Wall Street brokerages expect Zendesk Inc (NYSE:ZEN) to announce sales of $126.45 million for the current quarter, according to Zacks. Four analysts have made estimates for Zendesk’s earnings. The highest sales estimate is $127.00 million and the lowest is $126.00 million. Zendesk reported sales of $93.01 million during the same quarter last year, which would suggest a positive year over year growth rate of 36%. The business is scheduled to announce its next quarterly earnings results on Thursday, May 3rd.
On average, analysts expect that Zendesk will report full year sales of $126.45 million for the current fiscal year, with estimates ranging from $560.00 million to $566.26 million. For the next financial year, analysts expect that the firm will post sales of $726.29 million per share, with estimates ranging from $709.00 million to $758.90 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Zendesk.
Zendesk (NYSE:ZEN) last issued its quarterly earnings results on Tuesday, February 6th. The software maker reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. Zendesk had a negative net margin of 25.70% and a negative return on equity of 32.48%. The company had revenue of $123.43 million for the quarter, compared to the consensus estimate of $119.68 million. During the same quarter in the prior year, the company earned ($0.04) EPS. Zendesk’s quarterly revenue was up 39.3% on a year-over-year basis.
Several brokerages recently weighed in on ZEN. KeyCorp reiterated an “overweight” rating and issued a $53.00 price target (up previously from $43.00) on shares of Zendesk in a report on Tuesday, March 13th. Piper Jaffray Companies raised their price objective on shares of Zendesk to $60.00 and gave the stock an “overweight” rating in a research note on Monday, March 12th. Morgan Stanley raised their price objective on shares of Zendesk from $41.00 to $48.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Bank of America raised their price objective on shares of Zendesk from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $45.00 price objective (up previously from $37.00) on shares of Zendesk in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $42.33.
Shares of Zendesk stock traded down $1.42 during trading hours on Friday, reaching $46.70. 1,319,501 shares of the company traded hands, compared to its average volume of 1,180,142. Zendesk has a one year low of $24.49 and a one year high of $49.42. The firm has a market cap of $5,054.32, a P/E ratio of -42.07 and a beta of 1.64.
In other news, SVP John Geschke sold 3,507 shares of the stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $35.04, for a total transaction of $122,885.28. Following the transaction, the senior vice president now owns 12,582 shares in the company, valued at approximately $440,873.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Elizabeth A. Nelson sold 20,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $39.51, for a total value of $790,200.00. Following the transaction, the director now owns 63,833 shares in the company, valued at approximately $2,522,041.83. The disclosure for this sale can be found here. Insiders have sold a total of 196,230 shares of company stock worth $7,932,904 in the last quarter. Insiders own 5.30% of the company’s stock.
Several large investors have recently made changes to their positions in ZEN. First Trust Advisors LP lifted its position in shares of Zendesk by 7.7% during the 3rd quarter. First Trust Advisors LP now owns 41,061 shares of the software maker’s stock valued at $1,195,000 after buying an additional 2,934 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Zendesk during the 3rd quarter valued at approximately $105,000. Swiss National Bank lifted its position in shares of Zendesk by 2.4% during the 3rd quarter. Swiss National Bank now owns 165,452 shares of the software maker’s stock valued at $4,816,000 after buying an additional 3,800 shares in the last quarter. Sei Investments Co. lifted its position in shares of Zendesk by 86.5% during the 3rd quarter. Sei Investments Co. now owns 28,544 shares of the software maker’s stock valued at $831,000 after buying an additional 13,242 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in shares of Zendesk by 9.1% during the 3rd quarter. New York State Common Retirement Fund now owns 113,308 shares of the software maker’s stock valued at $3,298,000 after buying an additional 9,408 shares in the last quarter. Hedge funds and other institutional investors own 93.22% of the company’s stock.
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Zendesk Company Profile
Zendesk, Inc, a software development company, provides SaaS products for organizations. Its flagship product is Zendesk Support, a system for tracking, prioritizing, and solving customer support tickets across various channels. The company also offers Zendesk Chat, a live chat software to connect with customers on Websites, in applications, and on mobile devices; Zendesk Talk, a cloud-based call center software; Zendesk Guide, a knowledge base that for customer self-service and support agent productivity; Zendesk Message, a customer messaging software; and Zendesk Explore that makes customer data accessible across an organization.
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