Zuora (NYSE:ZUO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday, Zacks.com reports. The brokerage currently has a $17.00 price objective on the stock. Zacks Investment Research‘s price target suggests a potential upside of 13.71% from the stock’s previous close.
According to Zacks, “Zuora, Inc. provides cloud-based software on a subscription basis. The company’s product portfolio includes Zuora Billing, Zuora RevPro, Zuora CPQ, Zuora Insights and Zuora Collect. Its platform offers Zuora Central. Zuora, Inc. is headquartered in San Mateo, California. “
ZUO has been the topic of a number of other reports. Berenberg Bank started coverage on Zuora in a report on Thursday, April 8th. They issued a “buy” rating and a $20.00 price objective on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Zuora in a report on Tuesday, April 13th. Jefferies Financial Group upped their price objective on Zuora from $13.00 to $17.00 in a report on Wednesday, February 24th. Finally, Canaccord Genuity upped their target price on Zuora from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, April 13th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Zuora has a consensus rating of “Buy” and an average target price of $16.58.
ZUO stock opened at $14.95 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.56 and a quick ratio of 1.56. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of -24.11 and a beta of 2.16. Zuora has a 1-year low of $9.15 and a 1-year high of $17.95. The business’s 50 day simple moving average is $15.65.
Zuora (NYSE:ZUO) last posted its earnings results on Tuesday, May 25th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. Zuora had a negative return on equity of 41.49% and a negative net margin of 23.96%. The business had revenue of $80.33 million for the quarter, compared to analyst estimates of $79.00 million. As a group, research analysts predict that Zuora will post -0.6 EPS for the current fiscal year.
In related news, SVP Jennifer Pileggi sold 2,454 shares of the company’s stock in a transaction on Thursday, April 1st. The stock was sold at an average price of $15.12, for a total transaction of $37,104.48. Also, CRO Robert J. Traube sold 4,380 shares of the company’s stock in a transaction on Thursday, April 1st. The stock was sold at an average price of $15.12, for a total value of $66,225.60. Over the last 90 days, insiders have sold 81,168 shares of company stock valued at $1,294,807. 12.58% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in ZUO. Banque Cantonale Vaudoise raised its position in Zuora by 122.2% in the fourth quarter. Banque Cantonale Vaudoise now owns 2,000 shares of the company’s stock valued at $28,000 after purchasing an additional 1,100 shares during the last quarter. Acadian Asset Management LLC bought a new position in Zuora in the first quarter valued at about $28,000. Marshall Wace North America L.P. bought a new position in Zuora in the first quarter valued at about $62,000. First Mercantile Trust Co. bought a new position in Zuora in the first quarter valued at about $85,000. Finally, DekaBank Deutsche Girozentrale bought a new position in Zuora in the first quarter valued at about $141,000. Institutional investors and hedge funds own 60.80% of the company’s stock.
Zuora, Inc, together with its subsidiaries, provides cloud-based software on a subscription basis that enables companies in various industries to launch, manage, and transform into a subscription business. The company offers Zuora Central platform that acts as an intelligent subscription management hub that allows customers to order-to-revenue operations.
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