Zendesk, Inc. (NYSE:ZEN)’s share price rose NaN on Thursday following a better than expected earnings announcement. The company traded as high as $35.00 and last traded at $0.00. Approximately 2,947,824 shares changed hands during trading, an increase of Infinity from the average daily volume of 0 shares. The software maker reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.04. Zendesk had a negative net margin of 27.43% and a negative return on equity of 32.55%. The business had revenue of $112.79 million for the quarter, compared to analysts’ expectations of $109.19 million. During the same period in the previous year, the company posted ($0.04) earnings per share. The business’s revenue for the quarter was up 39.7% compared to the same quarter last year.
ZEN has been the topic of a number of recent research reports. Royal Bank Of Canada reissued a “buy” rating and set a $35.00 target price on shares of Zendesk in a research report on Wednesday, October 18th. Evercore ISI started coverage on shares of Zendesk in a research note on Friday, September 8th. They issued an “outperform” rating and a $34.00 price target for the company. Zacks Investment Research lowered shares of Zendesk from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. KeyCorp restated a “buy” rating and issued a $35.00 price target on shares of Zendesk in a research note on Friday, August 4th. Finally, Stifel Nicolaus restated a “hold” rating on shares of Zendesk in a research note on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $33.80.
In other Zendesk news, insider Adrian Mcdermott sold 1,767 shares of the business’s stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $30.10, for a total transaction of $53,186.70. Following the completion of the sale, the insider now owns 80,726 shares in the company, valued at $2,429,852.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Elena Gomez sold 1,431 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $27.06, for a total transaction of $38,722.86. Following the sale, the chief financial officer now owns 6,157 shares of the company’s stock, valued at approximately $166,608.42. The disclosure for this sale can be found here. In the last quarter, insiders have sold 85,823 shares of company stock valued at $2,429,819. 5.30% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. bought a new stake in Zendesk during the first quarter valued at $103,000. Advisor Group Inc. increased its stake in Zendesk by 44.3% during the second quarter. Advisor Group Inc. now owns 3,701 shares of the software maker’s stock valued at $103,000 after purchasing an additional 1,137 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in Zendesk during the third quarter valued at $105,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Zendesk by 10.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,887 shares of the software maker’s stock valued at $108,000 after purchasing an additional 352 shares during the last quarter. Finally, Fortaleza Asset Management Inc. bought a new position in shares of Zendesk during the second quarter worth about $115,000. Hedge funds and other institutional investors own 96.23% of the company’s stock.
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Zendesk, Inc (Zendesk) is a software development company. The Zendesk family of products is built to work together to help organizations understand and manage customer relationships. All Zendesk products share a common interface and are being developed to support a shared services infrastructure and common customer data platform.
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