Zuora (NYSE:ZUO) Shares Gap Down to $10.02

Zuora, Inc. (NYSE:ZUO)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $10.02, but opened at $9.50. Zuora shares last traded at $9.93, with a volume of 365,214 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ZUO shares. Robert W. Baird lowered their price target on shares of Zuora from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, February 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 target price on shares of Zuora in a report on Tuesday. The Goldman Sachs Group raised Zuora from a “neutral” rating to a “buy” rating and lifted their price target for the company from $10.00 to $12.00 in a research note on Tuesday, January 23rd. Finally, Canaccord Genuity Group lowered their price objective on Zuora from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, February 29th.

Zuora Stock Performance

The company has a fifty day simple moving average of $8.93 and a 200 day simple moving average of $8.64. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 2.69.

Zuora (NYSE:ZUO) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.10. Zuora had a negative return on equity of 46.38% and a negative net margin of 15.80%. The company had revenue of $110.67 million for the quarter, compared to analyst estimates of $110.80 million. On average, equities research analysts forecast that Zuora, Inc. will post -0.15 EPS for the current year.

Insider Transactions at Zuora

In other Zuora news, CEO Tien Tzuo sold 239,198 shares of the stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $9.44, for a total transaction of $2,258,029.12. Following the completion of the sale, the chief executive officer now directly owns 6,352 shares in the company, valued at approximately $59,962.88. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Andrew M. Cohen sold 3,794 shares of the stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $8.29, for a total transaction of $31,452.26. Following the transaction, the insider now directly owns 134,104 shares of the company’s stock, valued at $1,111,722.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Tien Tzuo sold 239,198 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $9.44, for a total value of $2,258,029.12. Following the transaction, the chief executive officer now directly owns 6,352 shares in the company, valued at $59,962.88. The disclosure for this sale can be found here. Insiders sold a total of 481,854 shares of company stock worth $4,393,048 over the last three months. 9.25% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ZUO. Allspring Global Investments Holdings LLC bought a new position in shares of Zuora during the 3rd quarter worth $25,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Zuora in the third quarter worth about $25,000. Sherbrooke Park Advisers LLC bought a new stake in shares of Zuora in the third quarter valued at approximately $88,000. MQS Management LLC purchased a new stake in shares of Zuora during the 3rd quarter valued at approximately $129,000. Finally, Cornerstone Investment Partners LLC purchased a new stake in shares of Zuora during the 4th quarter valued at approximately $166,000. 83.02% of the stock is owned by institutional investors.

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.