After Jefferies and Piper Jaffray gave Zendesk (NYSE: ZEN) a Buy rating last month, the company received another Buy, this time from KeyBanc. Analyst Brent Bracelin reiterated a Buy rating on Zendesk yesterday and set a price target of $71. The company’s shares closed yesterday at $53.76.
Bracelin noted:
“We would Overweight ZEN considering shares have fallen -22% this month vs. Nasdaq -11%, pressuring the EV/S multiples to 7.4x and 5.6x our 2019 and 2020 estimates.”
According to TipRanks.com, Bracelin is a top 100 analyst with an average return of 18.8% and a 68.3% success rate. Bracelin covers the Technology sector, focusing on stocks such as Salesforce.com, Everbridge Inc, and Ellie Mae Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Zendesk with a $73.14 average price target, representing a 36.0% upside. In a report issued on October 15, Piper Jaffray also reiterated a Buy rating on the stock with a $72.50 price target.
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The company has a one-year high of $72.76 and a one-year low of $29.57. Currently, Zendesk has an average volume of 1.44M.
Based on the recent corporate insider activity of 150 insiders, corporate insider sentiment is negative on the stock.
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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.
