Zendesk Inc (NYSE:ZEN) Receives Consensus Rating of “Buy” from Analysts

Shares of Zendesk Inc (NYSE:ZEN) have earned a consensus recommendation of “Buy” from the twenty ratings firms that are currently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $92.14.

A number of analysts have weighed in on the company. Zacks Investment Research lowered Zendesk from a “buy” rating to a “hold” rating in a report on Thursday, March 21st. Deutsche Bank upped their target price on Zendesk from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, March 29th. Wedbush restated an “outperform” rating and set a $93.00 target price on shares of Zendesk in a report on Monday, April 29th. Jefferies Financial Group upped their target price on Zendesk from $90.00 to $102.00 and gave the stock a “market perform” rating in a report on Wednesday, May 1st. Finally, JMP Securities upped their target price on Zendesk from $82.00 to $100.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 1st.

In other news, insider Adrian Mcdermott sold 446 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $87.09, for a total transaction of $38,842.14. Following the completion of the sale, the insider now owns 81,464 shares in the company, valued at approximately $7,094,699.76. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP John Geschke sold 2,500 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $83.39, for a total value of $208,475.00. Following the sale, the senior vice president now owns 19,705 shares of the company’s stock, valued at approximately $1,643,199.95. The disclosure for this sale can be found here. In the last quarter, insiders have sold 116,236 shares of company stock valued at $10,044,693. Company insiders own 4.60% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of ZEN. Norges Bank purchased a new stake in shares of Zendesk during the 4th quarter valued at $54,056,000. Macquarie Group Ltd. increased its position in shares of Zendesk by 389.1% in the 4th quarter. Macquarie Group Ltd. now owns 863,145 shares of the software maker’s stock valued at $50,382,000 after acquiring an additional 686,660 shares during the period. CIBC Private Wealth Group LLC acquired a new position in shares of Zendesk in the 1st quarter valued at $54,818,000. 1832 Asset Management L.P. increased its position in shares of Zendesk by 80.6% in the 4th quarter. 1832 Asset Management L.P. now owns 1,317,500 shares of the software maker’s stock valued at $75,062,000 after acquiring an additional 587,800 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Zendesk by 114.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,012,123 shares of the software maker’s stock valued at $59,077,000 after acquiring an additional 539,839 shares during the period. Hedge funds and other institutional investors own 97.45% of the company’s stock.

Shares of NYSE ZEN opened at $89.03 on Friday. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $9.75 billion, a price-to-earnings ratio of -93.72 and a beta of 1.59. The company has a 50 day moving average price of $87.52. Zendesk has a 52-week low of $45.60 and a 52-week high of $93.72.

Zendesk (NYSE:ZEN) last announced its quarterly earnings results on Tuesday, April 30th. The software maker reported ($0.28) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.28). The firm had revenue of $181.48 million during the quarter, compared to analyst estimates of $179.53 million. Zendesk had a negative return on equity of 25.37% and a negative net margin of 22.52%. Zendesk’s quarterly revenue was up 39.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.02 earnings per share. Equities research analysts anticipate that Zendesk will post -1.07 earnings per share 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, 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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