Wells Fargo says Zendesk is undervalued

|About: Zendesk, Inc. (ZEN)|By:, SA News Editor

Wells Fargo sees a path to "sustainable, profitable +30% growth" for Zendesk (NYSE:ZEN).

The firm thinks ZEN can "expand operating margins into the mid-to-high teens over the next five years," and that possibility isn't reflected in the current valuation.

Wells maintains an Outperform rating and $115 PT.

ZEN shares are down 1.2% to $87.93.

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