Zendesk Inc (ZEN) Releases Earnings Results, Beats Expectations By $0.03 EPS

Zendesk Inc (ZEN) reported quarterly earnings results on Tuesday, Aug-2-2016. The company said it had a profit of $-0.06 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $-0.09. The company posted revenue of $74.20 million in the period, compared to analysts expectations of $72.34 million. The company’s revenue was up 53.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.08 EPS.

Many Wall Street Analysts have commented on Zendesk Inc. Company shares were Reiterated by RBC Capital Mkts on Jul 27, 2016 to “Outperform”, Firm has raised the Price Target to $ 33 from a previous price target of $27 .Zendesk Inc was Initiated by Stifel to “Hold” on Jul 19, 2016. Piper Jaffray Initiated Zendesk Inc on Jun 1, 2016 to “Overweight”, Price Target of the shares are set at $35.

Zendesk Inc opened for trading at $29.56 and hit $30.31 on the upside on Friday, eventually ending the session at $30.24, with a gain of 2.09% or 0.62 points. The heightened volatility saw the trading volume jump to 13,26,988 shares. Company has a market cap of $2,774 M.

In a different news, on Jul 27, 2016, Adrian Mcdermott (SVP of Product Development) sold 5,552 shares at $28.08 per share price. According to the SEC, on May 26, 2016, Dana Stalder (director) sold 20,000 shares at $24.48 per share price. On May 20, 2016, John Geschke (GC, SVP Admin and Secretary) sold 5,000 shares at $23.59 per share price, according to the Form-4 filing with the securities and exchange commission.

Zendesk Inc. (Zendesk) is a software development company. The Company provides software as a service (SaaS) customer service platform. The Company answers customers’ questions and solves their problems through email chat voice social media and Websites. Its platform also helps people find answers on their own through knowledge bases and communities. The Company’s platform consolidates the data from customer interactions and provides organizations with analytics and performance benchmarking. The Company through its subsidiary Zopim provides live chat software as a standalone service and as an integrated service with its customer service platform for chat-enabled agents. The Company also offers freemium plans for its customer service platform and live chat software as well as email collaboration software. Its customers are located in 150 countries and territories and provide service through its customer service platform in over 40 languages.

Zendesk Inc

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