Zendesk, Inc. (NYSE:ZEN) Expected to Post Quarterly Sales of $384.28 Million

Equities research analysts expect that Zendesk, Inc. (NYSE:ZENGet Rating) will announce $384.28 million in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Zendesk’s earnings, with the highest sales estimate coming in at $385.00 million and the lowest estimate coming in at $383.82 million. Zendesk posted sales of $298.05 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 28.9%. The company is scheduled to issue its next earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Zendesk will report full-year sales of $1.69 billion for the current year, with estimates ranging from $1.68 billion to $1.70 billion. For the next year, analysts anticipate that the business will post sales of $2.10 billion, with estimates ranging from $2.07 billion to $2.12 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Zendesk.

Zendesk (NYSE:ZENGet Rating) last issued its earnings results on Thursday, February 10th. The software maker reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.05). The business had revenue of $375.37 million during the quarter, compared to the consensus estimate of $369.81 million. Zendesk had a negative net margin of 16.71% and a negative return on equity of 30.17%. The firm’s revenue for the quarter was up 32.4% compared to the same quarter last year. During the same period last year, the business posted ($0.34) EPS.

ZEN has been the topic of several recent research reports. Piper Sandler raised their target price on shares of Zendesk from $112.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, February 11th. Zacks Investment Research downgraded shares of Zendesk from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 14th. UBS Group increased their price target on shares of Zendesk from $117.00 to $128.00 in a research report on Friday, February 11th. StockNews.com started coverage on shares of Zendesk in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Wolfe Research downgraded shares of Zendesk from an “outperform” rating to a “peer perform” rating and set a $130.00 price target on the stock. in a research report on Sunday, February 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $134.30.

In other news, insider Norman Gennaro sold 7,000 shares of Zendesk stock in a transaction that occurred on Tuesday, March 15th. The shares were sold at an average price of $111.64, for a total value of $781,480.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Adrian Mcdermott sold 9,727 shares of Zendesk stock in a transaction that occurred on Tuesday, February 1st. The shares were sold at an average price of $99.44, for a total transaction of $967,252.88. The disclosure for this sale can be found here. Insiders have sold a total of 82,199 shares of company stock worth $9,445,346 over the last 90 days. Corporate insiders own 3.60% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Capital World Investors raised its holdings in shares of Zendesk by 47.8% in the fourth quarter. Capital World Investors now owns 14,666,370 shares of the software maker’s stock valued at $1,529,556,000 after purchasing an additional 4,743,356 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Zendesk by 7.5% in the third quarter. Janus Henderson Group PLC now owns 7,284,258 shares of the software maker’s stock valued at $847,844,000 after buying an additional 505,630 shares in the last quarter. Pictet Asset Management SA grew its stake in shares of Zendesk by 9.4% in the fourth quarter. Pictet Asset Management SA now owns 3,695,590 shares of the software maker’s stock valued at $385,413,000 after buying an additional 316,453 shares in the last quarter. Champlain Investment Partners LLC grew its stake in shares of Zendesk by 4.3% in the fourth quarter. Champlain Investment Partners LLC now owns 2,108,715 shares of the software maker’s stock valued at $219,918,000 after buying an additional 87,455 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Zendesk by 5.6% in the fourth quarter. Geode Capital Management LLC now owns 1,481,234 shares of the software maker’s stock valued at $154,247,000 after buying an additional 78,682 shares in the last quarter. Institutional investors own 94.91% of the company’s stock.

Shares of NYSE ZEN opened at $121.69 on Tuesday. The firm has a market capitalization of $14.83 billion, a PE ratio of -65.07 and a beta of 1.00. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 2.00. Zendesk has a 1 year low of $87.90 and a 1 year high of $155.62. The firm’s 50-day moving average is $118.24 and its 200-day moving average is $109.13.

About Zendesk (Get Rating)

Zendesk, Inc engages in the provision of customer service platform which enables companies to provide customer support. Its products and services include support; guide; chat; talk; message; inbox team email; explore; connect plus outbound; integrations and apps; embeddables; insights and analytics; and products update.

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