Zendesk (NYSE:ZEN) Research Coverage Started at Compass Point

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Compass Point began coverage on shares of Zendesk (NYSE:ZEN) in a report issued on Tuesday morning, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $100.00 target price on the software maker’s stock.

ZEN has been the topic of a number of other research reports. Jefferies Financial Group lifted their target price on Zendesk from $102.00 to $108.00 and gave the company a buy rating in a research report on Wednesday, July 31st. Bank of America reaffirmed a buy rating and issued a $105.00 target price (up previously from $100.00) on shares of Zendesk in a research report on Wednesday, May 1st. Morgan Stanley lifted their target price on Zendesk from $97.00 to $102.00 and gave the company an overweight rating in a research report on Wednesday, May 1st. Craig Hallum reaffirmed a buy rating and issued a $110.00 target price (up previously from $84.00) on shares of Zendesk in a research report on Wednesday, May 1st. Finally, JMP Securities lifted their target price on Zendesk from $82.00 to $100.00 and gave the company a market outperform rating in a research report on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Zendesk has a consensus rating of Buy and a consensus price target of $97.29.

ZEN opened at $74.62 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.67 and a quick ratio of 0.67. The business’s 50-day moving average price is $87.48 and its two-hundred day moving average price is $84.11. The company has a market capitalization of $8.29 billion, a price-to-earnings ratio of -78.55 and a beta of 1.51. Zendesk has a 1 year low of $45.60 and a 1 year high of $94.89.

Zendesk (NYSE:ZEN) last released its earnings results on Tuesday, July 30th. The software maker reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.33. The business had revenue of $194.58 million for the quarter, compared to the consensus estimate of $192.47 million. Zendesk had a negative return on equity of 27.44% and a negative net margin of 23.70%. Zendesk’s quarterly revenue was up 37.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 earnings per share. Sell-side analysts anticipate that Zendesk will post -1.13 earnings per share for the current fiscal year.

In other news, CMO Jeffrey J. Titterton sold 388 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $91.96, for a total transaction of $35,680.48. Following the completion of the sale, the chief marketing officer now owns 12,307 shares in the company, valued at $1,131,751.72. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Norman Gennaro sold 752 shares of the business’s stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $88.42, for a total value of $66,491.84. Following the sale, the senior vice president now owns 14,000 shares of the company’s stock, valued at approximately $1,237,880. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,669 shares of company stock valued at $7,785,600. Corporate insiders own 4.60% of the company’s stock.

Several large investors have recently modified their holdings of the company. Cypress Funds LLC boosted its stake in shares of Zendesk by 35.3% in the second quarter. Cypress Funds LLC now owns 345,000 shares of the software maker’s stock valued at $30,715,000 after buying an additional 90,000 shares during the period. FIL Ltd raised its position in Zendesk by 198.6% during the first quarter. FIL Ltd now owns 350,124 shares of the software maker’s stock valued at $29,761,000 after purchasing an additional 232,866 shares in the last quarter. Alphasimplex Group LLC acquired a new position in Zendesk during the first quarter valued at approximately $1,000,000. TradeLink Capital LLC acquired a new position in Zendesk during the first quarter valued at approximately $374,000. Finally, Quantamental Technologies LLC acquired a new position in Zendesk during the first quarter valued at approximately $176,000. Institutional investors own 96.40% 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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Analyst Recommendations for Zendesk (NYSE:ZEN)

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