Zendesk (NYSE:ZEN) had its price target lifted by analysts at Goldman Sachs Group from $96.00 to $113.00 in a research report issued to clients and investors on Monday, The Fly reports. Goldman Sachs Group’s price objective suggests a potential upside of 27.64% from the company’s current price.
Other analysts have also recently issued reports about the stock. Royal Bank of Canada raised their price target on shares of Zendesk from $85.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. UBS Group dropped their target price on shares of Zendesk from $88.00 to $80.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. Morgan Stanley dropped their target price on shares of Zendesk from $107.00 to $83.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 25th. Canaccord Genuity boosted their target price on shares of Zendesk from $85.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. Finally, Oppenheimer assumed coverage on shares of Zendesk in a research report on Friday, May 1st. They set a “buy” rating and a $80.00 target price on the stock. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $92.15.
Shares of ZEN opened at $88.53 on Monday. The firm’s 50 day moving average is $81.91 and its 200-day moving average is $77.46. The stock has a market capitalization of $9.86 billion, a P/E ratio of -58.63 and a beta of 1.34. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.44 and a quick ratio of 1.44. Zendesk has a 12-month low of $50.23 and a 12-month high of $94.89.
Zendesk (NYSE:ZEN) last announced its quarterly earnings data on Thursday, April 30th. The software maker reported $0.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.04. Zendesk had a negative net margin of 19.23% and a negative return on equity of 26.62%. The company had revenue of $237.50 million for the quarter, compared to analysts’ expectations of $236.94 million. During the same quarter in the previous year, the company posted $0.04 EPS. The business’s revenue was up 30.9% compared to the same quarter last year. As a group, equities research analysts forecast that Zendesk will post -0.76 EPS for the current fiscal year.
In other news, CFO Elena Gomez sold 5,000 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $82.00, for a total value of $410,000.00. Following the completion of the sale, the chief financial officer now directly owns 22,636 shares of the company’s stock, valued at approximately $1,856,152. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Carl Bass sold 9,668 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $77.18, for a total value of $746,176.24. Following the completion of the sale, the director now directly owns 11,468 shares of the company’s stock, valued at $885,100.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 136,657 shares of company stock valued at $10,543,176. 4.30% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC increased its stake in shares of Zendesk by 17.9% in the 1st quarter. Janus Henderson Group PLC now owns 6,218,718 shares of the software maker’s stock valued at $398,051,000 after acquiring an additional 943,914 shares during the last quarter. Capital World Investors increased its stake in Zendesk by 792.5% during the 1st quarter. Capital World Investors now owns 4,765,978 shares of the software maker’s stock worth $305,070,000 after purchasing an additional 4,231,978 shares in the last quarter. Eagle Asset Management Inc. increased its stake in Zendesk by 99.8% during the 1st quarter. Eagle Asset Management Inc. now owns 2,202,123 shares of the software maker’s stock worth $154,868,000 after purchasing an additional 1,099,814 shares in the last quarter. Wells Fargo & Company MN increased its stake in Zendesk by 9.6% during the 1st quarter. Wells Fargo & Company MN now owns 1,840,780 shares of the software maker’s stock worth $117,829,000 after purchasing an additional 161,395 shares in the last quarter. Finally, Echo Street Capital Management LLC increased its stake in Zendesk by 27.9% during the 4th quarter. Echo Street Capital Management LLC now owns 1,420,888 shares of the software maker’s stock worth $108,883,000 after purchasing an additional 310,288 shares in the last quarter. 98.95% of the stock is owned by institutional investors.
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.
Read More: Understanding Market Liquidity
Receive News & Ratings for Zendesk Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zendesk and related companies with MarketBeat.com's FREE daily email newsletter.