Zacks: Brokerages Anticipate Zendesk Inc (ZEN) Will Post Quarterly Sales of $119.74 Million

Equities analysts expect Zendesk Inc (NYSE:ZEN) to report $119.74 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Zendesk’s earnings. The highest sales estimate is $120.00 million and the lowest is $119.20 million. Zendesk posted sales of $88.62 million in the same quarter last year, which suggests a positive year over year growth rate of 35.1%. The business is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, February 6th.

According to Zacks, analysts expect that Zendesk will report full year sales of $119.74 million for the current fiscal year, with estimates ranging from $422.30 million to $427.07 million. For the next fiscal year, analysts expect that the business will report sales of $553.25 million per share, with estimates ranging from $542.00 million to $570.30 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Zendesk.

Zendesk (NYSE:ZEN) last released its earnings results on Wednesday, November 1st. The software maker reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.04. Zendesk had a negative net margin of 27.43% and a negative return on equity of 32.50%. The business had revenue of $112.79 million during the quarter, compared to analysts’ expectations of $109.19 million. During the same period last year, the business earned ($0.04) earnings per share. The firm’s revenue was up 39.7% on a year-over-year basis.

ZEN has been the subject of several analyst reports. Stephens cut shares of Zendesk from an “equal weight” rating to an “underweight” rating and set a $25.00 target price for the company. in a research note on Monday, October 9th. Morgan Stanley raised their target price on shares of Zendesk from $33.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, October 23rd. Zacks Investment Research raised shares of Zendesk from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Thursday, October 5th. Wells Fargo & Co reissued an “outperform” rating and issued a $40.00 target price (up from $32.00) on shares of Zendesk in a research note on Thursday, November 2nd. Finally, KeyCorp reissued a “buy” rating and issued a $35.00 target price on shares of Zendesk in a research note on Sunday, October 15th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. Zendesk presently has a consensus rating of “Buy” and a consensus price target of $35.71.

In other Zendesk news, insider Adrian Mcdermott sold 1,679 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $34.39, for a total transaction of $57,740.81. Following the completion of the sale, the insider now owns 80,837 shares of the company’s stock, valued at approximately $2,779,984.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Elena Gomez sold 13,155 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $35.00, for a total value of $460,425.00. Following the sale, the chief financial officer now directly owns 16,858 shares of the company’s stock, valued at approximately $590,030. The disclosure for this sale can be found here. Insiders have sold a total of 167,426 shares of company stock valued at $5,836,188 in the last ninety days. Insiders own 5.30% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of ZEN. Advisor Group Inc. lifted its holdings in shares of Zendesk by 44.3% during the second quarter. Advisor Group Inc. now owns 3,701 shares of the software maker’s stock worth $103,000 after buying an additional 1,137 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Zendesk during the third quarter worth $105,000. Cerebellum GP LLC acquired a new stake in shares of Zendesk during the fourth quarter worth $132,000. SG Americas Securities LLC acquired a new stake in shares of Zendesk during the third quarter worth $193,000. Finally, Laurion Capital Management LP acquired a new stake in shares of Zendesk during the second quarter worth $214,000. 94.82% of the stock is owned by institutional investors.

Zendesk (NYSE:ZEN) opened at $38.29 on Wednesday. Zendesk has a 52 week low of $22.88 and a 52 week high of $39.09. The firm has a market cap of $3,890.00, a price-to-earnings ratio of -34.81 and a beta of 1.83.

TRADEMARK VIOLATION WARNING: “Zacks: Brokerages Anticipate Zendesk Inc (ZEN) Will Post Quarterly Sales of $119.74 Million” was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another publication, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2018/01/24/zacks-brokerages-anticipate-zendesk-inc-zen-will-post-quarterly-sales-of-119-74-million.html.

Zendesk Company Profile

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.

Get a free copy of the Zacks research report on Zendesk (ZEN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Zendesk Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zendesk and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply