Zendesk stock rallies on reports that suitors being courted for possible sale

Zendesk Inc. shares rallied Tuesday as the enterprise-software company headed back into the M&A spotlight following reports it has hired an advisor to explore a potential sale.

Zendesk
ZEN,
+6.66%
shares surged nearly 8% in Tuesday trading, and are up nearly 25% year-to-date, while the stock’s price is 12% off its price from 12 months ago. In comparison, the S&P 500 index
SPX,
+1.24%
was up 1.3%, is off nearly 7% year to date, but up 7% from 12 months ago.