Zuora (NYSE:ZUO) Releases Q2 Earnings Guidance

Zuora (NYSE:ZUOGet Rating) updated its second quarter earnings guidance on Wednesday. The company provided EPS guidance of $(0.06)-$(0.05) for the period, compared to the consensus EPS estimate of ($0.02). The company issued revenue guidance of $96.5-98.5 million, compared to the consensus revenue estimate of $99.45 million.Zuora also updated its FY 2023 guidance to -$0.19–$0.15 EPS.

A number of brokerages recently issued reports on ZUO. Canaccord Genuity Group lowered their target price on shares of Zuora from $27.00 to $23.00 and set a buy rating for the company in a research note on Thursday, March 3rd. Zacks Investment Research raised 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. According to MarketBeat.com, the stock currently has a consensus rating of Buy and an average target price of $22.71.

Shares of NYSE:ZUO traded up $0.47 during trading on Wednesday, reaching $9.54. 2,252,827 shares of the stock were exchanged, compared to its average volume of 1,219,562. 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 price-to-earnings ratio of -11.93 and a beta of 2.12. The firm’s 50-day moving average price is $12.80 and its 200 day moving average price is $15.87.

Zuora (NYSE:ZUOGet Rating) last issued its earnings results on Wednesday, March 2nd. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). The firm had revenue of $90.69 million for 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 firm posted ($0.15) EPS. On average, analysts expect that Zuora will post -0.77 earnings per share for the current fiscal year.

In related news, CEO Tien Tzuo sold 5,000 shares of the firm’s stock in a transaction on Friday, April 1st. The shares were sold at an average price of $15.09, for a total transaction of $75,450.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sri Srinivasan sold 4,366 shares of the firm’s stock in a transaction on Friday, April 1st. The shares were sold at an average price of $14.63, for a total transaction of $63,874.58. Following the sale, the insider now directly owns 22,232 shares of the company’s stock, valued at $325,254.16. The disclosure for this sale can be found here. Insiders have sold a total of 57,206 shares of company stock worth $830,044 in the last 90 days. Company insiders own 9.08% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of ZUO. Neo Ivy Capital Management acquired a new stake in Zuora in the fourth quarter valued at $84,000. Ensign Peak Advisors Inc increased its holdings in Zuora by 61.6% in the first quarter. Ensign Peak Advisors Inc now owns 10,940 shares of the company’s stock valued at $164,000 after buying an additional 4,170 shares during the last quarter. Janus Henderson Group PLC bought a new stake in Zuora in the third quarter valued at about $181,000. Royal Bank of Canada increased its holdings in Zuora by 24.3% in the third quarter. Royal Bank of Canada now owns 12,287 shares of the company’s stock valued at $204,000 after buying an additional 2,402 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in Zuora in the first quarter valued at about $242,000. 83.85% of the stock is currently owned by hedge funds and other institutional investors.

Zuora Company Profile (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.

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Earnings History and Estimates for Zuora (NYSE:ZUO)

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