Zendesk (ZEN) Rating Reiterated by Piper Jaffray Companies

Zendesk (NYSE:ZEN)‘s stock had its “buy” rating reissued by research analysts at Piper Jaffray Companies in a report issued on Wednesday. They currently have a $46.00 target price on the software maker’s stock. Piper Jaffray Companies’ price target indicates a potential upside of 19.48% from the stock’s current price.

A number of other analysts also recently weighed in on the company. Guggenheim restated a “buy” rating and issued a $44.00 target price on shares of Zendesk in a research report on Wednesday. Cowen boosted their target price on Zendesk from $39.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday. Morgan Stanley boosted their target price on Zendesk from $41.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday. Bank of America boosted their target price on Zendesk from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, KeyCorp boosted their target price on Zendesk from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $40.31.

Shares of Zendesk (NYSE ZEN) opened at $38.50 on Wednesday. The firm has a market capitalization of $3,900.92, a P/E ratio of -34.68 and a beta of 1.87. Zendesk has a 12-month low of $24.49 and a 12-month 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, topping the Zacks’ consensus estimate of ($0.04) by $0.03. The company had revenue of $123.43 million during the quarter, compared to the consensus estimate of $119.68 million. Zendesk had a negative return on equity of 32.88% and a negative net margin of 25.70%. Zendesk’s quarterly revenue was up 39.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.04) EPS. equities analysts forecast that Zendesk will post -1.07 earnings per share for the current year.

In related news, SVP John Geschke sold 787 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $35.05, for a total transaction of $27,584.35. Following the completion of the transaction, the senior vice president now owns 12,582 shares in the company, valued at $440,999.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Elena Gomez sold 1,604 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $34.37, for a total value of $55,129.48. Following the transaction, the chief financial officer now owns 4,430 shares of the company’s stock, valued at approximately $152,259.10. The disclosure for this sale can be found here. Insiders sold 101,426 shares of company stock valued at $3,543,308 in the last quarter. Corporate insiders own 5.30% of the company’s stock.

Several institutional investors have recently made changes to their positions in ZEN. Prudential Financial Inc. bought a new position in shares of Zendesk during the second quarter valued at approximately $245,000. Principal Financial Group Inc. raised its holdings in shares of Zendesk by 16.5% during the second quarter. Principal Financial Group Inc. now owns 13,522 shares of the software maker’s stock valued at $376,000 after acquiring an additional 1,917 shares in the last quarter. Teachers Advisors LLC raised its holdings in shares of Zendesk by 24.5% during the second quarter. Teachers Advisors LLC now owns 175,967 shares of the software maker’s stock valued at $4,888,000 after acquiring an additional 34,599 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Zendesk by 125.8% during the second quarter. Ameriprise Financial Inc. now owns 96,764 shares of the software maker’s stock valued at $2,687,000 after acquiring an additional 53,901 shares in the last quarter. Finally, New York State Common Retirement Fund raised its holdings in shares of Zendesk by 3.7% during the second quarter. New York State Common Retirement Fund now owns 103,900 shares of the software maker’s stock valued at $2,886,000 after acquiring an additional 3,719 shares in the last quarter. Institutional investors own 93.94% of the company’s stock.

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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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