KeyBanc Reiterates Their Buy Rating on Zendesk

By Carrie Williams

In a report issued on August 24, Brent Bracelin from KeyBanc reiterated a Buy rating on Zendesk (NYSE: ZEN), with a price target of $35. The company’s shares closed yesterday at $27.14.

According to TipRanks.com, Bracelin is a 5-star analyst with an average return of 10.2% and a 67.8% success rate. Bracelin covers the Technology sector, focusing on stocks such as Cornerstone Ondemand, Riverbed Technology, and Medidata Solutions.

Zendesk has an analyst consensus of Strong Buy, with a price target consensus of $31.83.

Based on Zendesk’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $101 million and GAAP net loss of $29.31 million. In comparison, last year the company earned revenue of $74.2 million and had a GAAP net loss of $26.25 million.

Based on the recent corporate insider activity of 115 insiders, corporate insider sentiment is negative on the stock.

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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.