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Zendesk (NYSE: ZEN) shares advance after Goldman’s upgrade to Buy

  • Goldman pivots back to Buy, $105 price target reps 24% upside
  • Analyst day in May impressed attendees
  • Shares up 2.1% to $86.50

Zendesk (NYSE: ZEN) shares were rising on Friday after Goldman Sachs came off the fence to deliver a bullish Buy rating and $105 price target.

The customer service software company closed a deal to acquire CRM platform Smooch in May and held a successful analyst day, which increased confidence among interested commentators that growth drivers are in place for both the short and long term.

Goldman’s new rating mirrors the Buy Sell Side rating average. Shares climbed to $86.50 just before the first bell.