MNTV - Zendesk falls as investor day appears to underwhelm

Zendesk (NYSE:ZEN) dropped almost 5% as the company's investor day appeared to underwhelm. Zendesk's analysts/investors were disappointed when the company recently announced the purchase of SurveyMonkey parent Momentive Global (NASDAQ:MNTV) and investors were hoping the company would better explain the purchase at its investor event. The Momentive acquisition led to a number of downgrades for ZenDesk after the acquisition was announced. Some Momentive (MNTV) holders were also disappointed with the price of the acquisition and holder Legion Partners is reportedly opposed to the deal. Zendesk shares have dropped 18% since the deal was announced in late October. Credit Suisse said in a note before the investor day presentation started that the analyst day guidance pointed to a better organic growth, but "significantly" lower margin outlook. "We continue to believe that Zendesk’s standalone positioning is favorable, but we expect an overhang to remain on the stock until the proposed acquisition of Momentive reaches

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Zendesk falls as investor day appears to underwhelm