Wall Street brokerages forecast that Zendesk Inc (NYSE:ZEN) will announce sales of $207.31 million for the current fiscal quarter, Zacks reports. Nine analysts have provided estimates for Zendesk’s earnings. The highest sales estimate is $209.20 million and the lowest is $206.40 million. Zendesk reported sales of $154.83 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 33.9%. The business is expected to issue its next quarterly earnings report on Tuesday, October 29th.
On average, analysts expect that Zendesk will report full year sales of $810.31 million for the current fiscal year, with estimates ranging from $807.20 million to $813.50 million. For the next year, analysts expect that the company will report sales of $1.06 billion, with estimates ranging from $1.05 billion to $1.07 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Zendesk.
Zendesk (NYSE:ZEN) last posted its earnings results on Tuesday, July 30th. The software maker reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.33. The business had revenue of $194.58 million for the quarter, compared to analyst estimates of $192.47 million. Zendesk had a negative return on equity of 27.44% and a negative net margin of 23.70%. The firm’s revenue was up 37.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.03 EPS.
A number of research analysts have commented on ZEN shares. KeyCorp reaffirmed a “buy” rating and issued a $108.00 price objective (up from $102.00) on shares of Zendesk in a report on Tuesday, July 30th. Jefferies Financial Group upped their price objective on Zendesk from $102.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Goldman Sachs Group started coverage on Zendesk in a report on Friday, June 7th. They issued a “buy” rating and a $105.00 price objective on the stock. Zacks Investment Research raised Zendesk from a “sell” rating to a “hold” rating in a report on Sunday, September 8th. Finally, Stifel Nicolaus set a $92.00 price objective on Zendesk and gave the company a “hold” rating in a report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $98.09.
In other news, CEO Mikkel Svane sold 100,000 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $77.04, for a total transaction of $7,704,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,228,532 shares in the company, valued at approximately $94,646,105.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Adrian Mcdermott sold 3,484 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $78.96, for a total value of $275,096.64. Following the sale, the insider now owns 84,948 shares of the company’s stock, valued at $6,707,494.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 257,380 shares of company stock valued at $20,202,336. Corporate insiders own 4.60% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in shares of Zendesk by 75.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 9,133,023 shares of the software maker’s stock valued at $813,113,000 after buying an additional 3,920,837 shares during the period. Nuveen Asset Management LLC bought a new position in Zendesk in the second quarter worth approximately $67,967,000. CIBC Private Wealth Group LLC bought a new position in Zendesk in the first quarter worth approximately $54,818,000. Neuberger Berman Group LLC lifted its holdings in shares of Zendesk by 982.4% in the first quarter. Neuberger Berman Group LLC now owns 469,810 shares of the software maker’s stock valued at $39,934,000 after purchasing an additional 426,405 shares in the last quarter. Finally, Holocene Advisors LP lifted its holdings in shares of Zendesk by 252.2% in the second quarter. Holocene Advisors LP now owns 441,306 shares of the software maker’s stock valued at $39,289,000 after purchasing an additional 315,993 shares in the last quarter. Hedge funds and other institutional investors own 93.66% of the company’s stock.
Shares of NYSE ZEN opened at $74.23 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.67 and a quick ratio of 0.67. The stock’s fifty day moving average price is $80.66 and its two-hundred day moving average price is $84.47. Zendesk has a one year low of $45.60 and a one year high of $94.89. The firm has a market cap of $8.39 billion, a price-to-earnings ratio of -78.14 and a beta of 1.31.
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, applications, and mobile devices; Zendesk Talk, a cloud-based call center software; Zendesk Guide, a knowledge base that powers customer self-service and support agent productivity; Zendesk Sell, a sales force automation software to enhance productivity, processes, and pipeline visibility for sales teams; Zendesk Connect that manages customer communication across channels; and Zendesk Explore, which provides analytics for businesses to measure and enhance the customer experience.
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