Piper Jaffray Companies restated their buy rating on shares of Zendesk (NYSE:ZEN) in a report published on Wednesday morning. The firm currently has a $46.00 target price on the software maker’s stock.

Several other research analysts have also recently issued reports on ZEN. Guggenheim reiterated a buy rating and set a $44.00 target price on shares of Zendesk in a report on Wednesday. KeyCorp increased their target price on shares of Zendesk from $42.00 to $43.00 and gave the stock an overweight rating in a report on Wednesday. Cowen increased their target price on shares of Zendesk from $39.00 to $46.00 and gave the stock an outperform rating in a report on Wednesday. Craig Hallum reiterated a buy rating and set a $45.00 target price (up from $37.00) on shares of Zendesk in a report on Wednesday. Finally, Bank of America increased their target price on shares of Zendesk from $38.00 to $45.00 and gave the stock a buy rating in a report on Wednesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $40.31.

Zendesk (ZEN) opened at $39.10 on Wednesday. Zendesk has a 1-year low of $24.49 and a 1-year high of $42.35. The stock has a market cap of $3,908.02, a PE ratio of -35.23 and a beta of 1.87.

Zendesk (NYSE:ZEN) last issued its earnings results on Tuesday, February 6th. The software maker reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. Zendesk had a negative net margin of 25.70% and a negative return on equity of 32.88%. The company had revenue of $123.43 million for the quarter, compared to analysts’ expectations of $119.68 million. During the same period in the prior year, the business earned ($0.04) EPS. The firm’s quarterly revenue was up 39.3% on a year-over-year basis. equities analysts expect that Zendesk will post -1.1 EPS for the current year.

In other Zendesk news, SVP John Geschke sold 9,727 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $35.09, for a total transaction of $341,320.43. Following the completion of the sale, the senior vice president now directly owns 16,195 shares of the company’s stock, valued at $568,282.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Mikkel Svane sold 50,000 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $34.31, for a total transaction of $1,715,500.00. Following the sale, the chairman now directly owns 1,734,891 shares of the company’s stock, valued at $59,524,110.21. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,426 shares of company stock valued at $3,543,308. Insiders own 5.30% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Zendesk by 10.9% in the 2nd quarter. Vanguard Group Inc. now owns 7,365,549 shares of the software maker’s stock valued at $204,615,000 after purchasing an additional 721,652 shares during the last quarter. Wasatch Advisors Inc. raised its position in shares of Zendesk by 26.5% in the 2nd quarter. Wasatch Advisors Inc. now owns 3,919,479 shares of the software maker’s stock valued at $108,883,000 after purchasing an additional 820,465 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Zendesk by 14.0% in the 4th quarter. Wells Fargo & Company MN now owns 2,105,554 shares of the software maker’s stock valued at $71,251,000 after purchasing an additional 258,469 shares during the last quarter. State Street Corp raised its position in shares of Zendesk by 22.6% in the 2nd quarter. State Street Corp now owns 1,813,976 shares of the software maker’s stock valued at $50,395,000 after purchasing an additional 334,769 shares during the last quarter. Finally, Calamos Advisors LLC raised its position in shares of Zendesk by 8.8% in the 3rd quarter. Calamos Advisors LLC now owns 1,645,329 shares of the software maker’s stock valued at $47,896,000 after purchasing an additional 133,346 shares during the last quarter. 93.94% of the stock is owned by hedge funds and other institutional investors.

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About Zendesk

Zendesk, Inc (Zendesk) is a software development company. The Zendesk family of products is built to work together to help organizations understand and manage customer relationships. All Zendesk products share a common interface and are being developed to support a shared services infrastructure and common customer data platform.

Analyst Recommendations for Zendesk (NYSE:ZEN)

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