Canaccord Genuity Believes Zendesk (NYSE: ZEN) Won’t Stop Here

By Jason Carr

Canaccord Genuity analyst David Hynes reiterated a Buy rating on Zendesk (NYSE: ZEN) on November 1 and set a price target of $36. The company’s shares closed yesterday at $33.97, close to its 52-week high of $35.

According to TipRanks.com, Hynes is a 5-star analyst with an average return of 28.3% and a 68.2% success rate. Hynes covers the Technology sector, focusing on stocks such as Nuance Communications, Medidata Solutions, and Ultimate Software.

Currently, the analyst consensus on Zendesk is Moderate Buy and the average price target is $35.22, representing a 3.7% upside.

In a report issued on October 24, KeyBanc also maintained a Buy rating on the stock with a $35 price target.

The company has a one-year high of $35 and a one-year low of $19.77. Currently, Zendesk has an average volume of 890K.

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Zendesk, Inc. offers software-as-a-service, or SaaS, customer service platform which enables companies to provide customer support. It offers customer support, customer self-service help center, customer engagement, strategic analytics, Zendesk Embeddables, subscription plans, analytics software, and subscription plans.