Shares of Zendesk Inc. (NYSE:ZEN) have been assigned an average rating of “Buy” from the seventeen research firms that are covering the stock. Two investment analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $32.54.
Several equities analysts have issued reports on ZEN shares. Summit Redstone started coverage on shares of Zendesk in a research note on Monday, July 18th. They issued a “buy” rating and a $34.00 price objective for the company. Summit Research reaffirmed a “buy” rating and issued a $34.00 target price on shares of Zendesk in a report on Monday, July 18th. Morgan Stanley reaffirmed a “buy” rating on shares of Zendesk in a report on Sunday, July 17th. Zacks Investment Research raised shares of Zendesk from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a report on Thursday, July 7th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $35.00 target price on shares of Zendesk in a report on Thursday, August 4th.
Shares of Zendesk (NYSE:ZEN) opened at 29.52 on Friday. The company has a 50-day moving average price of $30.52 and a 200 day moving average price of $26.71. Zendesk has a 12-month low of $14.39 and a 12-month high of $31.88. The firm’s market capitalization is $2.77 billion.
Zendesk (NYSE:ZEN) last released its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.03. Zendesk had a negative net margin of 37.10% and a negative return on equity of 30.61%. The company earned $74.20 million during the quarter, compared to the consensus estimate of $72.34 million. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. Zendesk’s revenue for the quarter was up 53.9% on a year-over-year basis. On average, equities analysts expect that Zendesk will post ($0.04) earnings per share for the current year.
In other news, Chairman Mikkel Svane sold 150,000 shares of the stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $30.59, for a total value of $4,588,500.00. Following the sale, the chairman now directly owns 3,421,984 shares in the company, valued at $104,678,490.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Adrian Mcdermott sold 5,552 shares of the stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $28.08, for a total transaction of $155,900.16. Following the completion of the sale, the senior vice president now owns 90,395 shares in the company, valued at $2,538,291.60. The disclosure for this sale can be found here. Company insiders own 17.00% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Zendesk by 100.5% in the second quarter. BlackRock Inc. now owns 7,675 shares of the company’s stock valued at $202,000 after buying an additional 3,847 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Zendesk by 112.8% in the third quarter. BNP Paribas Arbitrage SA now owns 6,806 shares of the company’s stock valued at $209,000 after buying an additional 3,607 shares in the last quarter. Capstone Investment Advisors LLC acquired a new stake in Zendesk during the second quarter valued at approximately $232,000. AQR Capital Management LLC acquired a new stake in Zendesk during the second quarter valued at approximately $242,000. Finally, ProShare Advisors LLC acquired a new stake in Zendesk during the second quarter valued at approximately $262,000. Institutional investors and hedge funds own 83.66% of the company’s stock.