$108.96 Million in Sales Expected for Zendesk, Inc. (ZEN) This Quarter
Wall Street brokerages predict that Zendesk, Inc. (NYSE:ZEN) will report $108.96 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Zendesk’s earnings, with the highest sales estimate coming in at $109.50 million and the lowest estimate coming in at $108.60 million. Zendesk reported sales of $80.72 million during the same quarter last year, which indicates a positive year-over-year growth rate of 35%. The company is scheduled to report its next earnings results on Tuesday, November 7th.
On average, analysts expect that Zendesk will report full-year sales of $108.96 million for the current fiscal year, with estimates ranging from $421.00 million to $423.00 million. For the next financial year, analysts expect that the company will report sales of $548.18 million per share, with estimates ranging from $538.00 million to $564.30 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Zendesk.
Zendesk (NYSE:ZEN) last released its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.20. The firm had revenue of $101.30 million for the quarter, compared to analysts’ expectations of $99.47 million. Zendesk had a negative net margin of 29.34% and a negative return on equity of 32.10%. The firm’s revenue for the quarter was up 36.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.06) earnings per share.
A number of equities research analysts have recently commented on ZEN shares. Zacks Investment Research upgraded shares of Zendesk from a “sell” rating to a “hold” rating in a research report on Thursday, June 8th. KeyCorp reiterated a “buy” rating and issued a $35.00 target price on shares of Zendesk in a research report on Friday, August 4th. Stifel Nicolaus reiterated a “hold” rating on shares of Zendesk in a research report on Friday, July 21st. BidaskClub cut shares of Zendesk from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 29th. Finally, Piper Jaffray Companies set a $33.00 price objective on shares of Zendesk and gave the company a “buy” rating in a report on Saturday, August 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $33.00.
Zendesk (NYSE:ZEN) opened at 27.35 on Thursday. The stock’s market capitalization is $2.75 billion. Zendesk has a 52-week low of $19.77 and a 52-week high of $31.88. The stock’s 50 day moving average is $28.03 and its 200-day moving average is $27.55.
In other Zendesk news, insider Adrian Mcdermott sold 1,766 shares of the stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $26.42, for a total transaction of $46,657.72. Following the completion of the transaction, the insider now owns 80,435 shares of the company’s stock, valued at $2,125,092.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Elena Gomez sold 1,431 shares of the stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $27.06, for a total transaction of $38,722.86. Following the transaction, the chief financial officer now directly owns 6,157 shares of the company’s stock, valued at approximately $166,608.42. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 115,392 shares of company stock valued at $3,248,201. 5.30% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the company. FMR LLC boosted its stake in shares of Zendesk by 2.0% in the second quarter. FMR LLC now owns 14,844,224 shares of the software maker’s stock valued at $412,372,000 after buying an additional 293,055 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Zendesk by 54.9% in the second quarter. BlackRock Inc. now owns 8,835,508 shares of the software maker’s stock valued at $245,450,000 after buying an additional 3,133,287 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Zendesk by 10.9% in the second quarter. Vanguard Group Inc. now owns 7,365,549 shares of the software maker’s stock valued at $204,615,000 after buying an additional 721,652 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Zendesk by 1.6% in the second quarter. Franklin Resources Inc. now owns 5,119,444 shares of the software maker’s stock valued at $142,213,000 after buying an additional 79,039 shares in the last quarter. Finally, Janus Henderson Group PLC acquired a new stake in shares of Zendesk during the second quarter valued at about $137,975,000. 96.06% of the stock is currently owned by institutional investors and hedge funds.
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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