Zendesk (NYSE:ZEN) Shares Gap Down to $83.56

Shares of Zendesk Inc (NYSE:ZEN) gapped down prior to trading on Thursday . The stock had previously closed at $80.42, but opened at $83.56. Zendesk shares last traded at $85.04, with a volume of 2,543,520 shares changing hands.

Several analysts have recently commented on the stock. UBS Group set a $98.00 target price on shares of Zendesk and gave the company a “hold” rating in a report on Wednesday. Jefferies Financial Group increased their target price on shares of Zendesk from $102.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday. Craig Hallum reiterated a “buy” rating and issued a $110.00 target price (up previously from $84.00) on shares of Zendesk in a report on Wednesday, May 1st. Canaccord Genuity increased their target price on shares of Zendesk from $100.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Bank of America restated a “buy” rating and set a $105.00 price target (up previously from $100.00) on shares of Zendesk in a research report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Zendesk presently has a consensus rating of “Buy” and a consensus target price of $95.79.

The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 1.34. The firm has a market cap of $9.16 billion, a PE ratio of -84.42 and a beta of 1.51. The business has a 50-day moving average price of $90.69.

Zendesk (NYSE:ZEN) last issued its earnings results on Tuesday, July 30th. The software maker reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.33. The firm had revenue of $194.58 million during the quarter, compared to analyst estimates of $192.47 million. Zendesk had a negative net margin of 23.70% and a negative return on equity of 27.67%. The company’s quarterly revenue was up 37.1% on a year-over-year basis. During the same quarter last year, the business earned $0.03 earnings per share. On average, equities analysts predict that Zendesk Inc will post -1.07 EPS for the current year.

In other Zendesk news, insider Adrian Mcdermott sold 5,226 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $83.14, for a total transaction of $434,489.64. Following the completion of the transaction, the insider now owns 86,690 shares in the company, valued at $7,207,406.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John Geschke sold 2,500 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $87.60, for a total transaction of $219,000.00. The disclosure for this sale can be found here. Insiders have sold 120,561 shares of company stock valued at $10,532,884 in the last quarter. Company insiders own 4.60% of the company’s stock.

Large investors have recently modified their holdings of the business. Capital Investment Advisory Services LLC bought a new position in Zendesk during the first quarter worth about $34,000. Sageworth Trust Co purchased a new stake in shares of Zendesk in the first quarter worth about $42,000. CWM LLC lifted its holdings in shares of Zendesk by 90.0% in the first quarter. CWM LLC now owns 532 shares of the software maker’s stock worth $45,000 after buying an additional 252 shares in the last quarter. Sonora Investment Management LLC purchased a new stake in shares of Zendesk in the first quarter worth about $51,000. Finally, Advisory Services Network LLC purchased a new stake in shares of Zendesk in the second quarter worth about $80,000. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Zendesk Company Profile (NYSE:ZEN)

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.

Further Reading: What does relative strength index mean?

Receive News & Ratings for Zendesk Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zendesk and related companies with MarketBeat.com's FREE daily email newsletter.