Why Zendesk Rose 18.4% in February
Shares of customer service software company Zendesk (NYSE: ZEN) rose 18.4% in February, according to data from S&P Global Market Intelligence.
Zendesk, which helps companies easily deal with customer service tickets and customer communications, has also pulled off the remarkable feat of being a technology stock that is actually positive on the year. How did it do it?
For one, Zendesk was beaten-down entering the year, as the company embarked on an acquisition that was highly unpopular with shareholders. But in February, three things happened: The company reported strong earnings, management disclosed it had received its own acquisition offer from a private equity firm, and shareholders rejected the unpopular acquisition.
Source Fool.com
