Zendesk Dips Toe Into Customer Relationship Market With Acquisition [Investor's Business Daily]
Zendesk, Inc. (ZEN)
Last zendesk, inc. earnings: 4/30 04:16 pm
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Source: Investors Business Daily
Related news Zendesk ( ZEN ), in what is believed to be its biggest acquisition to date, is venturing into the market for customer relationship management software by its acquisition of CRM specialist FutureSimple. Terms of the deal were not disclosed. Zendesk told analysts it will not be targeting HubSpot ( HUBS ) with the FutureSimple deal. Piper Jaffray analyst Alex Zukin added that the company, for now, also will not be competing directly with Salesforce.com ( CRM ). The reason is Salesforce.com serves larger customers. Zukin said that Zendesk could move "up market" at some point and target bigger companies. "We believe that while below the 'materiality' threshold this could be Zendesk's largest acquisition to date, and most strategic given that it is expected to thrust Zendesk directly into the CRM space," Zukin said in a note to clients. Stifel on Tuesday raised its price target on Zendesk to 68 from 60. The stock has shot up 139% from a year ago. Shares climbed 1.8% to 71.19 o
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