Zuora (ZUO) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Zuora (NYSE:ZUO) announced its quarterly earnings data on Thursday. The company reported ($0.10) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.03, Briefing.com reports. The company had revenue of $61.60 million for the quarter, compared to analysts’ expectations of $58.96 million. The company’s quarterly revenue was up 32.8% on a year-over-year basis.

NYSE ZUO opened at $20.56 on Friday. Zuora has a one year low of $16.00 and a one year high of $37.78. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.07.

Several research analysts recently commented on ZUO shares. Morgan Stanley cut their price target on shares of Zuora from $26.00 to $24.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 23rd. FBN Securities started coverage on shares of Zuora in a report on Tuesday, October 16th. They issued an “outperform” rating on the stock. Canaccord Genuity raised their price target on shares of Zuora from $26.00 to $28.00 and gave the company a “hold” rating in a report on Friday, August 31st. Jefferies Financial Group raised their price target on shares of Zuora to $35.00 and gave the company a “buy” rating in a report on Friday, August 31st. Finally, Needham & Company LLC raised their price target on shares of Zuora from $33.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, August 29th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Zuora presently has a consensus rating of “Hold” and an average target price of $28.83.

In other news, major shareholder Steven M. Spurlock sold 37,819 shares of Zuora stock in a transaction that occurred on Wednesday, October 3rd. The shares were sold at an average price of $20.89, for a total transaction of $790,038.91. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Jennifer Pileggi sold 10,000 shares of Zuora stock in a transaction that occurred on Monday, October 8th. The shares were sold at an average price of $20.38, for a total transaction of $203,800.00. The disclosure for this sale can be found here. Insiders sold 579,238 shares of company stock worth $14,222,367 in the last 90 days.

Several hedge funds have recently added to or reduced their stakes in ZUO. Flagship Harbor Advisors LLC acquired a new stake in shares of Zuora during the second quarter worth approximately $133,000. Tower Research Capital LLC TRC acquired a new stake in shares of Zuora during the second quarter worth approximately $147,000. Creative Financial Designs Inc. ADV acquired a new stake in shares of Zuora during the third quarter worth approximately $261,000. Berman Capital Advisors LLC acquired a new stake in shares of Zuora during the third quarter worth approximately $272,000. Finally, Quantbot Technologies LP grew its position in shares of Zuora by 257.9% during the third quarter. Quantbot Technologies LP now owns 12,884 shares of the company’s stock worth $297,000 after buying an additional 9,284 shares in the last quarter. 13.59% of the stock is owned by institutional investors and hedge funds.

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Zuora Company Profile

Zuora, Inc 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 intelligent subscription management hub that automates the subscription order-to-cash process, including quoting, billing, collections, analytics, and revenue recognition.

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