Zuora (NYSE:ZUO) Releases FY23 Earnings Guidance

Zuora (NYSE:ZUOGet Rating) updated its FY23 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $(0.19)-$(0.15) for the period, compared to the consensus estimate of ($0.05). The company issued revenue guidance of $402-406 million, compared to the consensus revenue estimate of $403.40 million.Zuora also updated its FY 2023 guidance to -$0.19–$0.15 EPS.

Several brokerages have recently issued reports on ZUO. Canaccord Genuity Group decreased their target price on shares of Zuora from $27.00 to $23.00 and set a buy rating on the stock in a research report on Thursday, March 3rd. Zacks Investment Research upgraded Zuora from a sell rating to a hold rating in a research report on Wednesday, May 4th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Zuora currently has a consensus rating of Buy and a consensus price target of $22.71.

Shares of NYSE ZUO traded up $0.47 during midday trading on Wednesday, hitting $9.54. The company’s stock had a trading volume of 2,252,827 shares, compared to its average volume of 1,219,562. The business’s 50 day moving average is $12.80 and its two-hundred day moving average is $15.87. Zuora has a 12-month low of $8.92 and a 12-month high of $23.25. The firm has a market cap of $1.22 billion, a P/E ratio of -11.93 and a beta of 2.12.

Zuora (NYSE:ZUOGet Rating) last issued its quarterly earnings results on Wednesday, March 2nd. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.02). The business had revenue of $90.69 million during the quarter, compared to analysts’ expectations of $90.28 million. Zuora had a negative return on equity of 47.82% and a negative net margin of 28.67%. During the same quarter in the previous year, the company posted ($0.15) earnings per share. As a group, research analysts expect that Zuora will post -0.77 EPS for the current year.

In related news, CFO Todd Mcelhatton sold 4,700 shares of Zuora stock in a transaction dated Monday, April 11th. The stock was sold at an average price of $13.59, for a total value of $63,873.00. Following the completion of the sale, the chief financial officer now directly owns 58,363 shares in the company, valued at $793,153.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Robert J. Traube sold 12,109 shares of Zuora stock in a transaction that occurred on Tuesday, April 12th. The shares were sold at an average price of $13.97, for a total transaction of $169,162.73. Following the transaction, the executive now directly owns 27,078 shares in the company, valued at $378,279.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,206 shares of company stock worth $830,044. Company insiders own 9.08% of the company’s stock.

A number of hedge funds have recently modified their holdings of ZUO. Sei Investments Co. boosted its position in Zuora by 1.3% during the fourth quarter. Sei Investments Co. now owns 65,655 shares of the company’s stock valued at $1,229,000 after purchasing an additional 871 shares in the last quarter. Legal & General Group Plc lifted its position in Zuora by 1.3% during the fourth quarter. Legal & General Group Plc now owns 74,010 shares of the company’s stock valued at $1,383,000 after acquiring an additional 980 shares during the last quarter. Hsbc Holdings PLC lifted its position in Zuora by 5.9% during the first quarter. Hsbc Holdings PLC now owns 26,146 shares of the company’s stock valued at $396,000 after acquiring an additional 1,447 shares during the last quarter. Royal Bank of Canada lifted its position in Zuora by 24.3% during the third quarter. Royal Bank of Canada now owns 12,287 shares of the company’s stock valued at $204,000 after acquiring an additional 2,402 shares during the last quarter. Finally, Invesco Ltd. increased its position in Zuora by 5.6% during the 1st quarter. Invesco Ltd. now owns 67,373 shares of the company’s stock valued at $1,009,000 after buying an additional 3,583 shares in the last quarter. 83.85% of the stock is currently owned by institutional investors.

About Zuora (Get Rating)

Zuora, Inc, together with its subsidiaries, provides cloud-based software on a subscription basis that enables companies in various industries to launch, manage, and transform into a subscription business. The company offers Zuora Central platform that acts as an orchestration engine that allows customers quote-to-revenue operations.

Featured Articles

Earnings History and Estimates for Zuora (NYSE:ZUO)

Receive News & Ratings for Zuora Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zuora and related companies with MarketBeat.com's FREE daily email newsletter.