Zuora (NYSE:ZUO) Shares Gap Up on Analyst Upgrade

Zuora, Inc. (NYSE:ZUO – Get Rating) gapped up before the market opened on Thursday after Lake Street Capital raised their price target on the stock from $11.00 to $12.00. The stock had previously closed at $8.51, but opened at $10.00. Zuora shares last traded at $10.14, with a volume of 1,133,375 shares trading hands.

A number of other research firms have also commented on ZUO. Canaccord Genuity Group lifted their price objective on Zuora from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, March 3rd. Jefferies Financial Group lifted their price objective on Zuora to $10.00 in a research note on Wednesday, March 15th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price objective on shares of Zuora in a research note on Thursday, March 2nd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Zuora presently has an average rating of “Moderate Buy” and a consensus price target of $13.38.

Insider Activity at Zuora

In related news, CEO Tien Tzuo sold 12,500 shares of the business’s stock in a transaction dated Friday, March 31st. The stock was sold at an average price of $9.64, for a total transaction of $120,500.00. Following the transaction, the chief executive officer now directly owns 6,352 shares in the company, valued at $61,233.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Zuora news, CFO Todd Mcelhatton sold 17,905 shares of Zuora stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $9.34, for a total transaction of $167,232.70. Following the sale, the chief financial officer now directly owns 143,275 shares of the company’s stock, valued at $1,338,188.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Tien Tzuo sold 12,500 shares of Zuora stock in a transaction that occurred on Friday, March 31st. The shares were sold at an average price of $9.64, for a total value of $120,500.00. Following the sale, the chief executive officer now directly owns 6,352 shares in the company, valued at $61,233.28. The disclosure for this sale can be found here. Insiders have sold 86,606 shares of company stock worth $803,526 over the last three months. Company insiders own 9.25% of the company’s stock.

Institutional Investors Weigh In On Zuora

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Zuora by 4.7% during the third quarter. Vanguard Group Inc. now owns 12,181,022 shares of the company’s stock valued at $89,895,000 after purchasing an additional 546,378 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Zuora by 1.5% in the 1st quarter. BlackRock Inc. now owns 10,687,463 shares of the company’s stock worth $105,592,000 after acquiring an additional 156,550 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Zuora by 21.1% in the 1st quarter. Bank of New York Mellon Corp now owns 7,034,951 shares of the company’s stock worth $69,505,000 after acquiring an additional 1,225,569 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in shares of Zuora by 4.8% in the 4th quarter. Baillie Gifford & Co. now owns 5,118,254 shares of the company’s stock worth $32,552,000 after acquiring an additional 233,022 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Zuora by 14.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,641,736 shares of the company’s stock worth $23,161,000 after acquiring an additional 467,201 shares in the last quarter. 69.11% of the stock is owned by institutional investors and hedge funds.

Zuora Stock Up 19.9 %

The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of -10.97 and a beta of 1.83. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 2.17. The firm has a fifty day moving average price of $8.63 and a 200 day moving average price of $7.96.

Zuora (NYSE:ZUO – Get Rating) last announced its earnings results on Wednesday, March 1st. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.11. The business had revenue of $103.04 million for the quarter, compared to the consensus estimate of $99.70 million. Zuora had a negative return on equity of 68.59% and a negative net margin of 30.79%. Sell-side analysts anticipate that Zuora, Inc. will post -0.64 EPS for the current fiscal year.

About Zuora

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Zuora, Inc engages in the provision of cloud-based subscription management platform. Its products include Zuora Billing, Zuora Revenue, Zuora CPQ, Zuora Collect AI, and Zuora Analytics. It offers solutions to software, healthcare, education, B2C, and communications industries. The company was founded in 2007 by K.V.