Cowen Starts Zendesk (ZEN) at Outperform

Cowen initiates coverage on Zendesk (NYSE: ZEN) with a Outperform rating and a price target of $30.00.

Analyst J. Derrick Wood commented, "Our proprietary IT Survey showed highly favorable data on '17 budget priority for ZEN's end-market - Customer Service. Along with its new sales leadership focused on moving up-market, ZEN is positioned for a rebound in growth execution. And given the scarcity of next-gen pure-plays in the space, we think there is M&A optionality. The recent stock pullback creates an attractive buying opportunity."

For an analyst ratings summary and ratings history on Zendesk click here. For more ratings news on Zendesk click here.

Shares of Zendesk closed at $22.93 yesterday.

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