Zuora (NYSE:ZUO) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of Zuora (NYSE:ZUO) from a hold rating to a buy rating in a research note issued to investors on Thursday morning, Zacks.com reports. They currently have $17.00 target price on the stock.

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. “

Other research analysts have also recently issued reports about the stock. Berenberg Bank started coverage on shares of Zuora in a research note on Thursday, April 8th. They issued a buy rating and a $20.00 target price on the stock. Jefferies Financial Group upped their price objective on Zuora from $13.00 to $17.00 in a research note on Wednesday, February 24th. Canaccord Genuity raised their target price on Zuora from $19.00 to $20.00 and gave the stock a buy rating in a research report on Tuesday, April 13th. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Zuora in a research report on Tuesday, April 13th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $16.58.

Shares of Zuora stock opened at $15.11 on Thursday. The stock’s fifty day simple moving average is $15.65. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.01. Zuora has a 12 month low of $9.15 and a 12 month high of $17.95. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of -24.37 and a beta of 2.16.

Zuora (NYSE:ZUO) last announced its earnings results on Tuesday, May 25th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.02. The firm had revenue of $80.33 million during the quarter, compared to analyst estimates of $79.00 million. Zuora had a negative return on equity of 41.49% and a negative net margin of 23.96%. On average, research analysts anticipate that Zuora will post -0.6 EPS for the current fiscal year.

In other news, SVP Jennifer Pileggi sold 16,668 shares of the firm’s stock in a transaction on Tuesday, March 16th. The stock was sold at an average price of $14.72, for a total value of $245,352.96. Following the completion of the transaction, the senior vice president now directly owns 36,763 shares of the company’s stock, valued at $541,151.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Robert J. Traube sold 4,380 shares of Zuora stock in a transaction on Thursday, April 1st. The shares were sold at an average price of $15.12, for a total value of $66,225.60. Insiders sold a total of 81,168 shares of company stock valued at $1,294,807 over the last quarter. 12.58% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Banque Cantonale Vaudoise boosted its position in shares of Zuora by 122.2% in the fourth quarter. Banque Cantonale Vaudoise now owns 2,000 shares of the company’s stock valued at $28,000 after acquiring an additional 1,100 shares during the period. Acadian Asset Management LLC bought a new position in Zuora in the 1st quarter valued at $28,000. Marshall Wace North America L.P. purchased a new position in shares of Zuora during the 1st quarter valued at $62,000. First Mercantile Trust Co. bought a new position in shares of Zuora in the first quarter worth $85,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Zuora in the first quarter worth $141,000. Hedge funds and other institutional investors own 60.80% of the company’s stock.

Zuora Company Profile

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 intelligent subscription management hub that allows customers to order-to-revenue operations.

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