Zendesk (NYSE:ZEN) Research Coverage Started at Compass Point

Compass Point assumed coverage on shares of Zendesk (NYSE:ZEN) in a report issued on Tuesday, BenzingaRatingsTable reports. The firm issued a buy rating and a $100.00 price objective on the software maker’s stock.

Several other equities research analysts also recently issued reports on the company. Craig Hallum reiterated a buy rating and set a $110.00 price target (up previously from $84.00) on shares of Zendesk in a report on Wednesday, May 1st. KeyCorp reiterated a buy rating and set a $108.00 price target (up previously from $102.00) on shares of Zendesk in a report on Tuesday, July 30th. Wells Fargo & Co upped their price target on Zendesk from $90.00 to $115.00 and gave the stock an outperform rating in a report on Wednesday, May 1st. Jefferies Financial Group upped their price objective on Zendesk from $102.00 to $108.00 and gave the company a buy rating in a research note on Wednesday, July 31st. Finally, Goldman Sachs Group initiated coverage on Zendesk in a research note on Friday, June 7th. They issued a buy rating and a $105.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $97.29.

Shares of Zendesk stock opened at $76.30 on Tuesday. The stock has a fifty day simple moving average of $87.25 and a 200 day simple moving average of $84.07. Zendesk has a 12-month low of $45.60 and a 12-month high of $94.89. The company has a market capitalization of $8.47 billion, a P/E ratio of -80.32 and a beta of 1.51. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.23.

Zendesk (NYSE:ZEN) last announced its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.33. Zendesk had a negative return on equity of 27.44% and a negative net margin of 23.70%. The business had revenue of $194.58 million during the quarter, compared to the consensus estimate of $192.47 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. Zendesk’s revenue was up 37.1% compared to the same quarter last year. On average, analysts predict that Zendesk will post -1.13 EPS for the current year.

In other news, Director Caryn Marooney sold 2,794 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $75.60, for a total transaction of $211,226.40. Following the completion of the transaction, the director now owns 61,938 shares in the company, valued at approximately $4,682,512.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mikkel Svane sold 50,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $74.96, for a total value of $3,748,000.00. Following the transaction, the chief executive officer now owns 1,377,934 shares of the company’s stock, valued at approximately $103,289,932.64. The disclosure for this sale can be found here. Insiders sold a total of 141,669 shares of company stock valued at $11,533,600 in the last 90 days. Corporate insiders own 4.60% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its stake in shares of Zendesk by 4.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,225 shares of the software maker’s stock worth $287,000 after acquiring an additional 140 shares during the period. Tyers Asset Management LLC grew its stake in shares of Zendesk by 7.2% during the 2nd quarter. Tyers Asset Management LLC now owns 2,492 shares of the software maker’s stock worth $222,000 after acquiring an additional 168 shares during the period. Capital Investment Advisory Services LLC grew its stake in shares of Zendesk by 50.0% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 600 shares of the software maker’s stock worth $56,000 after acquiring an additional 200 shares during the period. Flinton Capital Management LLC grew its stake in shares of Zendesk by 7.2% during the 2nd quarter. Flinton Capital Management LLC now owns 3,026 shares of the software maker’s stock worth $269,000 after acquiring an additional 204 shares during the period. Finally, Veritable L.P. grew its stake in shares of Zendesk by 5.5% during the 2nd quarter. Veritable L.P. now owns 4,290 shares of the software maker’s stock worth $382,000 after acquiring an additional 223 shares during the period. Institutional investors own 96.40% of the company’s stock.

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, applications, and mobile devices; Zendesk Talk, a cloud-based call center software; Zendesk Guide, a knowledge base that powers customer self-service and support agent productivity; Zendesk Sell, a sales force automation software to enhance productivity, processes, and pipeline visibility for sales teams; Zendesk Connect that manages customer communication across channels; and Zendesk Explore, which provides analytics for businesses to measure and enhance the customer experience.

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Analyst Recommendations for Zendesk (NYSE:ZEN)

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