Zendesk Inc (ZEN) Given Consensus Recommendation of “Buy” by Analysts

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Shares of Zendesk Inc (NYSE:ZEN) have been given an average recommendation of “Buy” by the twenty-one analysts that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $79.14.

Several equities analysts have recently issued reports on the stock. KeyCorp lifted their price objective on shares of Zendesk from $71.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 6th. Craig Hallum lifted their target price on shares of Zendesk from $68.00 to $84.00 and gave the stock a “buy” rating in a research report on Wednesday, February 6th. Zacks Investment Research raised shares of Zendesk from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Sunday, January 6th. Canaccord Genuity lifted their target price on shares of Zendesk from $65.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, February 6th. Finally, Deutsche Bank lifted their target price on shares of Zendesk from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, March 29th.

Shares of ZEN opened at $83.20 on Monday. The company has a market capitalization of $9.17 billion, a PE ratio of -87.58 and a beta of 1.66. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.67 and a current ratio of 1.67. Zendesk has a 12-month low of $45.60 and a 12-month high of $86.85.

Zendesk (NYSE:ZEN) last announced its quarterly earnings data on Tuesday, February 5th. The software maker reported $0.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.38. The company had revenue of $172.25 million for the quarter, compared to analysts’ expectations of $165.56 million. Zendesk had a negative net margin of 21.89% and a negative return on equity of 24.19%. The business’s revenue was up 41.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.01) EPS. As a group, research analysts forecast that Zendesk will post -0.96 EPS for the current fiscal year.

In related news, SVP Norman Gennaro sold 6,820 shares of the firm’s stock in a transaction that occurred on Monday, February 11th. The shares were sold at an average price of $77.00, for a total transaction of $525,140.00. Following the completion of the sale, the senior vice president now directly owns 10,455 shares in the company, valued at $805,035. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Adrian Mcdermott sold 2,241 shares of the firm’s stock in a transaction that occurred on Thursday, January 17th. The stock was sold at an average price of $63.11, for a total transaction of $141,429.51. Following the sale, the insider now owns 80,267 shares of the company’s stock, valued at $5,065,650.37. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,070 shares of company stock valued at $7,004,303. 4.70% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the stock. Prudential Financial Inc. lifted its stake in Zendesk by 2.8% in the fourth quarter. Prudential Financial Inc. now owns 5,450 shares of the software maker’s stock valued at $318,000 after acquiring an additional 150 shares during the last quarter. WINTON GROUP Ltd lifted its stake in Zendesk by 3.9% in the fourth quarter. WINTON GROUP Ltd now owns 4,504 shares of the software maker’s stock valued at $263,000 after acquiring an additional 168 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Zendesk by 2.0% in the fourth quarter. State of Alaska Department of Revenue now owns 13,003 shares of the software maker’s stock valued at $758,000 after acquiring an additional 252 shares during the last quarter. Sageworth Trust Co acquired a new stake in Zendesk in the first quarter valued at approximately $42,000. Finally, Flinton Capital Management LLC acquired a new stake in Zendesk in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 96.55% of the company’s stock.

About Zendesk

Zendesk, Inc, a software development company, provides SaaS products for organizations. Its flagship product is Zendesk Support, a system for tracking, prioritizing, and solving customer support tickets across various channels. The company also offers Zendesk Chat, a live chat software to connect with customers on Websites, applications, and mobile devices; Zendesk Talk, a cloud-based call center software; Zendesk Guide, a knowledge base that powers customer self-service and support agent productivity; Zendesk Sell, a sales force automation software to enhance productivity, processes, and pipeline visibility for sales teams; Zendesk Connect that manages customer communication across channels; and Zendesk Explore, which provides analytics for businesses to measure and enhance the customer experience.

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Analyst Recommendations for Zendesk (NYSE:ZEN)

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