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Guggenheim Sticks to Their Buy Rating for Zendesk (ZEN)

Guggenheim analyst Kenneth Wong maintained a Buy rating on Zendesk (ZENResearch Report) on February 9 and set a price target of $135.00. The company’s shares closed last Friday at $116.27.

According to TipRanks.com, Wong is a 4-star analyst with an average return of 13.8% and a 50.9% success rate. Wong covers the Technology sector, focusing on stocks such as Weave Communications, BigCommerce Holdings, and Progress Software.

Zendesk has an analyst consensus of Moderate Buy, with a price target consensus of $136.00, which is a 15.2% upside from current levels. In a report issued on February 11, 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 December 31, the company reported a quarterly revenue of $375 million and GAAP net loss of $61.86 million. In comparison, last year the company earned revenue of $283 million and had a GAAP net loss of $70.04 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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