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.
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.
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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