Zuora’s (ZUO) Buy Rating Reaffirmed at Needham & Company LLC

Zuora (NYSE:ZUO)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $15.00 price target on the stock. Needham & Company LLC’s target price indicates a potential upside of 50.60% from the company’s previous close.

Several other research firms also recently issued reports on ZUO. Robert W. Baird lowered their price objective on Zuora from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, February 29th. Canaccord Genuity Group dropped their price target on shares of Zuora from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Finally, The Goldman Sachs Group raised shares of Zuora from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $10.00 to $12.00 in a research note on Tuesday, January 23rd.

Zuora Price Performance

Shares of Zuora stock traded down $0.06 during midday trading on Tuesday, hitting $9.96. 813,121 shares of the company traded hands, compared to its average volume of 1,527,681. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of -20.75 and a beta of 1.90. The company has a debt-to-equity ratio of 2.69, a quick ratio of 2.43 and a current ratio of 2.43. The firm’s fifty day moving average price is $8.85 and its 200-day moving average price is $8.61. Zuora has a 12 month low of $7.05 and a 12 month high of $12.12.

Zuora (NYSE:ZUO) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.10. Zuora had a negative net margin of 15.80% and a negative return on equity of 46.38%. The company had revenue of $110.67 million during the quarter, compared to the consensus estimate of $110.80 million. As a group, sell-side analysts forecast that Zuora will post -0.15 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Tien Tzuo sold 239,198 shares of the company’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $9.44, for a total value of $2,258,029.12. Following the sale, the chief executive officer now directly owns 6,352 shares of the company’s stock, valued at approximately $59,962.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Zuora news, CRO Robert J. Traube sold 54,682 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $8.61, for a total value of $470,812.02. Following the transaction, the executive now directly owns 51,428 shares of the company’s stock, valued at $442,795.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Tien Tzuo sold 239,198 shares of Zuora stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $9.44, for a total transaction of $2,258,029.12. Following the transaction, the chief executive officer now owns 6,352 shares of the company’s stock, valued at $59,962.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 481,854 shares of company stock worth $4,393,048. 9.25% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zuora

Several large investors have recently added to or reduced their stakes in ZUO. Asset Management One Co. Ltd. purchased a new stake in Zuora in the 3rd quarter valued at $189,000. Raymond James & Associates lifted its position in shares of Zuora by 20.7% during the third quarter. Raymond James & Associates now owns 79,683 shares of the company’s stock valued at $657,000 after purchasing an additional 13,659 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Zuora by 25.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,727 shares of the company’s stock worth $220,000 after purchasing an additional 5,420 shares during the last quarter. Mackenzie Financial Corp grew its position in Zuora by 57.2% in the 3rd quarter. Mackenzie Financial Corp now owns 69,943 shares of the company’s stock worth $539,000 after purchasing an additional 25,452 shares in the last quarter. Finally, Strs Ohio increased its stake in Zuora by 149.0% in the 3rd quarter. Strs Ohio now owns 37,100 shares of the company’s stock valued at $305,000 after buying an additional 22,200 shares during the last quarter. Institutional investors own 83.02% of the company’s stock.

About Zuora

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.