Zuora’s (ZUO) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Zuora (NYSE:ZUO) in a report released on Thursday morning, Benzinga reports. They currently have a $15.00 price objective on the stock.

ZUO has been the subject of several other reports. Lake Street Capital upped their target price on Zuora from $12.00 to $13.00 and gave the stock a buy rating in a report on Thursday, May 23rd. Robert W. Baird raised their target price on shares of Zuora from $8.00 to $10.00 and gave the company a neutral rating in a research report on Tuesday, May 28th. Jefferies Financial Group upped their price target on shares of Zuora from $9.00 to $10.00 and gave the stock a hold rating in a research report on Thursday, May 23rd. Finally, Canaccord Genuity Group reissued a buy rating and set a $13.00 price objective on shares of Zuora in a report on Thursday, May 23rd. Two research 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 currently has a consensus rating of Moderate Buy and an average target price of $12.17.

Zuora Price Performance

ZUO stock opened at $9.63 on Thursday. The company has a current ratio of 2.56, a quick ratio of 2.56 and a debt-to-equity ratio of 2.60. Zuora has a 12 month low of $7.05 and a 12 month high of $11.80. The stock has a market cap of $1.41 billion, a PE ratio of -22.39 and a beta of 1.72. The company has a 50-day moving average price of $9.88 and a 200 day moving average price of $9.16.

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

Insiders Place Their Bets

In other news, CEO Tien Tzuo sold 239,198 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $9.44, for a total transaction of $2,258,029.12. Following the completion of the sale, the chief executive officer now owns 6,352 shares in the company, valued at approximately $59,962.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Zuora news, CRO Robert J. Traube sold 54,682 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $8.61, for a total transaction of $470,812.02. Following the transaction, the executive now owns 51,428 shares in the company, valued at approximately $442,795.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tien Tzuo sold 239,198 shares of Zuora stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $9.44, for a total transaction of $2,258,029.12. Following the sale, the chief executive officer now owns 6,352 shares of the company’s stock, valued at $59,962.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 481,854 shares of company stock valued at $4,393,048. 8.62% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zuora

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake 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 worth $157,434,000 after purchasing an additional 917,565 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Zuora by 13.0% during 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 acquiring an additional 429,705 shares during the period. Bares Capital Management Inc. boosted its holdings in shares of Zuora by 41.4% in the 1st quarter. Bares Capital Management Inc. now owns 1,746,292 shares of the company’s stock valued at $15,926,000 after acquiring an additional 511,292 shares during the last quarter. Scalar Gauge Management LLC acquired a new stake in shares of Zuora in the fourth quarter worth $12,620,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Zuora by 3.4% during the fourth 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. Hedge funds and other institutional investors own 83.02% of the company’s stock.

About Zuora

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.