Analysts Set Zuora, Inc. (NYSE:ZUO) Target Price at $22.67

Shares of Zuora, Inc. (NYSE:ZUO) have received an average rating of “Buy” from the seven ratings firms that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $22.67.

A number of equities analysts have issued reports on ZUO shares. Morgan Stanley upgraded Zuora from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $13.00 to $18.00 in a research note on Friday, October 1st. Canaccord Genuity lifted their price target on Zuora from $23.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, October 26th. Craig Hallum started coverage on Zuora in a research note on Thursday, September 30th. They set a “buy” rating and a $24.00 price target for the company. Needham & Company LLC upgraded Zuora from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Monday, October 11th. Finally, Zacks Investment Research downgraded Zuora from a “buy” rating to a “hold” rating in a research note on Friday, November 12th.

Shares of ZUO traded up $0.23 during trading hours on Friday, hitting $20.14. The stock had a trading volume of 762,951 shares, compared to its average volume of 1,085,285. The firm has a 50 day simple moving average of $19.59 and a 200-day simple moving average of $17.51. The firm has a market capitalization of $2.51 billion, a P/E ratio of -31.47 and a beta of 2.19. Zuora has a 1-year low of $11.15 and a 1-year high of $23.25.

Zuora (NYSE:ZUO) last issued its earnings results on Tuesday, August 24th. The company reported ($0.04) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.04). The company had revenue of $86.50 million during the quarter, compared to the consensus estimate of $83.41 million. Zuora had a negative return on equity of 41.89% and a negative net margin of 23.79%. Zuora’s quarterly revenue was up 15.3% on a year-over-year basis. On average, research analysts forecast that Zuora will post -0.57 EPS for the current fiscal year.

In related news, CEO Tien Tzuo sold 39,900 shares of Zuora stock in a transaction that occurred on Monday, October 18th. The shares were sold at an average price of $20.05, for a total value of $799,995.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Jennifer Pileggi sold 114,008 shares of Zuora stock in a transaction that occurred on Monday, August 30th. The stock was sold at an average price of $16.92, for a total transaction of $1,929,015.36. Following the completion of the sale, the senior vice president now directly owns 26,624 shares in the company, valued at approximately $450,478.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 320,343 shares of company stock worth $5,545,532. Insiders own 12.58% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. First Mercantile Trust Co. raised its holdings in Zuora by 19.8% during the 3rd quarter. First Mercantile Trust Co. now owns 9,541 shares of the company’s stock valued at $158,000 after acquiring an additional 1,574 shares during the period. American International Group Inc. grew its position in shares of Zuora by 3.8% during the 3rd quarter. American International Group Inc. now owns 61,023 shares of the company’s stock valued at $1,012,000 after purchasing an additional 2,228 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Zuora by 5.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 7,875,296 shares of the company’s stock valued at $130,572,000 after purchasing an additional 400,260 shares in the last quarter. Centiva Capital LP purchased a new position in shares of Zuora during the 3rd quarter valued at $186,000. Finally, Cetera Investment Advisers purchased a new position in shares of Zuora during the 3rd quarter valued at $1,061,000. 63.15% of the stock is currently owned by institutional investors and hedge funds.

Zuora Company Profile

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.

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Analyst Recommendations for Zuora (NYSE:ZUO)

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