Fly News Breaks for May 23, 2019
May 23, 2019 | 07:33 EDT
Wedbush analyst Steve Koenig raised his price target for Zendesk to $103 from $95, saying the incremental news from its analyst day was "the addition of Smooch, which looks like a necessary and promising move" as the mix of digital support interactions shifts from chat to messaging. Also, the company's reiteration of its growth/margin framework suggests ample 2020 upside on revenue, operating margin, or both, he contends. The analyst expects Zendesk to maintain its revenue momentum around the high-30% year over year level in 2019. He reiterates an Outperform rating on the shares.
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