Zendesk Higher as Piper Sandler Sees Recovery or M&A

  • Investing.com
  • Stock Market News
Zendesk Higher as Piper Sandler Sees Recovery or M&A
Credit: © Reuters.

By Christiana Sciaudone

Investing.com --  Zendesk (NYSE: ZEN ) rose almost 6% to an all-time high after an upgrade by Piper Sandler (NYSE: PIPR ). 

"Unappreciated levers" could improve demand into next year, analyst Brent Bracelin wrote, according to Seeking Alpha. He bumped shares to overweight from neutral, and the price target to $123 from $87, citing international execution and business stabilization. Shares of the customer service software maker are up 33% this year, to $102.18.

Investors "could benefit from either a demand recovery or strategic M&A," Bracelin said. Zendesk could complement the cloud portfolios of Microsoft (NASDAQ: MSFT ), Adobe (NASDAQ: ADBE ), ServiceNow (NYSE: NOW ), or SAP. 

Shares have 11 buy ratings, four holds and no sells.

 

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100

Related Articles