Craig Hallum Reiterates Buy Rating for Zendesk (ZEN)

Zendesk (NYSE:ZEN)‘s stock had its “buy” rating reiterated by research analysts at Craig Hallum in a note issued to investors on Wednesday, The Fly reports. They presently have a $110.00 target price on the software maker’s stock, up from their previous target price of $84.00. Craig Hallum’s price target points to a potential upside of 31.50% from the company’s current price.

A number of other research analysts have also recently weighed in on ZEN. Zacks Investment Research raised shares of Zendesk from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a research note on Thursday, April 4th. KeyCorp raised their price objective on shares of Zendesk from $92.00 to $102.00 and gave the stock an “overweight” rating in a research note on Wednesday. Canaccord Genuity raised their price objective on shares of Zendesk from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday. Wedbush reaffirmed an “outperform” rating and issued a $93.00 target price on shares of Zendesk in a research note on Monday. Finally, Bank of America reaffirmed a “buy” rating and issued a $105.00 target price (up from $100.00) on shares of Zendesk in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Zendesk currently has an average rating of “Buy” and an average target price of $90.67.

Shares of ZEN opened at $83.65 on Wednesday. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.67 and a quick ratio of 1.67. Zendesk has a 1-year low of $45.60 and a 1-year high of $87.92. The company has a market cap of $9.26 billion, a PE ratio of -88.05 and a beta of 1.64.

Zendesk (NYSE:ZEN) last issued its quarterly earnings data on Tuesday, April 30th. The software maker reported ($0.28) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.28). Zendesk had a negative net margin of 22.52% and a negative return on equity of 25.53%. The business had revenue of $181.48 million during the quarter, compared to analysts’ expectations of $179.53 million. During the same period last year, the company posted $0.02 EPS. The company’s revenue was up 39.8% on a year-over-year basis. As a group, sell-side analysts expect that Zendesk will post -0.96 earnings per share for the current fiscal year.

In other Zendesk news, Director Caryn Marooney sold 2,719 shares of Zendesk stock in a transaction on Monday, February 11th. The shares were sold at an average price of $77.00, for a total value of $209,363.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Elena Gomez sold 5,500 shares of Zendesk stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $80.87, for a total transaction of $444,785.00. Following the completion of the transaction, the chief financial officer now owns 27,316 shares in the company, valued at approximately $2,209,044.92. The disclosure for this sale can be found here. Insiders sold a total of 94,613 shares of company stock valued at $7,459,350 over the last ninety days. 4.60% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in ZEN. Flinton Capital Management LLC acquired a new position in shares of Zendesk in the 4th quarter valued at $30,000. Intercontinental Wealth Advisors LLC acquired a new position in shares of Zendesk in the 4th quarter valued at $34,000. Capital Investment Advisory Services LLC acquired a new position in shares of Zendesk in the 1st quarter valued at $34,000. Ipswich Investment Management Co. Inc. acquired a new position in shares of Zendesk in the 4th quarter valued at $41,000. Finally, Sageworth Trust Co acquired a new position in shares of Zendesk in the 1st quarter valued at $42,000. Institutional investors own 95.63% of the company’s stock.

Zendesk Company Profile

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.

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The Fly

Analyst Recommendations for Zendesk (NYSE:ZEN)

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