Zendesk (ZEN) Rating Reiterated by Royal Bank of Canada

Zendesk (NYSE:ZEN)‘s stock had its “buy” rating reissued by investment analysts at Royal Bank of Canada in a report released on Wednesday. They currently have a $42.00 target price on the software maker’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 15.45% from the company’s current price.

Several other research analysts have also recently issued reports on ZEN. ValuEngine cut shares of Zendesk from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. Canaccord Genuity raised their target price on shares of Zendesk from $34.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. Morgan Stanley raised their target price on shares of Zendesk from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, November 2nd. Stifel Nicolaus restated a “neutral” rating on shares of Zendesk in a report on Friday, November 3rd. Finally, Zacks Investment Research upgraded shares of Zendesk from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a report on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $34.86.

Zendesk (ZEN) traded down $0.11 during mid-day trading on Wednesday, hitting $36.38. 604,800 shares of the company’s stock traded hands, compared to its average volume of 756,183. The stock has a market capitalization of $3,690.00, a P/E ratio of -33.07 and a beta of 1.83. Zendesk has a 52-week low of $22.88 and a 52-week high of $38.83.

Zendesk (NYSE:ZEN) last posted its quarterly earnings results on Wednesday, November 1st. The software maker reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.04. Zendesk had a negative net margin of 27.43% and a negative return on equity of 32.50%. The firm had revenue of $112.79 million for the quarter, compared to the consensus estimate of $109.19 million. During the same period last year, the firm posted ($0.04) earnings per share. The business’s revenue was up 39.7% compared to the same quarter last year. analysts expect that Zendesk will post -1.03 earnings per share for the current fiscal year.

In other news, insider Adrian Mcdermott sold 1,353 shares of Zendesk stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $34.19, for a total value of $46,259.07. Following the completion of the transaction, the insider now owns 80,948 shares of the company’s stock, valued at approximately $2,767,612.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP John Geschke sold 30,200 shares of Zendesk stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $34.36, for a total value of $1,037,672.00. Following the completion of the transaction, the senior vice president now directly owns 16,195 shares of the company’s stock, valued at approximately $556,460.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 165,833 shares of company stock worth $5,778,410. Company insiders own 5.30% of the company’s stock.

Large investors have recently modified their holdings of the business. Advisor Group Inc. raised its position in Zendesk by 44.3% in the 2nd quarter. Advisor Group Inc. now owns 3,701 shares of the software maker’s stock worth $103,000 after buying an additional 1,137 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in Zendesk in the 3rd quarter worth about $105,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Zendesk by 10.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,887 shares of the software maker’s stock worth $108,000 after buying an additional 352 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in Zendesk by 8.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 3,998 shares of the software maker’s stock worth $111,000 after buying an additional 323 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Zendesk in the 3rd quarter worth about $193,000. 95.67% of the stock is owned by institutional investors and hedge funds.

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About Zendesk

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.

Analyst Recommendations for Zendesk (NYSE:ZEN)

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