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

Zuora (NYSE:ZUO)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a report issued on Thursday, Benzinga reports. They currently have a $15.00 price objective on the stock. Needham & Company LLC’s target price suggests a potential upside of 51.06% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Lake Street Capital lifted their price objective on shares of Zuora from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Robert W. Baird upped their target price on shares of Zuora from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Jefferies Financial Group boosted their price target on shares of Zuora from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Thursday, May 23rd. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $13.00 price target on shares of Zuora in a research note on Thursday, May 23rd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.17.

Zuora Stock Performance

NYSE ZUO opened at $9.93 on Thursday. The stock’s 50 day simple moving average is $9.90 and its 200-day simple moving average is $9.17. The company has a debt-to-equity ratio of 2.60, a current ratio of 2.56 and a quick ratio of 2.56. The company has a market cap of $1.45 billion, a PE ratio of -23.09 and a beta of 1.72. Zuora has a 1-year low of $7.05 and a 1-year high of $11.80.

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

Insider Transactions at Zuora

In related news, CRO Robert J. Traube sold 11,294 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $10.00, for a total transaction of $112,940.00. Following the transaction, the executive now directly owns 17,547 shares of the company’s stock, valued at $175,470. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Zuora news, insider Andrew M. Cohen sold 3,794 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $8.29, for a total value of $31,452.26. Following the completion of the sale, the insider now directly owns 134,104 shares of the company’s stock, valued at $1,111,722.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Robert J. Traube sold 11,294 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $10.00, for a total transaction of $112,940.00. Following the completion of the sale, the executive now directly owns 17,547 shares of the company’s stock, valued at $175,470. 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 ninety days. Corporate insiders own 8.62% of the company’s stock.

Institutional Trading of Zuora

A number of institutional investors and hedge funds have recently modified their holdings of ZUO. Charles Schwab Investment Management Inc. lifted its stake in shares of Zuora by 6.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,109,517 shares of the company’s stock worth $9,142,000 after buying an additional 71,782 shares during the last quarter. Deutsche Bank AG raised its stake in Zuora by 13.2% during the 3rd quarter. Deutsche Bank AG now owns 64,787 shares of the company’s stock valued at $534,000 after purchasing an additional 7,536 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Zuora during the 3rd quarter valued at $25,000. Hsbc Holdings PLC raised its stake in Zuora by 171.8% during the 3rd quarter. Hsbc Holdings PLC now owns 99,115 shares of the company’s stock valued at $814,000 after purchasing an additional 62,643 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in Zuora by 6.2% during the 3rd quarter. Federated Hermes Inc. now owns 29,762 shares of the company’s stock valued at $245,000 after purchasing an additional 1,729 shares during the last quarter. 83.02% of the stock is currently 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.