Zendesk (ZEN) Price Target Raised to $94.00 at Deutsche Bank

Zendesk (NYSE:ZEN) had its price target hoisted by Deutsche Bank from $88.00 to $94.00 in a research note issued to investors on Friday, March 29th, The Fly reports. The firm currently has a buy rating on the software maker’s stock.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Zendesk from a buy rating to a hold rating in a report on Thursday, March 21st. KeyCorp increased their target price on shares of Zendesk from $71.00 to $92.00 and gave the company an overweight rating in a research report on Wednesday, February 6th. Royal Bank of Canada increased their target price on shares of Zendesk to $90.00 and gave the company an outperform rating in a research report on Wednesday, February 6th. Wedbush dropped their target price on shares of Zendesk from $75.00 to $71.00 and set an outperform rating on the stock in a research report on Monday, February 4th. Finally, Craig Hallum increased their target price on shares of Zendesk from $68.00 to $84.00 and gave the company a buy rating in a research report on Wednesday, February 6th. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Zendesk currently has an average rating of Buy and a consensus price target of $78.99.

Zendesk stock traded up $0.20 during mid-day trading on Friday, reaching $80.90. 1,484,317 shares of the company’s stock were exchanged, compared to its average volume of 1,325,508. The firm has a market cap of $8.84 billion, a PE ratio of -85.16 and a beta of 1.66. Zendesk has a twelve month low of $45.60 and a twelve month high of $86.85. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.10.

Zendesk (NYSE:ZEN) last released its earnings results on Tuesday, February 5th. The software maker reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.38. The company had revenue of $172.25 million for the quarter, compared to analyst estimates of $165.56 million. Zendesk had a negative net margin of 21.89% and a negative return on equity of 24.19%. The firm’s quarterly revenue was up 41.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.01) EPS. On average, equities research analysts anticipate that Zendesk will post -0.96 earnings per share for the current fiscal year.

In other news, CMO Jeffrey J. Titterton sold 503 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $82.01, for a total value of $41,251.03. Following the completion of the sale, the chief marketing officer now owns 14,752 shares in the company, valued at approximately $1,209,811.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Elena Gomez sold 500 shares of the firm’s stock in a transaction on Wednesday, January 23rd. The stock was sold at an average price of $65.00, for a total transaction of $32,500.00. Following the completion of the sale, the chief financial officer now owns 24,326 shares of the company’s stock, valued at approximately $1,581,190. The disclosure for this sale can be found here. Insiders sold a total of 89,613 shares of company stock valued at $7,047,065 in the last 90 days. Company insiders own 4.70% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in ZEN. Flinton Capital Management LLC acquired a new stake in shares of Zendesk in the fourth quarter valued at about $30,000. Intercontinental Wealth Advisors LLC acquired a new stake in shares of Zendesk in the fourth quarter valued at about $34,000. Ipswich Investment Management Co. Inc. acquired a new stake in shares of Zendesk in the fourth quarter valued at about $41,000. Sageworth Trust Co acquired a new stake in shares of Zendesk in the first quarter valued at about $42,000. Finally, Sonora Investment Management LLC acquired a new stake in shares of Zendesk in the first quarter valued at about $51,000. Hedge funds and other institutional investors own 96.55% of the company’s stock.

About Zendesk

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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