Shares of Zendesk, Inc. (NYSE:ZEN – Get Rating) have earned a consensus recommendation of “Hold” from the nineteen ratings firms that are presently covering the stock, Marketbeat reports. Fourteen analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $95.33.

Several equities research analysts recently weighed in on ZEN shares. UBS Group decreased their price objective on Zendesk from $128.00 to $77.50 in a report on Friday, June 24th. Craig Hallum lowered Zendesk from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $140.00 to $77.50 in a report on Wednesday, June 29th. Evercore ISI decreased their price objective on Zendesk from $128.00 to $66.00 and set an “in-line” rating for the company in a report on Friday, June 17th. Canaccord Genuity Group lowered Zendesk from a “buy” rating to a “hold” rating in a report on Friday, June 24th. Finally, Cowen reduced their target price on Zendesk to $77.50 in a report on Monday, July 4th.

Zendesk Trading Up 0.4 %

Shares of Zendesk stock opened at $74.94 on Thursday. Zendesk has a 1 year low of $54.16 and a 1 year high of $153.43. The firm has a market cap of $9.24 billion, a PE ratio of -37.47 and a beta of 1.04. The stock has a fifty day moving average price of $76.48 and a 200-day moving average price of $99.87. The company has a debt-to-equity ratio of 3.47, a current ratio of 1.62 and a quick ratio of 1.62.

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Zendesk (NYSE:ZEN – Get Rating) last announced its earnings results on Thursday, April 28th. The software maker reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.15). Zendesk had a negative net margin of 16.91% and a negative return on equity of 36.18%. The business had revenue of $388.30 million for the quarter, compared to analysts’ expectations of $384.62 million. During the same period in the prior year, the business earned ($0.29) earnings per share. The company’s revenue for the quarter was up 30.3% compared to the same quarter last year. Equities research analysts anticipate that Zendesk will post -1.06 EPS for the current year.

Insider Buying and Selling at Zendesk

In other Zendesk news, insider Norman Gennaro sold 7,000 shares of the business’s stock in a transaction that occurred on Sunday, May 15th. The stock was sold at an average price of $100.20, for a total value of $701,400.00. Following the completion of the sale, the insider now owns 30,911 shares in the company, valued at $3,097,282.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Zendesk news, CTO Adrian Mcdermott sold 9,761 shares of the business’s stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $120.25, for a total value of $1,173,760.25. Following the completion of the sale, the chief technology officer now owns 92,760 shares in the company, valued at $11,154,390. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Norman Gennaro sold 7,000 shares of the business’s stock in a transaction that occurred on Sunday, May 15th. The shares were sold at an average price of $100.20, for a total value of $701,400.00. Following the transaction, the insider now directly owns 30,911 shares in the company, valued at $3,097,282.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,003 shares of company stock worth $2,952,996. 2.92% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zendesk

Hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC purchased a new stake in Zendesk in the fourth quarter worth $26,000. AdvisorNet Financial Inc purchased a new stake in Zendesk in the second quarter worth $26,000. Achmea Investment Management B.V. purchased a new stake in Zendesk in the first quarter worth $26,000. Quadrant Capital Group LLC grew its stake in Zendesk by 102.3% in the fourth quarter. Quadrant Capital Group LLC now owns 259 shares of the software maker’s stock worth $27,000 after purchasing an additional 131 shares during the period. Finally, Prospera Financial Services Inc purchased a new stake in Zendesk in the first quarter worth $33,000. 98.72% of the stock is owned by hedge funds and other institutional investors.

About Zendesk

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Zendesk, Inc, a software development company, provides software as a service solutions for organizations in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. Its flagship product is Zendesk Support, a system for tracking, prioritizing, and solving customer support tickets across various channels.

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Analyst Recommendations for Zendesk (NYSE:ZEN)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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