Zendesk (ZEN) Hits New 1-Year High at $84.56

Zendesk Inc (NYSE:ZEN) hit a new 52-week high during trading on Tuesday . The stock traded as high as $84.56 and last traded at $84.22, with a volume of 32247 shares trading hands. The stock had previously closed at $82.92.

Several brokerages recently commented on ZEN. KeyCorp raised their target price on Zendesk from $71.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, February 6th. Craig Hallum lifted their price objective on Zendesk from $68.00 to $84.00 and gave the stock a “buy” rating in a report on Wednesday, February 6th. Zacks Investment Research upgraded Zendesk from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Sunday, January 6th. Canaccord Genuity lifted their price objective on Zendesk from $65.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, February 6th. Finally, Stephens began coverage on Zendesk in a report on Wednesday, January 16th. They set an “overweight” rating and a $78.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $77.44.

The company has a debt-to-equity ratio of 1.10, a current ratio of 1.67 and a quick ratio of 1.67. The firm has a market cap of $8.99 billion, a price-to-earnings ratio of -88.29 and a beta of 1.66.

Zendesk (NYSE:ZEN) last issued its quarterly earnings results on Tuesday, February 5th. The software maker reported $0.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.28) by $0.38. Zendesk had a negative return on equity of 24.19% and a negative net margin of 21.89%. The business had revenue of $172.25 million during the quarter, compared to the consensus estimate of $165.56 million. During the same period in the previous year, the business earned ($0.01) EPS. The business’s quarterly revenue was up 41.3% on a year-over-year basis. Sell-side analysts expect that Zendesk Inc will post -0.96 EPS for the current year.

In related news, CEO Mikkel Svane sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $78.61, for a total transaction of $3,930,500.00. Following the completion of the transaction, the chief executive officer now owns 1,470,029 shares in the company, valued at approximately $115,558,979.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Adrian Mcdermott sold 2,241 shares of the business’s stock in a transaction that occurred on Thursday, January 17th. The shares were sold at an average price of $63.11, for a total value of $141,429.51. Following the transaction, the insider now owns 80,267 shares of the company’s stock, valued at approximately $5,065,650.37. The disclosure for this sale can be found here. Insiders sold a total of 110,302 shares of company stock valued at $8,142,103 over the last quarter. Company insiders own 4.70% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Zendesk by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 8,930,795 shares of the software maker’s stock valued at $634,087,000 after purchasing an additional 360,069 shares during the period. Vanguard Group Inc boosted its position in Zendesk by 4.2% during the 3rd quarter. Vanguard Group Inc now owns 8,930,795 shares of the software maker’s stock worth $634,087,000 after acquiring an additional 360,069 shares during the period. Janus Henderson Group PLC boosted its position in Zendesk by 3.3% during the 3rd quarter. Janus Henderson Group PLC now owns 3,678,304 shares of the software maker’s stock worth $261,160,000 after acquiring an additional 118,127 shares during the period. Franklin Resources Inc. boosted its position in Zendesk by 6.1% during the 3rd quarter. Franklin Resources Inc. now owns 3,013,314 shares of the software maker’s stock worth $213,943,000 after acquiring an additional 172,294 shares during the period. Finally, Deutsche Bank AG boosted its position in Zendesk by 20.8% during the 3rd quarter. Deutsche Bank AG now owns 2,191,966 shares of the software maker’s stock worth $155,628,000 after acquiring an additional 377,797 shares during the period. Institutional investors and hedge funds own 95.68% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Zendesk (ZEN) Hits New 1-Year High at $84.56” was reported by Community Financial News and is the sole property of of Community Financial News. If you are accessing this piece on another website, it was stolen and reposted in violation of U.S. and international copyright and trademark legislation. The original version of this piece can be viewed at https://www.com-unik.info/2019/03/19/zendesk-zen-hits-new-1-year-high-at-84-56.html.

About Zendesk (NYSE:ZEN)

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.

Read More: How is inflation measured?

Receive News & Ratings for Zendesk Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zendesk and related companies with MarketBeat.com's FREE daily email newsletter.



Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit