William Blair Comments on Zendesk Inc’s Q1 2018 Earnings (ZEN)

Zendesk Inc (NYSE:ZEN) – Investment analysts at William Blair issued their Q1 2018 earnings per share estimates for shares of Zendesk in a research report issued on Wednesday. William Blair analyst B. Suri expects that the software maker will earn ($0.26) per share for the quarter. William Blair also issued estimates for Zendesk’s Q2 2018 earnings at ($0.23) EPS, Q3 2018 earnings at ($0.22) EPS, Q4 2018 earnings at ($0.21) EPS, FY2018 earnings at ($0.91) EPS and FY2019 earnings at ($0.83) EPS.

Zendesk (NYSE:ZEN) last released its quarterly earnings data on Tuesday, February 6th. The software maker reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.03. The company had revenue of $123.43 million for the quarter, compared to analyst estimates of $119.68 million. Zendesk had a negative net margin of 25.70% and a negative return on equity of 32.88%. Zendesk’s revenue for the quarter was up 39.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.04) EPS.

A number of other research analysts have also commented on the stock. UBS Group reiterated a “neutral” rating and issued a $38.00 price target (up previously from $37.00) on shares of Zendesk in a research note on Thursday, November 9th. Royal Bank of Canada reiterated a “buy” rating and issued a $42.00 price target on shares of Zendesk in a research note on Wednesday, January 17th. Canaccord Genuity upped their price target on shares of Zendesk from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. Piper Jaffray Companies reiterated a “buy” rating and issued a $42.00 price target on shares of Zendesk in a research note on Tuesday, January 23rd. Finally, Bank of America upped their price target on shares of Zendesk from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $40.31.

Zendesk (NYSE ZEN) opened at $39.10 on Monday. The firm has a market cap of $3,968.92, a PE ratio of -35.23 and a beta of 1.87. Zendesk has a 52 week low of $24.49 and a 52 week high of $42.35.

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in Zendesk by 10.9% during the 2nd quarter. Vanguard Group Inc. now owns 7,365,549 shares of the software maker’s stock worth $204,615,000 after purchasing an additional 721,652 shares in the last quarter. Wells Fargo & Company MN increased its position in Zendesk by 14.0% in the 4th quarter. Wells Fargo & Company MN now owns 2,105,554 shares of the software maker’s stock valued at $71,251,000 after acquiring an additional 258,469 shares during the period. State Street Corp increased its position in Zendesk by 22.6% in the 2nd quarter. State Street Corp now owns 1,813,976 shares of the software maker’s stock valued at $50,395,000 after acquiring an additional 334,769 shares during the period. Calamos Advisors LLC increased its position in Zendesk by 8.8% in the 3rd quarter. Calamos Advisors LLC now owns 1,645,329 shares of the software maker’s stock valued at $47,896,000 after acquiring an additional 133,346 shares during the period. Finally, Northern Trust Corp increased its position in Zendesk by 22.0% in the 2nd quarter. Northern Trust Corp now owns 1,184,640 shares of the software maker’s stock valued at $32,910,000 after acquiring an additional 213,704 shares during the period. 93.94% of the stock is owned by institutional investors.

In other Zendesk news, Chairman Mikkel Svane sold 50,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $34.31, for a total value of $1,715,500.00. Following the completion of the sale, the chairman now owns 1,734,891 shares of the company’s stock, valued at approximately $59,524,110.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Adrian Mcdermott sold 1,593 shares of the business’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $36.27, for a total transaction of $57,778.11. Following the completion of the sale, the insider now directly owns 81,081 shares of the company’s stock, valued at approximately $2,940,807.87. The disclosure for this sale can be found here. Insiders sold a total of 91,699 shares of company stock valued at $3,201,988 in the last three months. Insiders own 5.30% of the company’s stock.

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About Zendesk

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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