Zendesk, Inc. (NYSE:ZEN) Receives Average Rating of “Hold” from Analysts

Shares of Zendesk, Inc. (NYSE:ZENGet Rating) have received a consensus rating of “Hold” from the eighteen brokerages that are presently covering the stock, MarketBeat reports. Fourteen research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $95.33.

A number of equities research analysts have recently issued reports on the company. Piper Sandler reduced their price objective on Zendesk from $140.00 to $77.50 and set a “neutral” rating for the company in a report on Monday, July 18th. UBS Group lowered their price objective on Zendesk from $128.00 to $77.50 in a research report on Friday, June 24th. William Blair cut Zendesk from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 26th. Cowen lowered their price objective on Zendesk to $77.50 in a research report on Monday, July 4th. Finally, Barclays reiterated an “equal weight” rating and set a $78.00 price objective (down previously from $170.00) on shares of Zendesk in a research report on Tuesday, June 28th.

Insider Transactions at Zendesk

In related news, COO Jeffrey J. Titterton sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $76.75, for a total value of $1,535,000.00. Following the sale, the chief operating officer now directly owns 687 shares of the company’s stock, valued at $52,727.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CTO Adrian Mcdermott sold 813 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $76.43, for a total value of $62,137.59. Following the sale, the chief technology officer now directly owns 94,385 shares of the company’s stock, valued at $7,213,845.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey J. Titterton sold 20,000 shares of Zendesk stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $76.75, for a total value of $1,535,000.00. Following the sale, the chief operating officer now directly owns 687 shares in the company, valued at $52,727.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 173,743 shares of company stock valued at $13,115,598. 2.92% of the stock is owned by corporate insiders.

Institutional Trading of Zendesk

A number of hedge funds have recently made changes to their positions in ZEN. Capital World Investors boosted its stake in shares of Zendesk by 47.8% during the fourth quarter. Capital World Investors now owns 14,666,370 shares of the software maker’s stock valued at $1,529,556,000 after purchasing an additional 4,743,356 shares in the last quarter. Contour Asset Management LLC boosted its stake in shares of Zendesk by 1,238.0% during the fourth quarter. Contour Asset Management LLC now owns 1,441,826 shares of the software maker’s stock valued at $150,368,000 after purchasing an additional 1,334,069 shares in the last quarter. TIG Advisors LLC boosted its stake in shares of Zendesk by 216.1% during the second quarter. TIG Advisors LLC now owns 1,929,922 shares of the software maker’s stock valued at $142,949,000 after purchasing an additional 1,319,432 shares in the last quarter. Third Point LLC bought a new position in shares of Zendesk during the fourth quarter worth about $136,036,000. Finally, Spyglass Capital Management LLC bought a new position in shares of Zendesk during the fourth quarter worth about $118,690,000. 90.15% of the stock is owned by institutional investors and hedge funds.

Zendesk Price Performance

Shares of NYSE ZEN opened at $76.59 on Friday. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 3.48. The business’s 50 day moving average price is $75.89 and its two-hundred day moving average price is $93.22. The company has a market cap of $9.46 billion, a PE ratio of -33.59 and a beta of 0.97. Zendesk has a twelve month low of $54.16 and a twelve month high of $136.30.

Zendesk (NYSE:ZENGet Rating) last posted its earnings results on Thursday, July 28th. The software maker reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.12). Zendesk had a negative return on equity of 42.82% and a negative net margin of 18.33%. The business had revenue of $407.21 million for the quarter, compared to analyst estimates of $404.68 million. During the same period in the previous year, the firm posted ($0.35) earnings per share. The firm’s revenue was up 28.0% compared to the same quarter last year. On average, analysts predict that Zendesk will post -0.99 EPS for the current year.

Zendesk Company Profile

(Get Rating)

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)

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