Zendesk, Inc. (ZEN) Expected to Post Quarterly Sales of $99.50 Million
Wall Street analysts expect Zendesk, Inc. (NYSE:ZEN) to post $99.50 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Zendesk’s earnings. The highest sales estimate is $100.00 million and the lowest is $98.30 million. Zendesk posted sales of $74.20 million during the same quarter last year, which suggests a positive year over year growth rate of 34.1%. The company is expected to announce its next quarterly earnings results after the market closes on Thursday, August 3rd.
According to Zacks, analysts expect that Zendesk will report full year sales of $99.50 million for the current financial year, with estimates ranging from $418.40 million to $424.20 million. For the next financial year, analysts forecast that the firm will report sales of $546.68 million per share, with estimates ranging from $530.30 million to $581.10 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow Zendesk.
Zendesk (NYSE:ZEN) last announced its earnings results on Thursday, May 4th. The software maker reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The firm had revenue of $93.01 million for the quarter, compared to the consensus estimate of $92.46 million. Zendesk had a negative return on equity of 31.90% and a negative net margin of 30.79%. The business’s quarterly revenue was up 35.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.08) EPS.
A number of equities research analysts recently commented on the stock. Guggenheim assumed coverage on shares of Zendesk in a research report on Wednesday, April 12th. They set a “buy” rating for the company. They noted that the move was a valuation call. UBS AG reaffirmed a “buy” rating and issued a $38.00 price target (up previously from $36.00) on shares of Zendesk in a report on Friday, May 5th. Zacks Investment Research raised shares of Zendesk from a “sell” rating to a “hold” rating in a report on Thursday, June 8th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Zendesk in a report on Friday. Finally, William Blair reaffirmed an “outperform” rating on shares of Zendesk in a report on Monday, April 3rd. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $33.00.
In other news, SVP John Geschke sold 8,334 shares of the firm’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $30.06, for a total value of $250,520.04. Following the transaction, the senior vice president now directly owns 16,380 shares of the company’s stock, valued at $492,382.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Adrian Mcdermott sold 2,870 shares of the firm’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $24.98, for a total transaction of $71,692.60. Following the completion of the transaction, the insider now directly owns 80,000 shares in the company, valued at $1,998,400. The disclosure for this sale can be found here. In the last quarter, insiders sold 145,475 shares of company stock worth $3,963,405. Company insiders own 5.30% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. FMR LLC increased its position in Zendesk by 1.8% in the first quarter. FMR LLC now owns 14,551,169 shares of the software maker’s stock valued at $408,015,000 after buying an additional 250,358 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Zendesk by 4.7% in the first quarter. Vanguard Group Inc. now owns 6,643,897 shares of the software maker’s stock worth $186,295,000 after buying an additional 296,945 shares during the period. BlackRock Inc. increased its position in shares of Zendesk by 81,570.3% in the first quarter. BlackRock Inc. now owns 5,702,221 shares of the software maker’s stock worth $159,888,000 after buying an additional 5,695,239 shares during the period. Jericho Capital Asset Management L.P. increased its position in shares of Zendesk by 36.6% in the first quarter. Jericho Capital Asset Management L.P. now owns 2,459,840 shares of the software maker’s stock worth $68,974,000 after buying an additional 659,466 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of Zendesk by 29.0% in the first quarter. Wellington Management Group LLP now owns 2,400,304 shares of the software maker’s stock worth $67,304,000 after buying an additional 539,513 shares during the period. 91.85% of the stock is currently owned by hedge funds and other institutional investors.
Zendesk (NYSE:ZEN) opened at 29.16 on Friday. The firm’s 50-day moving average price is $27.72 and its 200 day moving average price is $26.80. Zendesk has a one year low of $19.77 and a one year high of $31.88. The firm’s market capitalization is $2.89 billion.
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Zendesk, Inc (Zendesk) is a software development company. The Zendesk family of products is built to work together to help organizations understand and manage customer relationships. All Zendesk products share a common interface and are being developed to support a shared services infrastructure and common customer data platform.
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