|Bid||82.27 x 1400|
|Ask||82.38 x 1000|
|Day's Range||81.25 - 84.06|
|52 Week Range||50.23 - 94.89|
|Beta (5Y Monthly)||1.33|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul. 28, 2020 - Aug. 03, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||85.17|
Veeva Systems (NYSE: VEEV) and Zendesk (NYSE: ZEN) have both been resilient stocks throughout the COVID-19 crisis. Demand for Veeva's life science cloud services accelerated as drugmakers tracked more customer relationships, clinical trial data, and other information on its platform. Zendesk's cloud-based platform, which provides customer service tools via phone, email, chat, and social media networks, also saw stable demand as companies increasingly relied on online channels.
(Bloomberg) -- Salesforce.com Inc. trimmed its annual revenue and profit forecasts, indicating that the coronavirus-induced recession has weakened demand for the software maker’s cloud applications. Shares declined 4% in extended trading on the news.Sales in fiscal 2021 will be about $20 billion, down from an earlier projection of as much as $21.1 billion, the San Francisco-based company said Thursday in a statement. Analysts, on average, estimated $20.7 billion.The company expects profit, excluding some items, of $2.93 to $2.95 a share, compared with analysts’ projection of $3.14.Chief Executive Officer Marc Benioff, now heading the company solo after co-CEO Keith Block stepped down from his post in February, pledged in March that Salesforce wouldn’t conduct major job cuts for 90 days, and encouraged other CEOs to make the same promise. Earlier this month, the company unveiled software to help businesses safely reopen their offices with systems that manage employees’ shifts and facility cleaning schedules.“The guidance is a bit disappointing when everyone is watching to see how Salesforce does because it’s going to be a bellwether for a lot of other folks,” Rebecca Wettemann, an analyst at Valoir Inc., said in an interview. “It reflects the difficult times right now.”Shares fell to a low of $172.72 in extended trading after closing at $181.10 in New York. The stock has climbed 11% this year.In the fiscal first quarter, sales increased 30% to $4.87 billion from a year earlier. Adjusted profit was 70 cents a share.“Our results, amidst this global crisis, demonstrated our ability to execute at speed, innovate at scale and the strength of our business model,” Benioff said in the statement.Revenue from Sales Cloud, the flagship product, increased 16% to $1.25 billion. The company leads the market for sales-tracking software, but growth rates have slowed over time.Service Cloud sales increased about 23% to $1.25 billion in the period ended April 30, narrowly surpassing Sales Cloud. The software maker offers this tool so companies can communicate with field employees and customers, an area where it faces competition from ServiceNow Inc., Zendesk Inc. and others.(Updates with comments from analyst in fifth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Investors should look for stocks within growth industries that present strong longer-term buying opportunities. So let's look at three cloud-focused tech stocks that might be worth buying right now...
Ladies and gentlemen, thank you for standing by, and welcome to the Zendesk Q1 2020 Earnings Call. Joining me on the call today are Mikkel Svane, our Founder, CEO and Chair of the Board and Elena Gomez, our Chief Financial Officer. During the course of today's call, we may make forward-looking statements such as statements regarding our future financial performance, product development, growth prospects, ability to attract and retain customers and ability to compete effectively.
(Bloomberg) -- Zendesk Inc. withdrew its annual sales forecast and projected slowing revenue growth in the second quarter, signaling that the coronavirus pandemic has trimmed demand for customer-service software.Revenue will be $237 million to $243 million in the period ending June 30, which would be as much as a 25% increase from a year earlier, the San Francisco-based company said Thursday in a statement. Analysts had expected $245 million, according to data compiled by Bloomberg. Zendesk projected operating income, excluding some expenses, of $8 million to $12 million.The company in February told investors to expect sales of as much as $1.07 billion in 2020. Now, Zendesk’s timetable for crossing the billion-dollar revenue mark is in doubt. First-quarter sales increased 31% to $237.4 million from a year earlier, in line with analysts’ expectations.Zendesk Chief Executive Officer Mikkel Svane has sought to sell the company’s software to larger businesses and, in the process, compete more directly against Salesforce.com Inc. The company now relies on small and mid-sized businesses seeking applications to manage their customer relationships. Before the results, analysts had warned that Zendesk’s customer base would expose it more directly to the economic downturn than software makers with larger clients like Microsoft Corp. and Salesforce.Chief Financial Officer Elena Gomez said she was worried about the company’s “pivot” to remote work as the virus hit. “We’ve been able to continue to do business and we’ve had a lot of organizations and large enterprises coming to us to adopt our solutions to help respond to the crisis,” she said. “That positions us for strength as we come out of Covid.”Zendesk is seeking payment flexibility for customers in hard-hit industries, Gomez said on a conference call. And there has been a surge in use of customer-service software among all its clients, Svane added.Shares declined about 5% in extended trading after closing at $76.88 in New York. The stock has been little changed since the start of the year.(Updates with CFO remarks in sixth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Zendesk, Inc. (NYSE: ZEN) today announced a strategic alliance with Tata Consultancy Services (TCS) to provide world-class, enterprise grade CRM solutions for large Enterprises. The partnership combines Zendesk’s powerful support, sales and engagement software solutions together with TCS’ deep contextual knowledge and experience in digital transformation. Together, Zendesk and TCS will collaborate and more efficiently solve companies’ increasingly complex technological requirements and provide powerful CRM custom solutions and integrations.
Like many technology companies, Zendesk made the tough decision to cancel its Zendesk Relate customer conference this week in Miami amid COVID-19 health concerns. You may recall that the company, which is widely known for its help desk software, made the move to CRM when it acquired Base in September 2018. A little later that year, it announced the Sunshine platform, which customers could use to build applications on top of the Zendesk platform.
Zendesk, Inc. (NYSE: ZEN) today announced new, powerful Support and Sales Suites, expanding its service-first CRM solutions by enabling service and sales teams to instantly connect with their customers and have natural conversations across all touchpoints. The modern set of offerings helps companies easily build positive, long-term customer relationships.
Zendesk, Inc. (NYSE: ZEN) today announced new functionality for its open and flexible CRM platform Zendesk Sunshine that lets companies connect and understand all their customer data. These capabilities built on Amazon Web Services (AWS) help companies boost agent productivity and personalize customer experiences with a complete view of their customers’ activity across systems.
Zendesk, Inc. (NYSE: ZEN) today announced that it will hold its annual analyst and investor event on March 4, 2020 as a virtual event. The analyst and investor event will include executive presentations followed by a question and answer session. It will be available via live webcast beginning at 10:00 a.m. Pacific Time, and an archive version will be available for six months. Both will be accessible by visiting Zendesk’s investor website at investor.zendesk.com.
Stonly is building a service for customer support teams so that they can share step-by-step guides to solve the most common issues users have. The startup just raised a $3.5 million funding round led by Accel with business angels also participating, such as Eventbrite CTO Renaud Visage and PeopleDoc founders Jonathan Benhamou and Clément Buyse. The startup isn’t building a chatbot for customer support — chatbots usually don’t understand what you mean and you end up contacting customer support anyway.
