Zendesk (NYSE:ZEN) had its price objective boosted by Wells Fargo & Co from $95.00 to $120.00 in a research note released on Thursday morning, The Fly reports. The firm currently has an overweight rating on the software maker’s stock.
ZEN has been the subject of a number of other reports. ValuEngine lowered shares of Zendesk from a buy rating to a hold rating in a report on Monday, July 20th. Oppenheimer upped their price objective on shares of Zendesk from $80.00 to $95.00 and gave the company an outperform rating in a research note on Wednesday, July 15th. Goldman Sachs Group raised their target price on Zendesk from $96.00 to $113.00 in a research note on Monday, June 29th. Zacks Investment Research downgraded Zendesk from a buy rating to a hold rating in a report on Friday, July 24th. Finally, Citigroup assumed coverage on Zendesk in a report on Thursday, July 16th. They issued a neutral rating and a $100.00 price objective for the company. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $99.75.
ZEN opened at $91.15 on Thursday. Zendesk has a 12 month low of $50.23 and a 12 month high of $101.94. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 1.28. The business’s 50-day moving average price is $88.52 and its 200-day moving average price is $79.73. The company has a market cap of $10.41 billion, a P/E ratio of -58.06 and a beta of 1.33.
Zendesk (NYSE:ZEN) last posted its quarterly earnings results on Thursday, July 30th. The software maker reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.34. Zendesk had a negative return on equity of 22.07% and a negative net margin of 19.24%. The business had revenue of $246.66 million for the quarter, compared to analyst estimates of $239.82 million. Equities research analysts forecast that Zendesk will post -0.76 earnings per share for the current fiscal year.
In other news, CMO Jeffrey J. Titterton sold 1,700 shares of the business’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $89.77, for a total value of $152,609.00. Following the sale, the chief marketing officer now directly owns 11,422 shares of the company’s stock, valued at approximately $1,025,352.94. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Mikkel Svane sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $73.61, for a total value of $3,680,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,078,223 shares in the company, valued at $79,367,995.03. The disclosure for this sale can be found here. Insiders sold a total of 142,594 shares of company stock worth $11,218,424 over the last ninety days. Insiders own 4.30% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ZEN. Ellevest Inc. increased its holdings in shares of Zendesk by 346.5% during the first quarter. Ellevest Inc. now owns 384 shares of the software maker’s stock valued at $25,000 after acquiring an additional 298 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in Zendesk during the 2nd quarter valued at about $28,000. Canada Pension Plan Investment Board bought a new stake in Zendesk during the 1st quarter valued at about $48,000. Rockefeller Capital Management L.P. raised its holdings in Zendesk by 74.1% in the first quarter. Rockefeller Capital Management L.P. now owns 820 shares of the software maker’s stock worth $52,000 after buying an additional 349 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in shares of Zendesk in the second quarter worth approximately $57,000. 98.84% of the stock is currently owned by hedge funds and other institutional investors.
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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