Zendesk (ZEN) Reaches New 52-Week High at $43.36

Zendesk Inc (NYSE:ZEN) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $43.36 and last traded at $43.44, with a volume of 472733 shares trading hands. The stock had previously closed at $42.38.

A number of brokerages have issued reports on ZEN. Craig Hallum restated a “buy” rating and set a $45.00 price target (up previously from $37.00) on shares of Zendesk in a research note on Wednesday, February 7th. Guggenheim restated a “buy” rating and set a $44.00 price target on shares of Zendesk in a research note on Wednesday, February 7th. Cowen upped their price target on shares of Zendesk from $39.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Bank of America upped their price target on shares of Zendesk from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $46.00 price target on shares of Zendesk in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $40.31.

The firm has a market cap of $4,360.00, a price-to-earnings ratio of -38.67 and a beta of 1.87.

Zendesk (NYSE:ZEN) last released its quarterly earnings data on Tuesday, February 6th. The software maker reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.03. The business had revenue of $123.43 million for the quarter, compared to the consensus estimate of $119.68 million. Zendesk had a negative net margin of 25.70% and a negative return on equity of 32.88%. The business’s revenue for the quarter was up 39.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.04) EPS. research analysts predict that Zendesk Inc will post -1 earnings per share for the current fiscal year.

In other news, insider Adrian Mcdermott sold 50,000 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $39.08, for a total value of $1,954,000.00. Following the sale, the insider now directly owns 1,614,969 shares of the company’s stock, valued at approximately $63,112,988.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John Geschke sold 5,000 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $34.23, for a total transaction of $171,150.00. Following the completion of the sale, the senior vice president now directly owns 16,495 shares in the company, valued at $564,623.85. The disclosure for this sale can be found here. Insiders sold a total of 161,858 shares of company stock worth $6,360,478 over the last ninety days. Insiders own 5.30% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Advisor Group Inc. boosted its holdings in shares of Zendesk by 44.3% in the 2nd quarter. Advisor Group Inc. now owns 3,701 shares of the software maker’s stock valued at $103,000 after acquiring an additional 1,137 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Zendesk in the 3rd quarter valued at $105,000. Cerebellum GP LLC purchased a new stake in shares of Zendesk in the 4th quarter valued at $132,000. SG Americas Securities LLC purchased a new stake in shares of Zendesk in the 3rd quarter valued at $193,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Zendesk by 47.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,723 shares of the software maker’s stock valued at $194,000 after acquiring an additional 1,836 shares during the last quarter. 92.33% of the stock is currently owned by institutional investors and hedge funds.

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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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