Zendesk Inc (NYSE:ZEN)’s stock price dropped 9.3% during trading on Friday after Royal Bank of Canada lowered their price target on the stock from $120.00 to $110.00. Royal Bank of Canada currently has an outperform rating on the stock. Zendesk traded as low as $89.10 and last traded at $91.15, approximately 6,422,918 shares traded hands during mid-day trading. An increase of 204% from the average daily volume of 2,113,833 shares. The stock had previously closed at $100.52.
A number of other research firms have also recently issued reports on ZEN. Zacks Investment Research cut shares of Zendesk from a “buy” rating to a “hold” rating in a research report on Friday, July 24th. Canaccord Genuity boosted their price objective on shares of Zendesk from $85.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Oppenheimer boosted their price objective on shares of Zendesk from $80.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. Stifel Nicolaus decreased their price objective on shares of Zendesk from $85.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, May 1st. Finally, Goldman Sachs Group boosted their price objective on shares of Zendesk from $96.00 to $113.00 in a research report on Monday, June 29th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Zendesk currently has an average rating of “Buy” and a consensus price target of $99.75.
In other news, CEO Mikkel Svane sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $73.61, for a total value of $3,680,500.00. Following the transaction, the chief executive officer now owns 1,078,223 shares in the company, valued at $79,367,995.03. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Carl Bass sold 9,668 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $77.18, for a total transaction of $746,176.24. Following the completion of the transaction, the director now owns 11,468 shares in the company, valued at approximately $885,100.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 142,594 shares of company stock worth $11,218,424. Insiders own 4.30% of the company’s stock.
The company has a market cap of $10.41 billion, a P/E ratio of -58.06 and a beta of 1.33. The stock’s 50-day moving average is $88.52 and its two-hundred day moving average is $79.73. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.44 and a quick ratio of 1.44.
Zendesk (NYSE:ZEN) last issued its quarterly earnings data on Thursday, July 30th. The software maker reported $0.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.34. The company had revenue of $246.66 million for the quarter, compared to the consensus estimate of $239.82 million. Zendesk had a negative net margin of 19.24% and a negative return on equity of 22.07%. On average, analysts predict that Zendesk Inc will post -0.76 EPS for the current year.
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.
See Also: Limitations of the P/E Growth ratio
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.