Zuora (NYSE:ZUO) Stock Rating Reaffirmed by Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of Zuora (NYSE:ZUO) in a report issued on Thursday, Benzinga reports. The brokerage currently has a $13.00 price objective on the stock.

Several other equities analysts have also weighed in on ZUO. Lake Street Capital increased their target price on Zuora from $12.00 to $13.00 and gave the company a buy rating in a research note on Thursday. Needham & Company LLC reissued a buy rating and issued a $15.00 target price on shares of Zuora in a research note on Thursday. Robert W. Baird cut their target price on Zuora from $10.00 to $8.00 and set a neutral rating on the stock in a research note on Thursday, February 29th. Finally, 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. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Zuora has an average rating of Moderate Buy and an average target price of $11.83.

Zuora Trading Down 2.3 %

Shares of ZUO opened at $9.97 on Thursday. 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 has a 12-month low of $7.05 and a 12-month high of $12.12. The firm has a market capitalization of $1.46 billion, a PE ratio of -23.19 and a beta of 1.84. The stock’s fifty day simple moving average is $9.47 and its 200-day simple moving average is $8.95.

Zuora (NYSE:ZUO) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.10. Zuora had a negative return on equity of 31.10% and a negative net margin of 14.28%. The business had revenue of $110.67 million for the quarter, compared to analyst estimates of $110.80 million. As a group, research analysts predict that Zuora will post -0.14 earnings per share for the current year.

Insider Transactions at Zuora

In related news, CFO Todd Mcelhatton sold 31,006 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $8.61, for a total transaction of $266,961.66. Following the completion of the transaction, the chief financial officer now directly owns 277,803 shares in the company, valued at $2,391,883.83. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Todd Mcelhatton sold 31,006 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $8.61, for a total transaction of $266,961.66. Following the completion of the transaction, the chief financial officer now directly owns 277,803 shares in the company, valued at $2,391,883.83. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 value of $133,190.00. Following the transaction, the insider now owns 120,785 shares of the company’s stock, valued at $1,207,850. The disclosure for this sale can be found here. Insiders have sold a total of 481,854 shares of company stock valued at $4,393,048 over the last 90 days. 8.62% of the stock is owned by company insiders.

Institutional Trading of Zuora

A number of hedge funds have recently made changes to their positions in the business. Bares Capital Management Inc. lifted its position in shares of Zuora by 41.4% in the first quarter. Bares Capital Management Inc. now owns 1,746,292 shares of the company’s stock valued at $15,926,000 after buying an additional 511,292 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Zuora by 7.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 67,806 shares of the company’s stock worth $619,000 after purchasing an additional 4,760 shares during the last quarter. EntryPoint Capital LLC lifted its holdings in Zuora by 1,629.8% during the 1st quarter. EntryPoint Capital LLC now owns 21,588 shares of the company’s stock worth $197,000 after purchasing an additional 20,340 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in Zuora by 33.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 740,986 shares of the company’s stock worth $6,759,000 after purchasing an additional 186,329 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Zuora by 5.6% during the 1st 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. 83.02% of the stock is owned by institutional investors and hedge funds.

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.