Shares of Zuora Inc (NYSE:ZUO) dropped 3.4% during mid-day trading on Monday after ValuEngine downgraded the stock from a buy rating to a hold rating. The stock traded as low as $13.35 and last traded at $13.51. Approximately 75,905 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 2,495,635 shares. The stock had previously closed at $13.99.

Other analysts have also issued reports about the stock. Goldman Sachs Group reiterated a “sell” rating and set a $18.00 price target on shares of Zuora in a research note on Friday, February 1st. Needham & Company LLC boosted their price target on shares of Zuora from $27.00 to $30.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, March 20th. Canaccord Genuity upgraded shares of Zuora from a “hold” rating to a “buy” rating and boosted their price target for the stock from $23.00 to $28.00 in a research note on Tuesday, March 19th. Zacks Investment Research upgraded shares of Zuora from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Thursday, March 28th. Finally, Morgan Stanley cut their price target on shares of Zuora from $22.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Friday. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $19.43.

In other news, SVP Jennifer Pileggi sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $19.76, for a total transaction of $197,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Marc Diouane sold 240,000 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $22.19, for a total value of $5,325,600.00. The disclosure for this sale can be found here. Insiders have sold 971,156 shares of company stock worth $19,891,269 over the last quarter. Insiders own 26.02% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA grew its position in shares of Zuora by 73.9% during the first quarter. BNP Paribas Arbitrage SA now owns 1,518 shares of the company’s stock worth $30,000 after buying an additional 645 shares in the last quarter. Virtu Financial LLC grew its position in shares of Zuora by 7.8% during the first quarter. Virtu Financial LLC now owns 12,047 shares of the company’s stock worth $241,000 after buying an additional 872 shares in the last quarter. Advisory Services Network LLC grew its position in shares of Zuora by 158.5% during the fourth quarter. Advisory Services Network LLC now owns 1,680 shares of the company’s stock worth $30,000 after buying an additional 1,030 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Zuora by 6.9% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 21,671 shares of the company’s stock worth $434,000 after buying an additional 1,402 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of Zuora during the first quarter worth about $29,000. 37.84% of the stock is owned by institutional investors and hedge funds.

The stock has a market capitalization of $1.55 billion, a P/E ratio of -16.17 and a beta of 2.02. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.86 and a quick ratio of 1.86.

Zuora (NYSE:ZUO) last announced its quarterly earnings data on Thursday, May 30th. The company reported ($0.18) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.01). Zuora had a negative return on equity of 48.86% and a negative net margin of 31.80%. The company had revenue of $64.11 million for the quarter, compared to analyst estimates of $64.13 million. During the same period in the prior year, the firm posted ($0.29) earnings per share. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. Research analysts anticipate that Zuora Inc will post -0.55 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Zuora (ZUO) Trading Down 3.4% After Analyst Downgrade” was originally published by Watch List News and is owned by of Watch List News. If you are accessing this news story on another publication, it was illegally stolen and republished in violation of international trademark & copyright law. The correct version of this news story can be read at https://www.watchlistnews.com/zuora-zuo-trading-down-3-4-after-analyst-downgrade/3030649.html.

About Zuora (NYSE:ZUO)

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.

Featured Article: Commodities

Receive News & Ratings for Zuora Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zuora and related companies with MarketBeat.com's FREE daily email newsletter.