Zuora (NYSE:ZUO) Releases FY 2023 Earnings Guidance

Zuora (NYSE:ZUOGet Rating) issued an update on its FY 2023 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of -$0.19–$0.15 for the period, compared to the consensus estimate of -$0.06. The company issued revenue guidance of $402.00 million-$406.00 million, compared to the consensus revenue estimate of $403.08 million.Zuora also updated its Q2 2023 guidance to -$0.06–$0.05 EPS.

NYSE:ZUO opened at $10.14 on Wednesday. The company has a market cap of $1.30 billion, a PE ratio of -12.22 and a beta of 2.12. Zuora has a 52-week low of $8.50 and a 52-week high of $23.25. The stock has a 50-day simple moving average of $12.43 and a 200 day simple moving average of $15.48.

Zuora (NYSE:ZUOGet Rating) last posted its quarterly earnings results on Wednesday, May 25th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.07). The company had revenue of $93.20 million during the quarter, compared to the consensus estimate of $92.24 million. Zuora had a negative net margin of 29.18% and a negative return on equity of 53.36%. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.13) earnings per share. On average, research analysts anticipate that Zuora will post -0.84 EPS for the current year.

ZUO has been the subject of a number of analyst reports. Craig Hallum decreased their price target on Zuora to $22.00 in a research note on Thursday, May 26th. Canaccord Genuity Group decreased their price target on Zuora from $27.00 to $23.00 and set a buy rating for the company in a research note on Thursday, March 3rd. Finally, Zacks Investment Research downgraded Zuora from a hold rating to a sell rating in a research note on Thursday, May 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and an average target price of $22.43.

In related news, CEO Tien Tzuo sold 10,000 shares of Zuora stock in a transaction that occurred on Thursday, March 17th. The stock was sold at an average price of $15.00, for a total transaction of $150,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Todd Mcelhatton sold 4,700 shares of Zuora stock in a transaction that occurred on Monday, April 11th. The stock was sold at an average price of $13.59, for a total value of $63,873.00. Following the sale, the chief financial officer now directly owns 58,363 shares of the company’s stock, valued at $793,153.17. The disclosure for this sale can be found here. Insiders have sold a total of 57,206 shares of company stock valued at $830,044 over the last quarter. 9.08% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System raised its holdings in Zuora by 2.5% in the 4th quarter. California State Teachers Retirement System now owns 155,002 shares of the company’s stock valued at $2,895,000 after acquiring an additional 3,716 shares in the last quarter. Neo Ivy Capital Management acquired a new position in Zuora in the 4th quarter valued at $84,000. Parametric Portfolio Associates LLC raised its holdings in Zuora by 14.5% in the 4th quarter. Parametric Portfolio Associates LLC now owns 300,830 shares of the company’s stock valued at $5,620,000 after acquiring an additional 38,012 shares in the last quarter. Sei Investments Co. raised its holdings in Zuora by 1.3% in the 4th quarter. Sei Investments Co. now owns 65,655 shares of the company’s stock valued at $1,229,000 after acquiring an additional 871 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in Zuora by 1.3% in the 4th quarter. Legal & General Group Plc now owns 74,010 shares of the company’s stock valued at $1,383,000 after acquiring an additional 980 shares in the last quarter. 83.85% of the stock is owned by hedge funds and other institutional investors.

About Zuora (Get Rating)

Zuora, Inc, together with its subsidiaries, 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 orchestration engine that allows customers quote-to-revenue operations.

See Also

Earnings History and Estimates for Zuora (NYSE:ZUO)

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