Zuora (NYSE:ZUO) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research lowered shares of Zuora (NYSE:ZUOGet Rating) from a hold rating to a sell rating in a report released on Thursday morning, Zacks.com reports.

According to Zacks, “Zuora, Inc. provides cloud-based software on a subscription basis. The company’s product portfolio includes Zuora Billing, Zuora RevPro, Zuora CPQ, Zuora Insights and Zuora Collect. Its platform offers Zuora Central. Zuora, Inc. is headquartered in San Mateo, California. “

Separately, Canaccord Genuity Group lowered their price target on Zuora from $27.00 to $23.00 and set a buy rating on the stock in a research report on Thursday, March 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus price target of $22.43.

Shares of ZUO opened at $9.84 on Thursday. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of -12.30 and a beta of 2.12. The business’s 50 day moving average is $12.70 and its two-hundred day moving average is $15.78. Zuora has a 52-week low of $8.50 and a 52-week high of $23.25.

Zuora (NYSE:ZUOGet Rating) last posted its earnings results on Wednesday, May 25th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). Zuora had a negative net margin of 28.67% and a negative return on equity of 47.82%. The company had revenue of $93.20 million during the quarter, compared to the consensus estimate of $92.24 million. During the same quarter in the previous year, the business posted ($0.13) earnings per share. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. On average, analysts anticipate that Zuora will post -0.77 earnings per share for the current year.

In other Zuora news, CRO Robert J. Traube sold 11,069 shares of the company’s stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $14.63, for a total transaction of $161,939.47. Following the sale, the executive now directly owns 39,187 shares of the company’s stock, valued at $573,305.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sri Srinivasan sold 4,366 shares of Zuora stock in a transaction that occurred 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 completion of the transaction, the insider now owns 22,232 shares of the company’s stock, valued at approximately $325,254.16. The disclosure for this sale can be found here. Insiders sold 57,206 shares of company stock worth $830,044 over the last quarter. Company insiders own 9.08% of the company’s stock.

Large investors have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System lifted its position in Zuora by 3.2% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 20,293 shares of the company’s stock worth $379,000 after buying an additional 625 shares in the last quarter. Taylor Frigon Capital Management LLC grew its stake in shares of Zuora by 0.3% during the first quarter. Taylor Frigon Capital Management LLC now owns 324,446 shares of the company’s stock valued at $4,860,000 after purchasing an additional 850 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Zuora by 1.3% in 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. Arizona State Retirement System raised its position in Zuora by 3.0% in the 3rd quarter. Arizona State Retirement System now owns 30,305 shares of the company’s stock worth $502,000 after purchasing an additional 893 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in Zuora by 1.3% during the 4th quarter. Legal & General Group Plc now owns 74,010 shares of the company’s stock worth $1,383,000 after buying an additional 980 shares in the last quarter. Institutional investors own 83.85% of the company’s stock.

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.

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