Zendesk, Inc. (NYSE:ZEN) Given Neutral Rating at UBS AG

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.

TRADEMARK VIOLATION WARNING: “Zendesk, Inc. (NYSE:ZEN) Given Neutral Rating at UBS AG” was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this article on another publication, it was copied illegally and republished in violation of United States & international trademark & copyright laws. The legal version of this article can be read at https://ledgergazette.com/2017/11/20/zendesk-inc-zen-stock-rating-reaffirmed-by-ubs-ag.html.

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.

Analyst Recommendations for Zendesk (NYSE:ZEN)

Receive News & Ratings for Zendesk Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zendesk Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply