Zendesk set for a third straight session of decline

Momentive Global

19/11/2021 12:21

** Software services co Zendesk Inc  ZEN.N  down 1.8% at $96
in premarket trading - set for a third straight session of
decline
    ** Cowen and Co lowers rating to "market perform" from
"outperform"; cuts PT to $115 from $140
    ** Brokerage sees co's acquisition of Momentive Global Inc
 MNTV.O  "being an overhang on shares for some time"
    ** In October, ZEN said it would buy MNTV, owner of the
popular SurveyMonkey platform, for nearly $4 bln  urn:newsml:reuters.com:*:nL4N2RO5WH
    ** Separately, Jefferies and Credit Suisse also cut PT to
$110 from $120 and $115 respectively
    ** "We believe most investors favor growth over short-term
margin expansion, but some were disappointed since growth is
forecasted to decelerate in 2022" - Jefferies
    ** Avg. rating of 21 analysts is "buy"; median PT is $147.50
- Refinitiv data 
    ** As of last close, stock had fallen ~32% this year


    

 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))