Zendesk, Inc. (NYSE:ZEN – Get Rating) – Research analysts at Jefferies Financial Group cut their FY2022 earnings per share (EPS) estimates for shares of Zendesk in a research report issued to clients and investors on Monday, May 23rd. Jefferies Financial Group analyst S. Samana now forecasts that the software maker will post earnings of ($1.04) per share for the year, down from their prior estimate of ($1.03). Jefferies Financial Group also issued estimates for Zendesk’s Q4 2022 earnings at ($0.20) EPS, FY2022 earnings at ($1.04) EPS, Q1 2023 earnings at ($0.31) EPS, Q1 2023 earnings at ($0.31) EPS, Q3 2023 earnings at ($0.28) EPS, Q3 2023 earnings at ($0.28) EPS, Q4 2023 earnings at ($0.20) EPS, FY2023 earnings at ($1.06) EPS, FY2023 earnings at ($1.06) EPS, FY2024 earnings at ($0.86) EPS and FY2024 earnings at ($0.86) EPS.
A number of other equities research analysts have also issued reports on ZEN. Wolfe Research lowered shares of Zendesk from an “outperform” rating to a “peer perform” rating and set a $130.00 price objective for the company. in a report on Sunday, February 13th. StockNews.com assumed coverage on shares of Zendesk in a report on Thursday, March 31st. They set a “hold” rating for the company. UBS Group upped their price objective on Zendesk from $117.00 to $128.00 in a report on Friday, February 11th. Piper Sandler increased their price objective on Zendesk from $112.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, February 11th. Finally, Zacks Investment Research lowered Zendesk from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $133.30.
Shares of ZEN opened at $88.18 on Wednesday. Zendesk has a 52-week low of $87.48 and a 52-week high of $153.43. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 3.47. The stock has a fifty day simple moving average of $115.97 and a two-hundred day simple moving average of $108.10. The company has a market capitalization of $10.81 billion, a PE ratio of -44.09 and a beta of 0.94. Zendesk (NYSE:ZEN – Get Rating) last posted its quarterly earnings results on Thursday, April 28th. The software maker reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.03). Zendesk had a negative net margin of 16.91% and a negative return on equity of 36.18%. The company had revenue of $388.30 million during the quarter, compared to analysts’ expectations of $384.62 million. During the same quarter last year, the company earned ($0.29) earnings per share. Zendesk’s revenue for the quarter was up 30.3% on a year-over-year basis.
Hedge funds and other institutional investors have recently made changes to their positions in the business. New York State Common Retirement Fund lifted its position in Zendesk by 1.3% in the fourth quarter. New York State Common Retirement Fund now owns 232,631 shares of the software maker’s stock valued at $24,261,000 after acquiring an additional 3,031 shares during the last quarter. Pendal Group Ltd grew its stake in Zendesk by 107.6% during the 4th quarter. Pendal Group Ltd now owns 12,763 shares of the software maker’s stock worth $1,331,000 after buying an additional 6,615 shares during the last quarter. Capula Management Ltd increased its position in Zendesk by 382.9% during the third quarter. Capula Management Ltd now owns 11,666 shares of the software maker’s stock worth $1,358,000 after buying an additional 9,250 shares during the period. Donoghue Forlines LLC lifted its stake in Zendesk by 34.4% in the fourth quarter. Donoghue Forlines LLC now owns 5,907 shares of the software maker’s stock valued at $616,000 after buying an additional 1,512 shares during the last quarter. Finally, First Republic Investment Management Inc. boosted its holdings in shares of Zendesk by 189.3% in the fourth quarter. First Republic Investment Management Inc. now owns 27,151 shares of the software maker’s stock valued at $2,832,000 after acquiring an additional 17,765 shares during the period. 98.72% of the stock is owned by institutional investors.
In related news, insider John Geschke sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, March 11th. The shares were sold at an average price of $116.33, for a total transaction of $348,990.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Norman Gennaro sold 7,000 shares of Zendesk stock in a transaction that occurred on Sunday, May 15th. The stock was sold at an average price of $100.20, for a total transaction of $701,400.00. Following the completion of the transaction, the insider now owns 30,911 shares of the company’s stock, valued at approximately $3,097,282.20. The disclosure for this sale can be found here. Insiders sold a total of 37,003 shares of company stock valued at $4,263,936 in the last three months. 3.60% of the stock is currently owned by corporate insiders.
About Zendesk (Get Rating)
Zendesk, Inc, a software development company, provides software as a service solutions for organizations in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. Its flagship product is Zendesk Support, a system for tracking, prioritizing, and solving customer support tickets across various channels.
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