Zuora (ZUO) Trading Down 3.4% After Analyst Downgrade
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.
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.
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.
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