Today, Zendesk’s (ZEN) “Buy” Rating Reiterate at JMP Securities

Today, Zendesk’s (ZEN) “Buy” Rating Reiterate at JMP Securities

JMP Securities reaffirmed their buy rating on shares of Zendesk Inc. (NYSE:ZEN) in a research note issued to investors on Monday morning.

ZEN has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Zendesk from a hold rating to a buy rating and set a $28.00 price objective for the company in a report on Tuesday, November 8th. Piper Jaffray Cos. reiterated an overweight rating and set a $35.00 price objective on shares of Zendesk in a report on Saturday, August 13th. Royal Bank Of Canada lifted their price objective on shares of Zendesk from $27.00 to $33.00 and gave the company an outperform rating in a report on Wednesday, July 27th. Canaccord Genuity reiterated a buy rating and set a $35.00 price objective on shares of Zendesk in a report on Thursday, August 4th. Finally, RBC Capital Markets reiterated an outperform rating and set a $33.00 price objective (up from $27.00) on shares of Zendesk in a report on Wednesday, July 27th. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $32.27.

Zendesk (NYSE:ZEN) opened at 22.34 on Monday. Zendesk has a 12 month low of $14.39 and a 12 month high of $31.88. The firm’s market cap is $2.13 billion. The firm’s 50 day moving average is $25.56 and its 200-day moving average is $27.53.

Zendesk (NYSE:ZEN) last issued its quarterly earnings data on Tuesday, November 1st. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. The firm earned $80.70 million during the quarter. Zendesk had a negative net margin of 36.27% and a negative return on equity of 32.56%. The firm’s quarterly revenue was up 44.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.05) earnings per share. On average, equities analysts forecast that Zendesk will post ($0.24) EPS for the current year.

In other Zendesk news, Director Caryn Marooney sold 1,693 shares of Zendesk stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $31.19, for a total value of $52,804.67. Following the sale, the director now owns 24,911 shares of the company’s stock, valued at $776,974.09. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP John Geschke sold 6,615 shares of Zendesk stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $23.01, for a total transaction of $152,211.15. Following the completion of the sale, the senior vice president now directly owns 12,705 shares in the company, valued at approximately $292,342.05. The disclosure for this sale can be found here. 17.00% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in ZEN. BlackRock Institutional Trust Company N.A. raised its stake in shares of Zendesk by 2.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,335,980 shares of the company’s stock valued at $27,962,000 after buying an additional 38,268 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Zendesk by 26.8% in the first quarter. Goldman Sachs Group Inc. now owns 67,137 shares of the company’s stock valued at $1,406,000 after buying an additional 14,178 shares in the last quarter. Barclays PLC raised its stake in shares of Zendesk by 128.3% in the first quarter. Barclays PLC now owns 37,882 shares of the company’s stock valued at $758,000 after buying an additional 21,291 shares in the last quarter. Thrax Management LLC raised its stake in shares of Zendesk by 38.7% in the first quarter. Thrax Management LLC now owns 549,550 shares of the company’s stock valued at $11,502,000 after buying an additional 153,336 shares in the last quarter. Finally, Hamilton Lane Advisors LLC raised its stake in shares of Zendesk by 39.8% in the second quarter. Hamilton Lane Advisors LLC now owns 80,763 shares of the company’s stock valued at $1,978,000 after buying an additional 22,983 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

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