(Bloomberg) -- Salesforce.com Inc. Co-Chief Executive Officer Keith Block stepped down Tuesday after revamping the software maker’s growth strategy, helping fuel a fourfold increase in revenue during his tenure.Block garnered less public attention than founder and Chief Executive Officer Marc Benioff during his seven years at the market leader for customer-relations software, but took command of day-to-day operations behind the scenes. Block, promoted from president to chief operating officer to co-CEO with Benioff in August 2018, professionalized the sales organization, taking lessons from his 26-year stint at Oracle Corp. He persuaded Benioff the company should tailor software for different industries, which expanded the universe of customers. And, as co-CEO, Block allowed Benioff time to focus on his many political and philanthropic initiatives.“Keith has really inspired us to be much more committed to verticals and vertical solutions than ever before,” Benioff said on a conference call with analysts. “It’s going to be a huge part of his legacy here.”Benioff said he would partner with Block in his undisclosed “next chapter.” The former co-CEO will remain an adviser, the company said.“Keith Block’s departure as Salesforce.com CEO dims enthusiasm over a strong 4Q, as he’s been critical to successes over the past seven years and leaves a short-term vacuum,” Anurag Rana, an analyst at Bloomberg Intelligence, wrote in a research note. Salesforce shares declined about 2.5% in extended trading after the announcement.Despite Block’s departure, Benioff tried to reassure investors that Salesforce has a deep leadership bench. The company recently promoted Bret Taylor, the former product head, to chief operating officer and gave him additional responsibilities, suggesting he will become even more consequential in Block’s absence.Block’s focus on selling industry-specific software will remain prominent at the company, which also Tuesday announced a $1.3 billion acquisition of Vlocity Inc. to bolster that effort. Vlocity’s apps focus on six specific industries and help subscribers manage relationships with their customers, including T-Mobile US Inc. and TELUS Corp.Salesforce was an investor in the San Francisco-based startup founded by former Oracle executive David Schmaier. Vlocity’s software is built on Salesforce’s platform and Schmaier consulted Benioff and other Salesforce executives before starting the business, he said in a 2018 interview. Vlocity had a habit of locating its offices in Salesforce-occupied buildings, ensuring it would remain visible to the cloud-software pioneer.Vlocity’s current headquarters is in the Salesforce Tower, suggesting a relocation won’t be necessary if the deal closes as expected in the fiscal second quarter.Though Block was known for his sales acumen, he wanted to broaden his duties, which was part of the reason he took on a more diversified co-CEO role, Benioff said.Benioff and Block had sought to maintain Salesforce’s annual growth rates of about 25% through frequent acquisitions and international expansion. By the end of the fiscal year, the company is on target to have doubled its annual revenue over the past three years, spurred by snapping up MuleSoft Inc. in 2018 and Tableau Software Inc. in 2019.Sales will be as much as $21.1 billion in fiscal 2021, the San Francisco-based company said. Analysts projected $20.9 billion, according to data compiled by Bloomberg, which is at the top end of what the company had forecast in early December.In the fiscal fourth quarter, Salesforce reported Tuesday that revenue gained 35% to $4.85 billion, marking the second consecutive period of more than 30% year-over-year growth. Analysts, on average, projected $4.75 billion. Earnings, excluding some items, were 66 cents a share, topping analysts’ estimates of 56 cents.Revenue from Sales Cloud, the company’s flagship product, grew about 17% to $1.23 billion in the quarter ended Jan. 31. The company leads the market for sales-tracking software, but growth rates have slowed down, prompting Salesforce to diversify its business.Service Cloud sales increased 26% to $1.22 billion. The software maker offers this tool so companies can communicate with field employees and customers, a space where it faces competition from ServiceNow Inc., Zendesk Inc. and others.To contact the reporter on this story: Nico Grant in San Francisco at email@example.comTo contact the editors responsible for this story: Jillian Ward at firstname.lastname@example.org, Andrew Pollack, Edwin ChanFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Chattermill, the London startup that offers what it calls a "customer understanding" platform that uses machine learning to gain scalable insights into customer feedback, has raised $8 million in Series A funding. Silicon Valley Bank also participated, in addition to a number of angel investors including Matt Price (Senior Vice President at Zendesk), and Nilan Peiris (VP Growth at Transferwise). Existing investors Entrepreneur First, Avonmore Developments and 2be.lu also followed on.
Zendesk (ZEN) delivered earnings and revenue surprises of -9.09% and 0.91%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?
NEW YORK, NY / ACCESSWIRE / February 6, 2020 / Zendesk, Inc. (NYSE:ZEN) will be discussing their earnings results in their 2019 Fourth Quarter Earnings call to be held on February 6, 2020 at 5:00 PM Eastern ...
Zendesk (ZEN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.