Zendesk, Inc. (NYSE:ZEN) posted its quarterly earnings results on Wednesday. The software maker reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.04, Bloomberg Earnings reports. The firm had revenue of $112.79 million for the quarter, compared to the consensus estimate of $109.19 million. Zendesk had a negative net margin of 29.34% and a negative return on equity of 32.10%. The business’s revenue was up 39.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.04) earnings per share.
In related news, Chairman Mikkel Svane sold 50,000 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $28.10, for a total transaction of $1,405,000.00. Following the sale, the chairman now owns 1,730,990 shares in the company, valued at approximately $48,640,819. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Elena Gomez sold 1,431 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $27.06, for a total value of $38,722.86. Following the sale, the chief financial officer now owns 6,157 shares in the company, valued at approximately $166,608.42. The disclosure for this sale can be found here. Insiders have sold a total of 85,823 shares of company stock worth $2,429,819 in the last 90 days. 5.30% of the stock is currently owned by insiders.
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Several research firms have commented on ZEN. Morgan Stanley lifted their price target on shares of Zendesk from $33.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday, October 23rd. Royal Bank Of Canada restated a “buy” rating and issued a $35.00 target price on shares of Zendesk in a report on Wednesday, October 18th. KeyCorp restated a “buy” rating and issued a $35.00 target price on shares of Zendesk in a report on Sunday, October 15th. Stephens cut shares of Zendesk from an “equal weight” rating to an “underweight” rating and set a $25.00 target price on the stock. in a report on Monday, October 9th. Finally, Zacks Investment Research upgraded shares of Zendesk from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $32.86.
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.
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