Zendesk (NYSE:ZEN) Raised to “Buy” at ValuEngine

ValuEngine upgraded shares of Zendesk (NYSE:ZEN) from a hold rating to a buy rating in a research note released on Wednesday morning, ValuEngine reports.

A number of other analysts have also recently commented on the stock. Royal Bank of Canada reaffirmed an outperform rating and set a $115.00 price target on shares of Zendesk in a research report on Friday, February 7th. Piper Jaffray Companies started coverage on shares of Zendesk in a research report on Tuesday, November 26th. They set an overweight rating and a $94.00 price target on the stock. Canaccord Genuity upped their price target on shares of Zendesk from $85.00 to $100.00 and gave the company a buy rating in a research report on Friday, February 7th. Cowen upped their price target on shares of Zendesk from $95.00 to $105.00 and gave the company an outperform rating in a research report on Friday, February 7th. Finally, Zacks Investment Research cut shares of Zendesk from a buy rating to a hold rating and set a $97.00 price target on the stock. in a research report on Saturday, February 8th. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Zendesk currently has a consensus rating of Buy and a consensus price target of $100.76.

Shares of ZEN opened at $90.48 on Wednesday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.29. The firm’s fifty day simple moving average is $83.84 and its two-hundred day simple moving average is $77.49. Zendesk has a 12 month low of $62.38 and a 12 month high of $94.89.

Zendesk (NYSE:ZEN) last issued its quarterly earnings results on Thursday, February 6th. The software maker reported $0.10 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.10. The business had revenue of $229.87 million for the quarter, compared to analysts’ expectations of $227.61 million. Zendesk had a negative net margin of 20.78% and a negative return on equity of 27.34%. The business’s quarterly revenue was up 33.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.11 earnings per share. On average, equities research analysts predict that Zendesk will post -0.74 earnings per share for the current year.

In other news, insider Adrian Mcdermott sold 715 shares of Zendesk stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $77.38, for a total transaction of $55,326.70. Following the completion of the transaction, the insider now directly owns 81,464 shares in the company, valued at $6,303,684.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Elena Gomez sold 4,500 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $77.11, for a total transaction of $346,995.00. Following the sale, the chief financial officer now directly owns 21,653 shares of the company’s stock, valued at $1,669,662.83. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,680 shares of company stock worth $2,874,515. Corporate insiders own 4.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. ProShare Advisors LLC raised its stake in shares of Zendesk by 2.6% in the fourth quarter. ProShare Advisors LLC now owns 5,351 shares of the software maker’s stock worth $410,000 after purchasing an additional 134 shares during the last quarter. Cerebellum GP LLC boosted its holdings in Zendesk by 3.7% during the third quarter. Cerebellum GP LLC now owns 3,905 shares of the software maker’s stock worth $132,000 after purchasing an additional 141 shares during the last quarter. Piedmont Investment Advisors Inc. grew its position in Zendesk by 1.9% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 8,307 shares of the software maker’s stock worth $637,000 after purchasing an additional 152 shares in the last quarter. Mastrapasqua Asset Management Inc. grew its position in Zendesk by 2.2% in the 4th quarter. Mastrapasqua Asset Management Inc. now owns 10,908 shares of the software maker’s stock worth $836,000 after purchasing an additional 233 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Zendesk by 3.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,072 shares of the software maker’s stock valued at $542,000 after buying an additional 241 shares during the last quarter. 96.01% of the stock is currently owned by institutional investors and hedge funds.

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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