Zuora (NYSE:ZUO) Receives Buy Rating from Needham & Company LLC

Zuora (NYSE:ZUO)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a report issued on Thursday, Benzinga reports. They presently have a $15.00 price objective on the stock. Needham & Company LLC’s target price suggests a potential upside of 51.06% from the company’s previous close.

A number of other research firms have also recently weighed in on ZUO. Jefferies Financial Group upped their price objective on shares of Zuora from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Thursday, May 23rd. Robert W. Baird raised their price objective on shares of Zuora from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Canaccord Genuity Group restated a “buy” rating and set a $13.00 target price on shares of Zuora in a report on Thursday, May 23rd. Finally, Lake Street Capital raised their price objective on shares of Zuora from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Zuora presently has an average rating of “Moderate Buy” and a consensus target price of $12.17.

Zuora Trading Up 3.2 %

ZUO stock opened at $9.93 on Thursday. The company has a market cap of $1.45 billion, a price-to-earnings ratio of -23.09 and a beta of 1.72. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 2.60. The business has a fifty day simple moving average of $9.90 and a 200-day simple moving average of $9.17. Zuora has a 52 week low of $7.05 and a 52 week high of $11.80.

Zuora (NYSE:ZUO) last announced its quarterly earnings results on Wednesday, May 22nd. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.09. Zuora had a negative net margin of 14.28% and a negative return on equity of 30.17%. The firm had revenue of $109.77 million during the quarter, compared to analysts’ expectations of $108.80 million. On average, equities research analysts expect that Zuora will post -0.16 EPS for the current year.

Insider Activity

In other Zuora news, CEO Tien Tzuo sold 81,635 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $8.87, for a total value of $724,102.45. Following the completion of the transaction, the chief executive officer now directly owns 6,352 shares of the company’s stock, valued at $56,342.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Andrew M. Cohen sold 3,794 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $8.29, for a total value of $31,452.26. Following the completion of the transaction, the insider now owns 134,104 shares in the company, valued at $1,111,722.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Tien Tzuo sold 81,635 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $8.87, for a total transaction of $724,102.45. Following the completion of the transaction, the chief executive officer now owns 6,352 shares of the company’s stock, valued at approximately $56,342.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 481,854 shares of company stock worth $4,393,048. Corporate insiders own 8.62% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Zuora by 5.6% in the first quarter. Vanguard Group Inc. now owns 17,262,494 shares of the company’s stock valued at $157,434,000 after purchasing an additional 917,565 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Zuora by 13.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,740,046 shares of the company’s stock valued at $35,156,000 after buying an additional 429,705 shares during the last quarter. Bares Capital Management Inc. raised its holdings in Zuora by 41.4% during the 1st quarter. Bares Capital Management Inc. now owns 1,746,292 shares of the company’s stock worth $15,926,000 after purchasing an additional 511,292 shares during the last quarter. Scalar Gauge Management LLC bought a new position in Zuora during the 4th quarter worth approximately $12,620,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Zuora by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,147,650 shares of the company’s stock worth $10,788,000 after purchasing an additional 38,133 shares during the last quarter. Institutional investors and hedge funds own 83.02% of the company’s stock.

Zuora Company Profile

Zuora, Inc provides a monetization suite for modern businesses to help companies launch and scale new services and operate dynamic customer-centric business models. The company offers Zuora Billing that allows customers to deploy various pricing and packaging strategies to monetize their recurring revenue streams, bill customers, calculate prorations when subscriptions change, and automate billing and payment operations; Zuora Revenue, a revenue recognition and automation solution that accounting teams use to manage their complex revenue streams; Zuora Payments to provide payment orchestration services for companies looking to operate globally; and Zephr, a digital subscriber experience platform that helps companies orchestrate dynamic experiences that increase conversion, reduce churn, and nurture ongoing subscriber relationships.