By Christiana Sciaudone
Investing.com -- Zendesk (NYSE:ZEN) rose almost 6% to an all-time high after an upgrade by Piper Sandler (NYSE:PIPR).
"Unappreciated levers" could improve demand into next year, analyst Brent Bracelin wrote, according to Seeking Alpha. He bumped shares to overweight from neutral, and the price target to $123 from $87, citing international execution and business stabilization. Shares of the customer service software maker are up 33% this year, to $102.18.
Investors "could benefit from either a demand recovery or strategic M&A," Bracelin said. Zendesk could complement the cloud portfolios of Microsoft (NASDAQ:MSFT), Adobe (NASDAQ:ADBE), ServiceNow (NYSE:NOW), or SAP.
Shares have 11 buy ratings, four holds and no sells.