Zendesk Higher as Piper Sandler Sees Recovery or M&A By Investing.com

  • 8 months ago
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© Reuters.

By Christiana Sciaudone

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

“Unappreciated levers” could improve demand into next year, analyst 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:), Adobe (NASDAQ:), ServiceNow (NYSE:), or SAP. 

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

 

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