Wall Street brokerages expect Zendesk (NYSE:ZEN) to announce $126.45 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Zendesk’s earnings, with the highest sales estimate coming in at $127.00 million and the lowest estimate coming in at $126.00 million. Zendesk posted sales of $93.01 million in the same quarter last year, which suggests a positive year over year growth rate of 36%. The firm is expected to report its next quarterly earnings report after the market closes on Tuesday, May 1st.
On average, analysts expect that Zendesk will report full year sales of $564.94 million for the current financial year, with estimates ranging from $560.00 million to $570.50 million. For the next financial year, analysts expect that the business will report 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 analysts that cover Zendesk.
Zendesk (NYSE:ZEN) last announced its quarterly earnings results on Tuesday, February 6th. The software maker reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. The business had revenue of $123.43 million during the quarter, compared to analysts’ expectations of $119.68 million. Zendesk had a negative return on equity of 32.48% and a negative net margin of 25.70%. The business’s revenue for the quarter was up 39.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.04) earnings per share.
Several equities research analysts recently commented on ZEN shares. Piper Jaffray raised their target price on Zendesk to $60.00 and gave the company an “overweight” rating in a report on Monday, March 12th. ValuEngine upgraded Zendesk from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Zacks Investment Research reiterated a “hold” rating on shares of Zendesk in a report on Saturday, January 27th. Stephens upgraded Zendesk from an “underweight” rating to an “equal weight” rating in a report on Wednesday, February 7th. Finally, Morgan Stanley raised their target price on Zendesk from $41.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $42.33.
In other Zendesk news, SVP John Geschke sold 5,000 shares of Zendesk stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $38.71, for a total transaction of $193,550.00. Following the sale, the senior vice president now directly owns 17,193 shares in the company, valued at approximately $665,541.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Adrian Mcdermott sold 50,000 shares of Zendesk stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $39.08, for a total value of $1,954,000.00. Following the completion of the transaction, the insider now owns 1,614,969 shares of the company’s stock, valued at approximately $63,112,988.52. The disclosure for this sale can be found here. Insiders have sold a total of 188,275 shares of company stock worth $7,828,710 over the last 90 days. 4.70% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. AXA grew its stake in Zendesk by 301.0% in the fourth quarter. AXA now owns 388,975 shares of the software maker’s stock valued at $13,163,000 after purchasing an additional 291,975 shares in the last quarter. New York State Common Retirement Fund boosted its stake 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 worth $3,298,000 after acquiring an additional 9,408 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Zendesk by 12.5% during the 3rd quarter. Legal & General Group Plc now owns 40,365 shares of the software maker’s stock worth $1,170,000 after acquiring an additional 4,488 shares in the last quarter. Pier Capital LLC bought a new stake in shares of Zendesk during the 4th quarter worth about $5,465,000. Finally, Hunt Lane Capital LP boosted its stake in shares of Zendesk by 32.2% during the 4th quarter. Hunt Lane Capital LP now owns 900,000 shares of the software maker’s stock worth $30,456,000 after acquiring an additional 219,000 shares in the last quarter. Institutional investors own 93.22% of the company’s stock.
Shares of NYSE:ZEN traded down $2.02 during mid-day trading on Thursday, hitting $48.46. 1,909,739 shares of the company traded hands, compared to its average volume of 1,145,628. The company has a market cap of $5,009.84, a P/E ratio of -47.05 and a beta of 1.51. Zendesk has a 52-week low of $24.49 and a 52-week high of $50.91.
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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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