The firm said it started the company out with this rating due to its "positive opinion of Zendesk's long term corporate strategy, the company's unique technology platform that should position Zendesk to continue to gain market share, and management's ability to execute its vision."
Credit Suisse also said it views the stock's near-term risk/reward "trade-off as fairly balanced."
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Shares of Zendesk are down -2.79% to $14.96 this morning.
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