Zendesk Inc. (NYSE:ZEN)‘s stock had its “buy” rating restated by equities researchers at Rosenblatt Securities in a research report issued to clients and investors on Wednesday. They currently have a $33.00 price target on the stock. Rosenblatt Securities’ price objective points to a potential upside of 6.49% from the company’s previous close.
Other equities analysts also recently issued reports about the stock. Summit Redstone started coverage on shares of Zendesk in a research note on Monday, July 18th. They set a “buy” rating and a $34.00 price objective on the stock. Summit Research reiterated a “buy” rating and set a $34.00 price objective on shares of Zendesk in a research note on Monday, July 18th. Morgan Stanley reiterated a “buy” rating on shares of Zendesk in a research note on Sunday, July 17th. Canaccord Genuity reiterated a “buy” rating on shares of Zendesk in a research note on Friday, June 10th. Finally, Zacks Investment Research upgraded shares of Zendesk from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Thursday, July 7th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $32.73.
Shares of Zendesk (NYSE:ZEN) traded up 2.04% during midday trading on Wednesday, reaching $30.99. 647,352 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $30.49 and its 200 day moving average is $26.19. Zendesk has a one year low of $14.39 and a one year high of $31.88. The firm’s market cap is $2.91 billion.
Zendesk (NYSE:ZEN) last released its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.03. Zendesk had a negative net margin of 37.10% and a negative return on equity of 30.61%. The firm had revenue of $74.20 million for the quarter, compared to the consensus estimate of $72.34 million. During the same period last year, the firm earned ($0.08) earnings per share. The company’s quarterly revenue was up 53.9% on a year-over-year basis. Analysts anticipate that Zendesk will post ($0.04) EPS for the current year.
In related news, SVP Adrian Mcdermott sold 68,470 shares of the firm’s stock in a transaction on Friday, July 8th. The shares were sold at an average price of $28.07, for a total transaction of $1,921,952.90. Following the completion of the transaction, the senior vice president now owns 134,592 shares of the company’s stock, valued at $3,777,997.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Anne Raimondi sold 100,000 shares of the firm’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $30.40, for a total transaction of $3,040,000.00. Following the transaction, the senior vice president now directly owns 111,431 shares of the company’s stock, valued at approximately $3,387,502.40. The disclosure for this sale can be found here. Corporate insiders own 17.00% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of ZEN. BlackRock Inc. boosted its position in shares of Zendesk by 100.5% in the second quarter. BlackRock Inc. now owns 7,675 shares of the company’s stock valued at $202,000 after buying an additional 3,847 shares during the period. Capstone Investment Advisors LLC purchased a new position in Zendesk during the second quarter worth $232,000. AQR Capital Management LLC purchased a new position in Zendesk during the second quarter worth $242,000. ProShare Advisors LLC purchased a new position in Zendesk during the second quarter worth $262,000. Finally, Amalgamated Bank purchased a new position in Zendesk during the second quarter worth $264,000. 83.66% of the stock is owned by hedge funds and other institutional investors.
About Zendesk
Zendesk, Inc is a software development company. The Company provides software as a service (SaaS) customer service platform. The Company’s platform consolidates the data from customer interactions and provides organizations with analytics and performance benchmarking. The Company also provides SaaS live chat software that can be utilized independently to facilitate communications between organizations and their customers.