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Guggenheim Keeps Their Buy Rating on Zendesk (ZEN)

In a report released today, Kenneth Wong from Guggenheim maintained a Buy rating on Zendesk (ZENResearch Report), with a price target of $145.00. The company’s shares closed last Thursday at $114.18.

According to TipRanks.com, Wong is a 4-star analyst with an average return of 14.7% and a 56.1% success rate. Wong covers the Technology sector, focusing on stocks such as Weave Communications, Progress Software, and Veeva Systems.

Currently, the analyst consensus on Zendesk is a Moderate Buy with an average price target of $130.22, a 28.4% upside from current levels. In a report released today, JMP Securities also maintained a Buy rating on the stock with a $193.00 price target.

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Based on Zendesk’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $347 million and GAAP net loss of $54.42 million. In comparison, last year the company earned revenue of $262 million and had a GAAP net loss of $40.7 million.

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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. Its also features ticketing system; community forums; help desk software; IT help desk; security; and tech specs. The company was founded by Mikkel Asger Svane, Morten Primdahl and Alexander Aghassipour in 2007 and is headquartered in San Francisco, CA.

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