Zendesk (ZEN) Receives a Rating Update from a Top Analyst

In a report released today, Derrick Wood from Cowen & Co. reiterated a Buy rating on Zendesk (ZEN), with a price target of $105.00. The company’s shares closed last Monday at $87.19.

According to TipRanks.com, Wood is a top 100 analyst with an average return of 25.4% and a 75.3% success rate. Wood covers the Technology sector, focusing on stocks such as Salesforce, ServiceNow, and Atlassian.

Currently, the analyst consensus on Zendesk is a Strong Buy with an average price target of $99.89, which is a 16.9% upside from current levels. In a report issued on January 24, Wedbush also maintained a Buy rating on the stock with a $93.00 price target.

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Based on Zendesk’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $36.17 million. In comparison, last year the company had a GAAP net loss of $33.25 million.

Based on the recent corporate insider activity of 233 insiders, corporate insider sentiment is neutral on the stock. Most recently, in December 2019, Mikkel Svane, the Chair and CEO of ZEN bought 48,500 shares for a total of $461,720.

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.

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