Is It Too Late to Buy Zendesk Stock?

The stock of Zendesk (NYSE: ZEN) plunged 14% on June 9 after the company said it would remain independent following a strategic review. The cloud-based customer relationship management (CRM) company had been mulling a sale, but said the process ultimately "did not yield any actionable options" amid "adverse market conditions and financing difficulties" for its final bidders.

In a statement, CEO Mikkel Svane said its board "unanimously determined that the right path to sustainably grow stockholder value lies in advancing Zendesk as an independent business."

That statement indicates Zendesk's investors shouldn't count on a buyout to generate fresh interest in its stock, which has declined more than 50% from its all-time high last February. So is it too late to invest in this company, which was once considered a resilient underdog in the CRM market?

Source Fool.com