Zendesk, Inc. (ZEN) Receives $33.56 Consensus Price Target from Brokerages

Shares of Zendesk, Inc. (NYSE:ZEN) have earned a consensus recommendation of “Buy” from the sixteen analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $33.56.

Several equities research analysts have issued reports on ZEN shares. KeyCorp reaffirmed a “buy” rating and set a $35.00 price target on shares of Zendesk in a research note on Friday, August 4th. BidaskClub cut shares of Zendesk from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 29th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $33.00 price target on shares of Zendesk in a research note on Tuesday, September 12th. Evercore ISI started coverage on shares of Zendesk in a research note on Friday, September 8th. They set an “outperform” rating and a $34.00 price target on the stock. Finally, Zacks Investment Research cut shares of Zendesk from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd.

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In other Zendesk news, SVP John Geschke sold 10,000 shares of Zendesk stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $29.33, for a total transaction of $293,300.00. Following the transaction, the senior vice president now directly owns 20,595 shares of the company’s stock, valued at $604,051.35. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Adrian Mcdermott sold 1,766 shares of Zendesk stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $29.11, for a total transaction of $51,408.26. Following the transaction, the insider now directly owns 80,290 shares in the company, valued at $2,337,241.90. The disclosure for this sale can be found here. Insiders sold 125,319 shares of company stock worth $3,539,045 over the last three months. Corporate insiders own 5.30% of the company’s stock.

A number of hedge funds have recently made changes to their positions in ZEN. Nationwide Fund Advisors lifted its position in Zendesk by 48.0% during the first quarter. Nationwide Fund Advisors now owns 104,437 shares of the software maker’s stock valued at $2,928,000 after buying an additional 33,850 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Zendesk by 333.4% during the first quarter. Russell Investments Group Ltd. now owns 63,067 shares of the software maker’s stock valued at $1,767,000 after buying an additional 48,514 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Zendesk during the first quarter valued at approximately $386,000. Bank of New York Mellon Corp lifted its position in Zendesk by 23.1% during the first quarter. Bank of New York Mellon Corp now owns 413,668 shares of the software maker’s stock valued at $11,599,000 after buying an additional 77,762 shares in the last quarter. Finally, Swiss National Bank lifted its position in Zendesk by 1.9% during the first quarter. Swiss National Bank now owns 125,652 shares of the software maker’s stock valued at $3,523,000 after buying an additional 2,300 shares in the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Zendesk (NYSE:ZEN) traded down 0.55% during trading on Friday, reaching $28.95. 411,971 shares of the company’s stock traded hands. The firm has a 50 day moving average of $27.67 and a 200 day moving average of $27.65. Zendesk has a 1-year low of $19.77 and a 1-year high of $31.36. The firm’s market capitalization is $2.91 billion.

Zendesk (NYSE:ZEN) last released its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.20). Zendesk had a negative return on equity of 32.10% and a negative net margin of 29.34%. The firm had revenue of $101.30 million for the quarter, compared to analyst estimates of $99.47 million. During the same period in the prior year, the business earned ($0.06) earnings per share. Zendesk’s revenue for the quarter was up 36.5% on a year-over-year basis. Equities analysts forecast that Zendesk will post ($0.17) EPS for the current year.

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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