Needham & Company LLC Reiterates “Buy” Rating for Zuora (NYSE:ZUO)

Zuora (NYSE:ZUO)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a research report issued on Tuesday, Benzinga reports. They presently have a $15.00 price objective on the stock. Needham & Company LLC’s target price suggests a potential upside of 51.36% from the stock’s previous close.

Several other analysts have also recently commented on the company. Robert W. Baird reduced their price target on Zuora from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, February 29th. Canaccord Genuity Group reduced their target price on Zuora from $16.00 to $13.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Finally, The Goldman Sachs Group raised shares of Zuora from a “neutral” rating to a “buy” rating and upped their price target for the stock from $10.00 to $12.00 in a research note on Tuesday, January 23rd.

Zuora Stock Performance

NYSE ZUO opened at $9.91 on Tuesday. The firm has a market cap of $1.45 billion, a P/E ratio of -20.65 and a beta of 1.90. Zuora has a 52-week low of $7.05 and a 52-week high of $12.12. The business’s 50-day moving average price is $8.93 and its 200 day moving average price is $8.64. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 2.69.

Zuora (NYSE:ZUO) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.10. The company had revenue of $110.67 million during the quarter, compared to analysts’ expectations of $110.80 million. Zuora had a negative return on equity of 46.38% and a negative net margin of 15.80%. On average, equities research analysts expect that Zuora will post -0.15 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Andrew M. Cohen sold 13,319 shares of the stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $10.00, for a total transaction of $133,190.00. Following the transaction, the insider now directly owns 120,785 shares in the company, valued at $1,207,850. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Zuora news, insider Andrew M. Cohen sold 3,794 shares of the business’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $8.29, for a total transaction of $31,452.26. Following the completion of the sale, the insider now owns 134,104 shares of the company’s stock, valued at $1,111,722.16. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Andrew M. Cohen sold 13,319 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $10.00, for a total value of $133,190.00. Following the completion of the transaction, the insider now owns 120,785 shares in the company, valued at $1,207,850. The disclosure for this sale can be found here. In the last three months, insiders sold 481,854 shares of company stock valued at $4,393,048. Company insiders own 9.25% of the company’s stock.

Hedge Funds Weigh In On Zuora

Several hedge funds and other institutional investors have recently made changes to their positions in ZUO. Allspring Global Investments Holdings LLC acquired a new position in Zuora during the 3rd quarter worth approximately $25,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Zuora during the third quarter valued at approximately $25,000. Sherbrooke Park Advisers LLC acquired a new position in shares of Zuora during the third quarter worth $88,000. MQS Management LLC purchased a new position in shares of Zuora in the third quarter valued at $129,000. Finally, Cornerstone Investment Partners LLC purchased a new position in shares of Zuora in the fourth quarter valued at $166,000. Institutional investors and hedge funds 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.