Zendesk (ZEN) PT Raised to $100.00

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Zendesk (NYSE:ZEN) had its price target upped by investment analysts at JMP Securities from $82.00 to $100.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The firm currently has a “market outperform” rating on the software maker’s stock. JMP Securities’ target price would indicate a potential upside of 19.55% from the stock’s current price.

Other research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Zendesk from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Sunday, January 6th. Jefferies Financial Group lifted their price objective on shares of Zendesk to $90.00 and gave the company a “buy” rating in a research note on Wednesday, February 6th. Bank of America lifted their price objective on shares of Zendesk from $68.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, February 6th. Craig Hallum lifted their price objective on shares of Zendesk from $68.00 to $84.00 and gave the company a “buy” rating in a research note on Wednesday, February 6th. Finally, Canaccord Genuity lifted their price objective on shares of Zendesk from $65.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, February 6th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Zendesk presently has an average rating of “Buy” and a consensus price target of $90.67.

Shares of ZEN stock opened at $83.65 on Wednesday. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.10. Zendesk has a 12-month low of $45.60 and a 12-month high of $87.92. The company has a market cap of $9.26 billion, a PE ratio of -88.05 and a beta of 1.64.

Zendesk (NYSE:ZEN) last issued its quarterly earnings results on Tuesday, April 30th. The software maker reported ($0.28) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.28). Zendesk had a negative net margin of 22.52% and a negative return on equity of 25.53%. The company had revenue of $181.48 million during the quarter, compared to analyst estimates of $179.53 million. During the same quarter last year, the business posted $0.02 EPS. Zendesk’s quarterly revenue was up 39.8% compared to the same quarter last year. Equities analysts forecast that Zendesk will post -0.96 earnings per share for the current fiscal year.

In other Zendesk news, Director Caryn Marooney sold 2,719 shares of the firm’s stock in a transaction on Monday, February 11th. The shares were sold at an average price of $77.00, for a total value of $209,363.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Elena Gomez sold 2,000 shares of the firm’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $70.00, for a total transaction of $140,000.00. Following the completion of the transaction, the chief financial officer now directly owns 26,326 shares of the company’s stock, valued at $1,842,820. The disclosure for this sale can be found here. Over the last three months, insiders sold 94,613 shares of company stock valued at $7,459,350. Insiders own 4.60% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of ZEN. Flinton Capital Management LLC bought a new stake in shares of Zendesk during the 4th quarter worth $30,000. Intercontinental Wealth Advisors LLC bought a new stake in shares of Zendesk during the 4th quarter worth $34,000. Capital Investment Advisory Services LLC bought a new stake in shares of Zendesk during the 1st quarter worth $34,000. Ipswich Investment Management Co. Inc. bought a new stake in shares of Zendesk during the 4th quarter worth $41,000. Finally, Sageworth Trust Co bought a new stake in shares of Zendesk during the 1st quarter worth $42,000. 95.63% of the stock is owned by institutional investors.

Zendesk Company Profile

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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