KeyCorp Equities Analysts Reduce Earnings Estimates for Zendesk Inc (ZEN)

Zendesk Inc (NYSE:ZEN) – Analysts at KeyCorp lowered their FY2018 earnings per share (EPS) estimates for shares of Zendesk in a note issued to investors on Monday, March 12th, Zacks Investment Research reports. KeyCorp analyst B. Bracelin now expects that the software maker will post earnings of ($1.04) per share for the year, down from their prior estimate of ($1.03). KeyCorp has a “Overweight” rating and a $53.00 price objective on the stock.

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Zendesk (NYSE:ZEN) last announced its quarterly earnings data on Tuesday, February 6th. The software maker reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.03. Zendesk had a negative return on equity of 32.48% and a negative net margin of 25.70%. The firm had revenue of $123.43 million during the quarter, compared to analysts’ expectations of $119.68 million. During the same period last year, the business posted ($0.04) earnings per share. The company’s revenue for the quarter was up 39.3% compared to the same quarter last year.

Other research analysts have also recently issued reports about the company. Piper Jaffray restated a “buy” rating and issued a $46.00 price objective on shares of Zendesk in a research note on Wednesday, February 7th. Guggenheim reiterated a “buy” rating and set a $44.00 price target on shares of Zendesk in a research report on Wednesday, February 7th. Bank of America lifted their price target on Zendesk from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Craig Hallum reiterated a “buy” rating and set a $45.00 price target (up from $37.00) on shares of Zendesk in a research report on Wednesday, February 7th. Finally, Zacks Investment Research upgraded Zendesk from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research report on Sunday, January 21st. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $42.33.

Shares of NYSE:ZEN traded down $1.26 during trading on Thursday, hitting $45.09. The stock had a trading volume of 1,038,606 shares, compared to its average volume of 1,663,916. Zendesk has a 12-month low of $24.49 and a 12-month high of $50.15. The stock has a market cap of $4,661.45, a price-to-earnings ratio of -43.78 and a beta of 1.51.

In other Zendesk news, SVP John Geschke sold 1,493 shares of the firm’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $35.17, for a total value of $52,508.81. Following the sale, the senior vice president now directly owns 13,288 shares of the company’s stock, valued at $467,338.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Adrian Mcdermott sold 1,425 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $43.00, for a total value of $61,275.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 196,936 shares of company stock worth $8,032,434. 5.30% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of ZEN. First Trust Advisors LP grew its holdings in Zendesk by 7.7% in the third quarter. First Trust Advisors LP now owns 41,061 shares of the software maker’s stock valued at $1,195,000 after purchasing an additional 2,934 shares during the period. Canada Pension Plan Investment Board acquired a new stake in Zendesk in the third quarter valued at approximately $105,000. Swiss National Bank grew its holdings in Zendesk by 2.4% in the third quarter. Swiss National Bank now owns 165,452 shares of the software maker’s stock valued at $4,816,000 after purchasing an additional 3,800 shares during the period. Sei Investments Co. boosted its stake in shares of Zendesk by 86.5% in the third quarter. Sei Investments Co. now owns 28,544 shares of the software maker’s stock worth $831,000 after acquiring an additional 13,242 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of Zendesk by 9.1% in the third quarter. New York State Common Retirement Fund now owns 113,308 shares of the software maker’s stock worth $3,298,000 after acquiring an additional 9,408 shares during the last quarter. 93.22% of the stock is currently owned by institutional investors.

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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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