Zuora (NYSE:ZUO) Rating Reiterated by Canaccord Genuity Group

Zuora (NYSE:ZUO)‘s stock had its “buy” rating restated by equities researchers at Canaccord Genuity Group in a research report issued on Thursday, Benzinga reports. They presently have a $13.00 price target on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 53.12% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Needham & Company LLC reissued a “buy” rating and issued a $15.00 target price on shares of Zuora in a report on Thursday. Robert W. Baird lifted their price objective on Zuora from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Jefferies Financial Group upped their target price on shares of Zuora from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Thursday, May 23rd. Lake Street Capital lifted their price target on shares of Zuora from $12.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Finally, Craig Hallum cut shares of Zuora from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $12.00 to $10.00 in a research note on Monday, July 8th. Three 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, Zuora presently has an average rating of “Moderate Buy” and an average target price of $11.86.

Zuora Stock Performance

Zuora stock traded down $0.01 on Thursday, hitting $8.49. The company’s stock had a trading volume of 5,135,842 shares, compared to its average volume of 1,393,670. Zuora has a one year low of $7.05 and a one year high of $10.85. The firm has a market cap of $1.24 billion, a P/E ratio of -19.74 and a beta of 1.71. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 2.60. The company has a fifty day moving average price of $9.11 and a 200-day moving average price of $9.19.

Zuora (NYSE:ZUO) last posted its quarterly earnings results on Wednesday, May 22nd. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.09. The firm had revenue of $109.77 million during 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%. On average, equities analysts anticipate that Zuora will post -0.16 earnings per share for the current year.

Insider Transactions at Zuora

In other news, insider Andrew M. Cohen sold 3,861 shares of the stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $8.71, for a total transaction of $33,629.31. Following the completion of the transaction, the insider now directly owns 148,640 shares in the company, valued at approximately $1,294,654.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Zuora news, insider Andrew M. Cohen sold 3,861 shares of the stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $8.71, for a total value of $33,629.31. Following the completion of the sale, the insider now owns 148,640 shares in the company, valued at $1,294,654.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Todd Mcelhatton sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $8.72, for a total value of $87,200.00. Following the completion of the sale, the chief financial officer now owns 310,622 shares in the company, valued at approximately $2,708,623.84. The disclosure for this sale can be found here. Insiders sold 372,666 shares of company stock valued at $3,408,961 over the last three months. Company insiders own 8.62% of the company’s stock.

Institutional Investors Weigh In On Zuora

Several hedge funds have recently bought and sold shares of ZUO. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Zuora by 4.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,966 shares of the company’s stock valued at $263,000 after acquiring an additional 1,239 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Zuora by 26.1% during the fourth quarter. Jennison Associates LLC now owns 87,030 shares of the company’s stock worth $818,000 after purchasing an additional 18,013 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Zuora by 25.5% during the fourth quarter. Victory Capital Management Inc. now owns 17,631 shares of the company’s stock valued at $166,000 after acquiring an additional 3,582 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Zuora by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,147,650 shares of the company’s stock valued at $10,788,000 after purchasing an additional 38,133 shares during the last quarter. Finally, Versor Investments LP grew its holdings in Zuora by 85.2% during the 4th quarter. Versor Investments LP now owns 25,210 shares of the company’s stock worth $237,000 after acquiring an additional 11,600 shares during the period. 83.02% of the stock is currently owned by institutional investors and hedge funds.

Zuora Company Profile

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.