Zendesk’s (ZEN) “Buy” Rating Reiterated at Craig Hallum

Craig Hallum reiterated their buy rating on shares of Zendesk (NYSE:ZEN) in a research note issued to investors on Wednesday morning, The Fly reports. The brokerage currently has a $45.00 target price on the software maker’s stock, up from their prior target price of $37.00.

A number of other research analysts also recently weighed in on ZEN. Zacks Investment Research reissued a hold rating on shares of Zendesk in a research report on Saturday, January 27th. Royal Bank of Canada reaffirmed a buy rating and issued a $35.00 price objective on shares of Zendesk in a report on Wednesday, October 18th. Piper Jaffray Companies reaffirmed a buy rating and issued a $42.00 price objective on shares of Zendesk in a report on Tuesday, January 23rd. Stephens raised shares of Zendesk from an underweight rating to an equal weight rating in a report on Wednesday. Finally, Canaccord Genuity raised their price objective on shares of Zendesk from $34.00 to $36.00 and gave the stock a buy rating in a report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. Zendesk currently has a consensus rating of Buy and a consensus target price of $40.31.

Zendesk (NYSE ZEN) opened at $40.47 on Wednesday. Zendesk has a 52-week low of $24.30 and a 52-week high of $42.35.

Zendesk (NYSE:ZEN) last released its earnings results on Tuesday, February 6th. The software maker reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.03. Zendesk had a negative net margin of 25.70% and a negative return on equity of 32.88%. The firm had revenue of $123.43 million during the quarter, compared to the consensus estimate of $119.68 million. During the same period in the prior year, the firm earned ($0.04) EPS. The company’s revenue was up 39.3% compared to the same quarter last year. research analysts expect that Zendesk will post -1.07 earnings per share for the current year.

In other Zendesk news, CFO Elena Gomez sold 1,200 shares of the firm’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $33.66, for a total value of $40,392.00. Following the completion of the transaction, the chief financial officer now directly owns 2,535 shares of the company’s stock, valued at approximately $85,328.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP John Geschke sold 9,727 shares of the firm’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $35.09, for a total transaction of $341,320.43. Following the completion of the transaction, the senior vice president now directly owns 16,195 shares of the company’s stock, valued at $568,282.55. The disclosure for this sale can be found here. Over the last three months, insiders sold 101,426 shares of company stock valued at $3,543,308. Insiders own 5.30% of the company’s stock.

A number of large investors have recently made changes to their positions in ZEN. Wasatch Advisors Inc. boosted its holdings in Zendesk by 26.5% in the 2nd quarter. Wasatch Advisors Inc. now owns 3,919,479 shares of the software maker’s stock valued at $108,883,000 after purchasing an additional 820,465 shares during the period. Ameriprise Financial Inc. boosted its holdings in Zendesk by 755.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 827,334 shares of the software maker’s stock valued at $24,083,000 after purchasing an additional 730,570 shares during the period. Vanguard Group Inc. boosted its holdings in Zendesk by 10.9% in the 2nd quarter. Vanguard Group Inc. now owns 7,365,549 shares of the software maker’s stock valued at $204,615,000 after purchasing an additional 721,652 shares during the period. Crosslink Capital Inc. boosted its holdings in Zendesk by 934.6% in the 2nd quarter. Crosslink Capital Inc. now owns 788,714 shares of the software maker’s stock valued at $21,910,000 after purchasing an additional 712,480 shares during the period. Finally, State Street Corp boosted its holdings in Zendesk by 22.6% in the 2nd quarter. State Street Corp now owns 1,813,976 shares of the software maker’s stock valued at $50,395,000 after purchasing an additional 334,769 shares during the period. 93.94% of the stock is owned by hedge funds and other institutional investors.

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Zendesk Company Profile

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.

The Fly

Analyst Recommendations for Zendesk (NYSE:ZEN)

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