In a report released yesterday, Brent Bracelin from KeyBanc reiterated a Buy rating on Zendesk (ZEN), with a price target of $102. The company’s shares closed yesterday at $87.78, close to its 52-week high of $87.92.
Bracelin said:
“We are raising our estimates factoring in a healthy start to 2019, an expanding enterprise footprint (40% of MRR), and robust Suite adoption metrics. We are also raising our price target to $102 from $92 on higher estimates using a DCF applying 32x CY23 EV/FCF, discounted back 15%.”
According to TipRanks.com, Bracelin is a top 25 analyst with an average return of 29.8% and a 78.8% success rate. Bracelin covers the Technology sector, focusing on stocks such as Tyler Technologies, Coupa Software Inc, and Salesforce.com.
Currently, the analyst consensus on Zendesk is a Strong Buy with an average price target of $89.07, representing a 1.5% upside. In a report issued on April 22, Merrill Lynch also maintained a Buy rating on the stock with a $100 price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $87.92 and a one-year low of $45.60. Currently, Zendesk has an average volume of 1.9M.
Based on the recent corporate insider activity of 170 insiders, corporate insider sentiment is negative on the stock. Last month, Mikkel Svane, the Chair and CEO of ZEN bought 100 shares for a total of $952.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Zendesk, Inc. engages in the provision of customer service platform which enables companies to provide customer support. Its products and services include support; guide; chat; talk; message; inbox team email; explore; connect plus outbound; integrations and apps; embeddables; insights and analytics; and products update.
