Analysts Set Zendesk (ZEN) Target Price at $50.29

Zendesk (NYSE:ZEN) has received an average rating of “Buy” from the eighteen analysts that are currently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $50.29.

A number of equities analysts have commented on ZEN shares. Piper Jaffray Companies boosted their price target on shares of Zendesk to $60.00 and gave the stock an “overweight” rating in a research note on Monday, March 12th. ValuEngine raised shares of Zendesk from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Cowen boosted their price target on shares of Zendesk from $53.00 to $58.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 2nd. Zacks Investment Research reissued a “hold” rating on shares of Zendesk in a research note on Saturday, January 27th. Finally, Stifel Nicolaus boosted their price target on shares of Zendesk from $38.00 to $45.00 and gave the stock a “hold” rating in a research note on Wednesday, May 2nd.

In other news, insider Adrian Mcdermott sold 915 shares of the company’s stock in a transaction on Wednesday, May 16th. The shares were sold at an average price of $55.00, for a total value of $50,325.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John Geschke sold 5,000 shares of the company’s stock in a transaction on Monday, April 16th. The shares were sold at an average price of $48.74, for a total transaction of $243,700.00. Following the completion of the sale, the senior vice president now directly owns 13,850 shares of the company’s stock, valued at approximately $675,049. The disclosure for this sale can be found here. Insiders sold a total of 64,387 shares of company stock valued at $2,983,315 in the last ninety days. 4.70% of the stock is owned by corporate insiders.



Institutional investors have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. raised its holdings in Zendesk by 6.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 487,367 shares of the software maker’s stock valued at $16,493,000 after buying an additional 31,057 shares during the last quarter. Cerebellum GP LLC bought a new stake in Zendesk during the 4th quarter valued at $132,000. Jennison Associates LLC raised its holdings in Zendesk by 3.3% during the 4th quarter. Jennison Associates LLC now owns 654,579 shares of the software maker’s stock valued at $22,151,000 after buying an additional 20,928 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Zendesk by 47.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,723 shares of the software maker’s stock valued at $194,000 after buying an additional 1,836 shares during the last quarter. Finally, Parametrica Management Ltd bought a new stake in Zendesk during the 4th quarter valued at $348,000. 94.89% of the stock is owned by institutional investors.

Zendesk opened at $56.33 on Thursday, MarketBeat reports. The company has a debt-to-equity ratio of 1.10, a quick ratio of 3.20 and a current ratio of 3.20. The company has a market cap of $5.89 billion, a P/E ratio of -54.69 and a beta of 1.51. Zendesk has a 1-year low of $24.71 and a 1-year high of $57.31.

Zendesk (NYSE:ZEN) last posted its earnings results on Tuesday, May 1st. The software maker reported ($0.24) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.29) by $0.05. The business had revenue of $129.79 million for the quarter, compared to analyst estimates of $126.76 million. Zendesk had a negative net margin of 24.18% and a negative return on equity of 30.37%. research analysts expect that Zendesk will post -0.97 EPS for the current year.

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, in applications, and on mobile devices; Zendesk Talk, a cloud-based call center software; Zendesk Guide, a knowledge base that for customer self-service and support agent productivity; Zendesk Message, a customer messaging software; and Zendesk Explore that makes customer data accessible across an organization.

Analyst Recommendations for Zendesk (NYSE:ZEN)

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