Zendesk (NYSE:ZEN) Given Buy Rating at Cowen

Cowen restated their buy rating on shares of Zendesk (NYSE:ZEN) in a research note released on Wednesday morning, TipRanks reports. The firm currently has a $95.00 price objective on the software maker’s stock.

A number of other research firms have also recently weighed in on ZEN. KeyCorp reiterated a buy rating and set a $108.00 price target (up from $102.00) on shares of Zendesk in a report on Tuesday, July 30th. Wedbush lowered their price target on Zendesk from $98.00 to $82.00 and set an outperform rating for the company in a report on Wednesday, October 30th. Jefferies Financial Group restated a buy rating on shares of Zendesk in a report on Wednesday, October 30th. Canaccord Genuity lowered their target price on Zendesk from $105.00 to $85.00 and set a buy rating for the company in a report on Wednesday, October 30th. Finally, Bank of America lowered their target price on Zendesk from $105.00 to $95.00 and set a buy rating for the company in a report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $91.83.

Shares of NYSE ZEN traded up $1.37 during mid-day trading on Wednesday, reaching $75.44. 1,321,124 shares of the company’s stock were exchanged, compared to its average volume of 2,650,644. The firm has a market capitalization of $8.31 billion, a price-to-earnings ratio of -79.41 and a beta of 1.18. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.37 and a current ratio of 1.37. Zendesk has a 52-week low of $45.60 and a 52-week high of $94.89. The company’s 50-day moving average is $70.38 and its 200-day moving average is $81.20.

Zendesk (NYSE:ZEN) last released its quarterly earnings results on Tuesday, October 29th. The software maker reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.08. The business had revenue of $210.48 million during the quarter, compared to analysts’ expectations of $207.40 million. Zendesk had a negative return on equity of 26.50% and a negative net margin of 21.97%. As a group, equities analysts predict that Zendesk will post -0.74 earnings per share for the current fiscal year.

In other Zendesk news, SVP Norman Gennaro sold 753 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $77.52, for a total value of $58,372.56. Following the sale, the senior vice president now owns 15,236 shares of the company’s stock, valued at approximately $1,181,094.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Adrian Mcdermott sold 3,484 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $70.50, for a total value of $245,622.00. Following the completion of the sale, the insider now directly owns 84,948 shares in the company, valued at approximately $5,988,834. The disclosure for this sale can be found here. Insiders sold a total of 177,154 shares of company stock worth $13,710,114 in the last ninety days. 4.60% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Zendesk by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 9,860,855 shares of the software maker’s stock valued at $877,912,000 after purchasing an additional 113,663 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Zendesk by 75.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 9,133,023 shares of the software maker’s stock worth $813,113,000 after acquiring an additional 3,920,837 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Zendesk by 10.3% during the 2nd quarter. Janus Henderson Group PLC now owns 3,180,927 shares of the software maker’s stock worth $283,198,000 after acquiring an additional 296,002 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Zendesk by 18.4% during the 2nd quarter. Wells Fargo & Company MN now owns 1,461,387 shares of the software maker’s stock worth $130,106,000 after acquiring an additional 227,524 shares in the last quarter. Finally, TimesSquare Capital Management LLC raised its position in shares of Zendesk by 15.0% during the 3rd quarter. TimesSquare Capital Management LLC now owns 940,100 shares of the software maker’s stock worth $68,514,000 after acquiring an additional 122,600 shares in the last quarter. 92.91% of the stock is currently owned by institutional investors.

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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