Svane sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $34.31, for a total value of $1,715,500.00. Following the sale, the chairman now directly owns 1,734,891 shares of the company’s stock, valued at $59,524,110.21. The disclosure for this sale can be found here. Insiders have sold a total of 167,426 shares of company stock valued at $5,836,188 over the last three months. 5.30% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of the stock. Advisor Group Inc. lifted its stake in shares of Zendesk by 44.3% during the 2nd quarter. Advisor Group Inc. now owns 3,701 shares of the software maker’s stock worth $103,000 after acquiring an additional 1,137 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of Zendesk by 21.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,533 shares of the software maker’s stock worth $237,000 after acquiring an additional 1,521 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of Zendesk by 4.3% during the 2nd quarter. Royal Bank of Canada now owns 39,323 shares of the software maker’s stock worth $1,093,000 after acquiring an additional 1,605 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Zendesk by 16.5% during the 2nd quarter. Principal Financial Group Inc. now owns 13,522 shares of the software maker’s stock worth $376,000 after acquiring an additional 1,917 shares during the last quarter. Finally, Engineers Gate Manager LP raised its position in Zendesk by 8.9% during the 3rd quarter. Engineers Gate Manager LP now owns 26,500 shares of the software maker’s stock valued at $771,000 after purchasing an additional 2,156 shares in the last quarter. 94.82% of the stock is owned by hedge funds and other institutional investors.

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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.

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