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

By Austin Angelo

In a report released yesterday, Brent Bracelin from KeyBanc maintained a Buy rating on Zendesk (NYSE: ZEN), with a price target of $53. The company’s shares closed yesterday at $47.78, close to its 52-week high of $47.87.

According to, Bracelin is a top 100 analyst with an average return of 20.0% and a 75.5% success rate. Bracelin covers the Technology sector, focusing on stocks such as Cornerstone Ondemand, Tyler Technologies, and CommVault Systems.

Currently, the analyst consensus on Zendesk is Strong Buy and the average price target is $46.22, representing a -3.3% downside.

In a report released yesterday, Piper Jaffray also maintained a Buy rating on the stock with a $60 price target.

Based on Zendesk’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $123 million and GAAP net loss of $26.65 million. In comparison, last year the company earned revenue of $88.62 million and had a GAAP net loss of $24.55 million.

Based on the recent corporate insider activity of 138 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Aian Mcdermott, the President of Products of ZEN sold 40,000 shares for a total of $1,741,200.

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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.