Zendesk Inc (NYSE:ZEN) Reports Decline in Sellers; Strong Momentum for Longs

March 16, 2018 - By Nellie Frank

 Zendesk Inc (NYSE:ZEN) Reports Decline in Sellers; Strong Momentum for Longs

The stock of Zendesk Inc (NYSE:ZEN) registered a decrease of 10.35% in short interest. ZEN’s total short interest was 3.33M shares in March as published by FINRA. Its down 10.35% from 3.71 million shares, reported previously. With 846,800 shares average volume, it will take short sellers 4 days to cover their ZEN’s short positions. The short interest to Zendesk Inc’s float is 3.42%.

The stock decreased 1.43% or $0.68 during the last trading session, reaching $46.92. About 2.05M shares traded or 103.78% up from the average. Zendesk, Inc. (NYSE:ZEN) has risen 6.73% since March 16, 2017 and is uptrending. It has underperformed by 9.97% the S&P500.

Zendesk, Inc., a software development company, provides software-as-a-service products for organizations. The company has market cap of $4.85 billion. The Company’s flagship product includes Zendesk Support, a system for tracking, prioritizing, and solving customer support tickets across various channels. It currently has negative earnings. The firm also offers Zendesk Chat, a live chat software to connect with clients on Websites, in applications, and on mobile devices; Zendesk Talk, a cloud call center software; Zendesk Help Center, a self-service destination with articles, interactive forums, and community; Zendesk Message, a customer messaging software; Zendesk Explore that makes customer data accessible across an organization; and Zendesk Connect, a customer intelligence software.

Zendesk, Inc. (NYSE:ZEN) Ratings Coverage

Among 21 analysts covering Zendesk (NYSE:ZEN), 18 have Buy rating, 0 Sell and 3 Hold. Therefore 86% are positive. Zendesk has $53 highest and $25.0 lowest target. $37.90’s average target is -19.22% below currents $46.92 stock price. Zendesk had 57 analyst reports since August 5, 2015 according to SRatingsIntel. As per Wednesday, April 19, the company rating was maintained by Guggenheim. As per Thursday, November 2, the company rating was maintained by RBC Capital Markets. The firm has “Buy” rating by Guggenheim given on Wednesday, February 7. Canaccord Genuity maintained the shares of ZEN in report on Tuesday, August 8 with “Buy” rating. The rating was maintained by RBC Capital Markets on Sunday, September 3 with “Buy”. RBC Capital Markets initiated Zendesk, Inc. (NYSE:ZEN) on Friday, September 11 with “Outperform” rating. Stifel Nicolaus maintained Zendesk, Inc. (NYSE:ZEN) on Friday, July 21 with “Hold” rating. Goldman Sachs maintained Zendesk, Inc. (NYSE:ZEN) on Tuesday, April 19 with “Buy” rating. The stock of Zendesk, Inc. (NYSE:ZEN) earned “Buy” rating by Guggenheim on Wednesday, January 10. The firm has “Outperform” rating given on Wednesday, January 11 by Wells Fargo.

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