Craig Hallum Increases Zendesk (NYSE:ZEN) Price Target to $55.00

Zendesk (NYSE:ZEN) had its price objective boosted by investment analysts at Craig Hallum from $45.00 to $55.00 in a research note issued on Wednesday, May 2nd. The firm presently has a “buy” rating on the software maker’s stock. Craig Hallum’s target price indicates a potential downside of 0.20% from the stock’s current price.

A number of other brokerages have also weighed in on ZEN. Stifel Nicolaus raised their target price on shares of Zendesk from $38.00 to $45.00 and gave the company a “hold” rating in a research report on Wednesday, May 2nd. Royal Bank of Canada raised their target price on shares of Zendesk to $56.00 and gave the company an “outperform” rating in a research report on Wednesday, May 2nd. Cowen raised their target price on shares of Zendesk from $53.00 to $58.00 and gave the company an “outperform” rating in a research report on Wednesday, May 2nd. Piper Jaffray reiterated an “overweight” rating and set a $65.00 price target on shares of Zendesk in a report on Wednesday, May 2nd. They noted that the move was a valuation call. Finally, KeyCorp lifted their price target on shares of Zendesk from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, May 2nd. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Zendesk has an average rating of “Buy” and a consensus price target of $47.00.

Shares of Zendesk opened at $55.11 on Wednesday, MarketBeat reports. Zendesk has a fifty-two week low of $54.22 and a fifty-two week high of $55.18. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $5.74 billion, a price-to-earnings ratio of -53.50 and a beta of 1.51.

Zendesk (NYSE:ZEN) last issued its earnings results on Tuesday, May 1st. The software maker reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.05. Zendesk had a negative net margin of 24.18% and a negative return on equity of 30.37%. The firm had revenue of $129.79 million for the quarter, compared to analyst estimates of $126.76 million. equities analysts anticipate that Zendesk will post -0.97 EPS for the current fiscal year.

In related news, CFO Elena Gomez sold 5,000 shares of the business’s stock in a transaction on Tuesday, March 27th. The shares were sold at an average price of $50.00, for a total value of $250,000.00. Following the transaction, the chief financial officer now owns 13,382 shares in the company, valued at $669,100. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Adrian Mcdermott sold 915 shares of the business’s stock in a transaction on Wednesday, May 16th. The shares were sold at an average price of $55.00, for a total transaction of $50,325.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 62,771 shares of company stock worth $2,870,582. 4.70% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of the company. California State Teachers Retirement System increased its position in shares of Zendesk by 1.0% during the fourth quarter. California State Teachers Retirement System now owns 157,186 shares of the software maker’s stock worth $5,319,000 after acquiring an additional 1,618 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Zendesk by 47.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,723 shares of the software maker’s stock worth $194,000 after acquiring an additional 1,836 shares in the last quarter. Denver Investment Advisors LLC increased its position in shares of Zendesk by 6.6% during the first quarter. Denver Investment Advisors LLC now owns 29,995 shares of the software maker’s stock worth $1,436,000 after acquiring an additional 1,852 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Zendesk by 2.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 75,648 shares of the software maker’s stock worth $2,560,000 after acquiring an additional 1,975 shares in the last quarter. Finally, American International Group Inc. increased its position in shares of Zendesk by 3.1% during the fourth quarter. American International Group Inc. now owns 67,169 shares of the software maker’s stock worth $2,273,000 after acquiring an additional 1,993 shares in the last quarter. 89.75% of the stock is owned by institutional investors.

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, in applications, and on mobile devices; Zendesk Talk, a cloud-based call center software; Zendesk Guide, a knowledge base that for customer self-service and support agent productivity; Zendesk Message, a customer messaging software; and Zendesk Explore that makes customer data accessible across an organization.

Analyst Recommendations for Zendesk (NYSE:ZEN)

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