Zendesk (NYSE:ZEN) PT Set at $92.00 by Stifel Nicolaus

Zendesk (NYSE:ZEN) has been assigned a $92.00 price objective by analysts at Stifel Nicolaus in a research report issued on Wednesday, TipRanks reports. The firm currently has a “hold” rating on the software maker’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 14.71% from the company’s previous close.

Several other equities analysts have also recently issued reports on ZEN. Zacks Investment Research raised Zendesk from a “hold” rating to a “buy” rating and set a $103.00 price objective on the stock in a research report on Sunday, July 14th. KeyCorp reiterated a “buy” rating and issued a $108.00 price target (up previously from $102.00) on shares of Zendesk in a research note on Tuesday. Jefferies Financial Group increased their price target on Zendesk from $102.00 to $108.00 and gave the stock a “buy” rating in a research note on Wednesday. Goldman Sachs Group assumed coverage on Zendesk in a research note on Friday, June 7th. They issued a “buy” rating and a $105.00 price target for the company. Finally, Bank of America restated a “buy” rating and set a $105.00 price objective (up previously from $100.00) on shares of Zendesk in a research report on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $95.79.

Shares of ZEN stock traded down $2.48 during midday trading on Wednesday, reaching $80.20. 3,717,000 shares of the stock were exchanged, compared to its average volume of 1,743,430. Zendesk has a 1 year low of $45.60 and a 1 year high of $94.89. The company has a 50 day simple moving average of $90.69. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.54 and a current ratio of 1.54. The firm has a market cap of $10.20 billion, a price-to-earnings ratio of -84.42 and a beta of 1.52.

Zendesk (NYSE:ZEN) last released its quarterly earnings data on Tuesday, July 30th. The software maker reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.33. The business had revenue of $194.58 million for the quarter, compared to analysts’ expectations of $192.47 million. Zendesk had a negative return on equity of 25.37% and a negative net margin of 22.52%. The firm’s quarterly revenue was up 37.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 EPS. As a group, research analysts forecast that Zendesk will post -1.07 earnings per share for the current fiscal year.

In related news, SVP Norman Gennaro sold 753 shares of Zendesk stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $88.16, for a total transaction of $66,384.48. Following the transaction, the senior vice president now directly owns 13,382 shares of the company’s stock, valued at $1,179,757.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CMO Jeffrey J. Titterton sold 388 shares of Zendesk stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $91.96, for a total transaction of $35,680.48. Following the transaction, the chief marketing officer now directly owns 12,307 shares in the company, valued at $1,131,751.72. The disclosure for this sale can be found here. Insiders have sold 120,561 shares of company stock valued at $10,532,884 in the last ninety days. Insiders own 4.60% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Capital Investment Advisory Services LLC purchased a new position in Zendesk in the first quarter worth $34,000. Sageworth Trust Co purchased a new position in Zendesk in the first quarter worth $42,000. CWM LLC grew its holdings in Zendesk by 90.0% in the first quarter. CWM LLC now owns 532 shares of the software maker’s stock worth $45,000 after purchasing an additional 252 shares during the last quarter. Sonora Investment Management LLC purchased a new position in Zendesk in the first quarter worth $51,000. Finally, Advisory Services Network LLC bought a new position in Zendesk during the second quarter valued at approximately $80,000. 97.48% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Zendesk (NYSE:ZEN)

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