Morgan Stanley Maintains Zendesk Inc to Overweight with Price Target $33.00

Brokerage firm Morgan Stanley Maintains its rating on Zendesk Inc(NYSE:ZEN). In a research note issued to the investors, the brokerage major Raises the price-target to $33.00 per share. The shares have been rated Overweight. The rating by Morgan Stanley was issued on Jul 14, 2016.

In a different note, Piper Jaffray said it Initiates Coverage on Zendesk Inc, according to a research note issued on Jun 1, 2016. The shares have been rated ‘Overweight’ by the firm. On May 4, 2016, Morgan Stanley said it Maintains its rating on Zendesk Inc. In the research note, the firm Raises the price-target to $24.00 per share. The shares have been rated ‘Overweight’ by the firm. On Apr 19, 2016, Goldman Sachs said it Maintains its rating on Zendesk Inc. In the research note, the firm Raises the price-target to $23.00 per share. The shares have been rated ‘Buy’ by the firm.

Zendesk Inc (ZEN) shares turned negative on Mondays trading session with the shares closing down -0.02 points or -0.07% at a volume of 5,00,857. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $29.12. The peak price level was also seen at $29.12 while the days lowest was $28.71. Finally the shares closed at $28.76. The 52-week high of the shares is $29.76 while the 52-week low is $14.385. According to the latest information available, the market cap of the company is $2,639 M.

Zendesk Inc(ZEN) last announced its earnings results on May 3, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $68.46M. Analysts had an estimated revenue of $66.12M. Earnings per share were $-0.08. Analysts had estimated an EPS of $-0.10.

Several Insider Transactions has been reported to the SEC. On Jul 12, 2016, Adrian Mcdermott (SVP of Product Development) sold 68,470 shares at $28.07 per share price.Also, On May 26, 2016, Dana Stalder (director) sold 20,000 shares at $24.48 per share price.On May 20, 2016, John Geschke (GC, SVP Admin and Secretary) sold 5,000 shares at $23.59 per share price, according to the Form-4 filing with the securities and exchange commission.

Zendesk Inc. (Zendesk) is a software development company. The Company provides software as a service (SaaS) customer service platform. The Company answers customers’ questions and solves their problems through email chat voice social media and Websites. Its platform also helps people find answers on their own through knowledge bases and communities. The Company’s platform consolidates the data from customer interactions and provides organizations with analytics and performance benchmarking. The Company through its subsidiary Zopim provides live chat software as a standalone service and as an integrated service with its customer service platform for chat-enabled agents. The Company also offers freemium plans for its customer service platform and live chat software as well as email collaboration software. Its customers are located in 150 countries and territories and provide service through its customer service platform in over 40 languages.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *