Analysts Anticipate Zendesk, Inc. (ZEN) Will Announce Quarterly Sales of $99.50 Million

Analysts expect Zendesk, Inc. (NYSE:ZEN) to post $99.50 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Zendesk’s earnings. The lowest sales estimate is $98.30 million and the highest is $100.00 million. Zendesk posted sales of $74.20 million during the same quarter last year, which would indicate a positive year over year growth rate of 34.1%. The business is expected to announce its next earnings results on Tuesday, August 1st.

On average, analysts expect that Zendesk will report full-year sales of $99.50 million for the current fiscal year, with estimates ranging from $418.40 million to $424.20 million. For the next year, analysts expect that the firm will post sales of $546.68 million per share, with estimates ranging from $530.30 million to $581.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Zendesk.

Zendesk (NYSE:ZEN) last released its earnings results on Thursday, May 4th. The software maker reported ($0.05) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.01. Zendesk had a negative return on equity of 31.90% and a negative net margin of 30.79%. The firm had revenue of $93.01 million during the quarter, compared to the consensus estimate of $92.46 million. During the same quarter in the previous year, the company posted ($0.08) earnings per share. The company’s revenue was up 35.9% compared to the same quarter last year.

A number of analysts recently issued reports on ZEN shares. Zacks Investment Research cut Zendesk from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 13th. Guggenheim reissued a “buy” rating and issued a $33.00 target price on shares of Zendesk in a research report on Tuesday, April 18th. William Blair reissued an “outperform” rating on shares of Zendesk in a research report on Monday, April 3rd. Rosenblatt Securities reissued a “buy” rating and issued a $34.00 target price on shares of Zendesk in a research report on Wednesday, March 8th. Finally, BidaskClub cut Zendesk from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 29th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Zendesk currently has an average rating of “Buy” and an average price target of $32.75.

In related news, CEO Mikkel Svane sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $27.20, for a total value of $1,360,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,777,268 shares of the company’s stock, valued at approximately $48,341,689.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John Geschke sold 8,334 shares of the firm’s stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $30.06, for a total value of $250,520.04. Following the completion of the transaction, the senior vice president now directly owns 16,380 shares of the company’s stock, valued at $492,382.80. The disclosure for this sale can be found here. Insiders sold a total of 140,475 shares of company stock valued at $3,816,698 over the last ninety days. 5.30% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in Zendesk by 2.5% in the first quarter. Principal Financial Group Inc. now owns 11,605 shares of the software maker’s stock valued at $325,000 after buying an additional 283 shares during the last quarter. Parallel Advisors LLC increased its position in Zendesk by 5.3% in the first quarter. Parallel Advisors LLC now owns 7,975 shares of the software maker’s stock valued at $233,000 after buying an additional 400 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in Zendesk by 2.1% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 32,300 shares of the software maker’s stock valued at $685,000 after buying an additional 670 shares during the last quarter. Trillium Asset Management LLC increased its position in Zendesk by 1.6% in the first quarter. Trillium Asset Management LLC now owns 52,838 shares of the software maker’s stock valued at $1,482,000 after buying an additional 831 shares during the last quarter. Finally, Keybank National Association OH increased its position in Zendesk by 9.4% in the fourth quarter. Keybank National Association OH now owns 18,522 shares of the software maker’s stock valued at $393,000 after buying an additional 1,589 shares during the last quarter. 92.12% of the stock is owned by institutional investors.

ILLEGAL ACTIVITY WARNING: “Analysts Anticipate Zendesk, Inc. (ZEN) Will Announce Quarterly Sales of $99.50 Million” was published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are viewing this story on another publication, it was illegally stolen and reposted in violation of United States & international copyright & trademark laws. The legal version of this story can be accessed at https://www.chaffeybreeze.com/2017/07/30/analysts-anticipate-zendesk-inc-zen-will-announce-quarterly-sales-of-99-50-million-updated-updated-updated.html.

Zendesk (NYSE ZEN) traded down 1.98% during midday trading on Thursday, hitting $27.23. The company had a trading volume of 439,679 shares. Zendesk has a 12 month low of $19.77 and a 12 month high of $31.88. The firm has a 50-day moving average price of $26.92 and a 200-day moving average price of $26.17. The company’s market cap is $2.69 billion.

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

Latest News

Leave a Reply