Wall Street brokerages expect Zendesk Inc (NYSE:ZEN) to post $152.08 million in sales for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Zendesk’s earnings, with the highest sales estimate coming in at $153.00 million and the lowest estimate coming in at $151.00 million. Zendesk reported sales of $112.79 million in the same quarter last year, which indicates a positive year-over-year growth rate of 34.8%. The business is expected to report its next quarterly earnings report after the market closes on Tuesday, October 30th.
According to Zacks, analysts expect that Zendesk will report full-year sales of $586.17 million for the current year, with estimates ranging from $584.20 million to $588.00 million. For the next fiscal year, analysts anticipate that the business will report sales of $770.24 million, with estimates ranging from $752.50 million to $803.70 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Zendesk.
Zendesk (NYSE:ZEN) last posted its quarterly earnings data on Tuesday, July 31st. The software maker reported $0.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.26) by $0.29. The firm had revenue of $141.88 million during the quarter, compared to analysts’ expectations of $137.96 million. Zendesk had a negative net margin of 23.24% and a negative return on equity of 28.60%.
A number of research firms recently weighed in on ZEN. Morgan Stanley increased their price objective on shares of Zendesk from $65.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, July 27th. Stifel Nicolaus increased their price objective on shares of Zendesk from $60.00 to $68.00 and gave the stock a “hold” rating in a research report on Tuesday, September 11th. Craig Hallum increased their price objective on shares of Zendesk from $63.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Evercore ISI reaffirmed a “buy” rating and set a $70.00 price objective on shares of Zendesk in a research report on Sunday, August 5th. Finally, Royal Bank of Canada increased their price objective on shares of Zendesk to $68.00 and gave the stock an “outperform” rating in a research report on Monday, July 30th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $65.00.
In other Zendesk news, CFO Elena Gomez sold 1,092 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $60.79, for a total value of $66,382.68. Following the completion of the transaction, the chief financial officer now owns 16,666 shares of the company’s stock, valued at approximately $1,013,126.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Adrian Mcdermott sold 1,809 shares of the firm’s stock in a transaction that occurred on Wednesday, July 18th. The shares were sold at an average price of $60.33, for a total transaction of $109,136.97. Following the completion of the transaction, the insider now directly owns 80,267 shares of the company’s stock, valued at approximately $4,842,508.11. The disclosure for this sale can be found here. Insiders sold a total of 112,704 shares of company stock valued at $7,165,886 in the last three months. 4.70% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. acquired a new stake in shares of Zendesk in the 2nd quarter valued at $249,000. Public Employees Retirement System of Ohio raised its holdings in shares of Zendesk by 55.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 117,321 shares of the software maker’s stock valued at $6,393,000 after purchasing an additional 41,905 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Zendesk in the 2nd quarter valued at $236,000. Nomura Holdings Inc. acquired a new stake in shares of Zendesk in the 2nd quarter valued at $336,000. Finally, Global X Management Co LLC acquired a new stake in shares of Zendesk in the 2nd quarter valued at $228,000. 92.20% of the stock is owned by institutional investors.
Shares of NYSE:ZEN traded up $2.44 during mid-day trading on Friday, reaching $61.61. 1,704,229 shares of the company were exchanged, compared to its average volume of 1,325,044. The company has a debt-to-equity ratio of 1.10, a quick ratio of 2.74 and a current ratio of 2.74. The stock has a market capitalization of $7.52 billion, a P/E ratio of -59.82 and a beta of 1.61. Zendesk has a 1 year low of $29.45 and a 1 year high of $72.76.
Zendesk Company Profile
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, in applications, and on mobile devices; Zendesk Talk, a cloud-based call center software; Zendesk Guide, a knowledge base that for customer self-service and support agent productivity; Zendesk Message, a customer messaging software; and Zendesk Explore that makes customer data accessible across an organization.
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