Zendesk Inc (NYSE:ZEN) – Investment analysts at Piper Jaffray Companies raised their FY2018 EPS estimates for Zendesk in a research note issued to investors on Wednesday, October 31st. Piper Jaffray Companies analyst A. Zukin now forecasts that the software maker will earn ($0.93) per share for the year, up from their prior estimate of ($0.95). Piper Jaffray Companies also issued estimates for Zendesk’s Q4 2018 earnings at ($0.29) EPS.
Several other equities research analysts also recently issued reports on ZEN. Zacks Investment Research upgraded Zendesk from a “sell” rating to a “hold” rating in a report on Saturday. UBS Group set a $56.00 price objective on Zendesk and gave the company a “hold” rating in a report on Wednesday, October 31st. Canaccord Genuity reiterated a “buy” rating and issued a $65.00 price objective on shares of Zendesk in a report on Wednesday, August 1st. Royal Bank of Canada boosted their price objective on Zendesk to $68.00 and gave the company an “outperform” rating in a report on Monday, July 30th. Finally, Deutsche Bank cut their price objective on Zendesk from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, October 31st. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $65.59.
ZEN stock opened at $53.01 on Monday. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $5.85 billion, a P/E ratio of -51.47 and a beta of 1.84. Zendesk has a 12-month low of $31.90 and a 12-month high of $72.76.
Zendesk (NYSE:ZEN) last posted its quarterly earnings data on Tuesday, October 30th. The software maker reported $0.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.05. The firm had revenue of $154.83 million for the quarter, compared to the consensus estimate of $151.78 million. Zendesk had a negative return on equity of 26.66% and a negative net margin of 22.64%. The company’s quarterly revenue was up 37.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.02) EPS.
In other Zendesk news, insider Adrian Mcdermott sold 1,811 shares of the company’s stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $62.10, for a total transaction of $112,463.10. Following the sale, the insider now owns 80,267 shares in the company, valued at approximately $4,984,580.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Elena Gomez sold 7,000 shares of the company’s stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $65.00, for a total value of $455,000.00. Following the sale, the chief financial officer now owns 23,614 shares in the company, valued at approximately $1,534,910. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 98,876 shares of company stock worth $6,331,517. 4.70% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Catalyst Capital Advisors LLC increased its holdings in Zendesk by 2,509.9% during the 2nd quarter. Catalyst Capital Advisors LLC now owns 2,114 shares of the software maker’s stock worth $115,000 after purchasing an additional 2,033 shares during the period. Harvest Fund Management Co. Ltd increased its holdings in shares of Zendesk by 211.8% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 2,242 shares of the software maker’s stock valued at $159,000 after acquiring an additional 1,523 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Zendesk in the 2nd quarter valued at about $180,000. Oakbrook Investments LLC purchased a new position in shares of Zendesk in the 3rd quarter valued at about $234,000. Finally, Tower Research Capital LLC TRC purchased a new position in shares of Zendesk in the 2nd quarter valued at about $193,000. Institutional investors own 92.74% of the company’s stock.
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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