Zendesk, Inc. (NYSE:ZEN)‘s stock had its “neutral” rating restated by stock analysts at UBS AG in a research note issued to investors on Thursday, November 9th, 99wallstreet.com reports. They presently have a $38.00 price target on the software maker’s stock, up from their prior price target of $37.00. UBS AG’s price target points to a potential upside of 10.37% from the stock’s previous close.
Other research analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Zendesk from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Piper Jaffray Companies set a $33.00 price target on shares of Zendesk and gave the company a “buy” rating in a report on Saturday, August 5th. BidaskClub cut shares of Zendesk from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 10th. Canaccord Genuity lifted their target price on shares of Zendesk from $34.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. Finally, Zacks Investment Research lowered shares of Zendesk from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $34.13.
Zendesk (ZEN) traded up $0.05 during mid-day trading on Thursday, reaching $34.43. 1,113,400 shares of the company’s stock traded hands, compared to its average volume of 1,060,240. Zendesk has a fifty-two week low of $19.77 and a fifty-two week high of $35.89.
Zendesk (NYSE:ZEN) last announced its earnings results on Wednesday, November 1st. The software maker reported ($0.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.04. The business had revenue of $112.79 million for the quarter, compared to the consensus estimate of $109.19 million. Zendesk had a negative net margin of 27.43% and a negative return on equity of 32.50%. The business’s revenue for the quarter was up 39.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.04) earnings per share. equities research analysts forecast that Zendesk will post -1.03 EPS for the current fiscal year.
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In related news, Chairman Mikkel Svane sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $34.31, for a total transaction of $1,715,500.00. Following the sale, the chairman now directly owns 1,734,891 shares in the company, valued at $59,524,110.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Adrian Mcdermott sold 1,766 shares of the stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $28.87, for a total transaction of $50,984.42. Following the completion of the transaction, the insider now owns 80,581 shares in the company, valued at $2,326,373.47. The disclosure for this sale can be found here. Insiders have sold 143,353 shares of company stock worth $4,864,239 over the last quarter. Insiders own 5.30% of the company’s stock.
Several hedge funds have recently bought and sold shares of ZEN. UBS Asset Management Americas Inc. boosted its holdings in shares of Zendesk by 90.2% in the first quarter. UBS Asset Management Americas Inc. now owns 38,032 shares of the software maker’s stock valued at $1,066,000 after acquiring an additional 18,032 shares during the period. Ameriprise Financial Inc. acquired a new stake in shares of Zendesk in the first quarter valued at approximately $1,203,000. Parametric Portfolio Associates LLC acquired a new stake in shares of Zendesk in the first quarter valued at approximately $1,544,000. Principal Financial Group Inc. boosted its holdings in shares of Zendesk by 2.5% in the first quarter. Principal Financial Group Inc. now owns 11,605 shares of the software maker’s stock valued at $325,000 after acquiring an additional 283 shares during the period. Finally, Teachers Advisors LLC boosted its holdings in shares of Zendesk by 6.5% in the first quarter. Teachers Advisors LLC now owns 141,368 shares of the software maker’s stock valued at $3,964,000 after acquiring an additional 8,644 shares during the period. 95.21% of the stock is owned by institutional investors and hedge funds.
Zendesk Company Profile
Zendesk, Inc (Zendesk) is a software development company. The Zendesk family of products is built to work together to help organizations understand and manage customer relationships. All Zendesk products share a common interface and are being developed to support a shared services infrastructure and common customer data platform.
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