Zuora (NYSE:ZUO) Stock Price Down 2.8%

Shares of Zuora, Inc. (NYSE:ZUO) dropped 2.8% on Monday . The company traded as low as $9.65 and last traded at $9.65. Approximately 57,969 shares changed hands during trading, a decline of 96% from the average daily volume of 1,437,055 shares. The stock had previously closed at $9.93.

Analysts Set New Price Targets

ZUO has been the subject of a number of analyst reports. Lake Street Capital raised their price objective on Zuora from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price objective on shares of Zuora in a research report on Thursday, June 27th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $13.00 price objective on shares of Zuora in a research report on Thursday, May 23rd. Jefferies Financial Group increased their target price on Zuora from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Thursday, May 23rd. Finally, Robert W. Baird increased their target price on Zuora from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Zuora presently has a consensus rating of “Moderate Buy” and an average price target of $12.17.

Zuora Trading Down 1.3 %

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 stock has a 50 day moving average price of $9.90 and a 200-day moving average price of $9.18.

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

Insider Transactions at Zuora

In other news, CEO Tien Tzuo sold 70,833 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $9.73, for a total value of $689,205.09. Following the transaction, the chief executive officer now directly owns 6,352 shares in the company, valued at approximately $61,804.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Todd Mcelhatton sold 10,000 shares of Zuora stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $8.35, for a total transaction of $83,500.00. Following the transaction, the chief financial officer now directly owns 267,803 shares in the company, valued at $2,236,155.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tien Tzuo sold 70,833 shares of Zuora stock in a transaction on Monday, July 1st. The shares were sold at an average price of $9.73, for a total value of $689,205.09. Following the transaction, the chief executive officer now owns 6,352 shares in the company, valued at $61,804.96. The disclosure for this sale can be found here. Insiders have sold a total of 371,025 shares of company stock worth $3,496,918 in the last ninety days. Insiders own 8.62% of the company’s stock.

Hedge Funds Weigh In On Zuora

Several institutional investors and hedge funds have recently bought and sold shares of ZUO. Vanguard Group Inc. raised its holdings in Zuora by 5.6% during the first quarter. Vanguard Group Inc. now owns 17,262,494 shares of the company’s stock valued at $157,434,000 after acquiring an additional 917,565 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Zuora by 13.0% during the fourth 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. raised its holdings in Zuora by 41.4% during the first 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 period. Scalar Gauge Management LLC bought a new stake in Zuora during the fourth quarter valued at about $12,620,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Zuora by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,147,650 shares of the company’s stock valued at $10,788,000 after acquiring an additional 38,133 shares during the period. 83.02% of the stock is currently owned by hedge funds and other institutional investors.

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.