Zuora (NYSE:ZUO) Shares Gap Up on Analyst Upgrade

Zuora, Inc. (NYSE:ZUO – Get Rating) gapped up prior to trading on Thursday after Lake Street Capital raised their price target on the stock from $11.00 to $12.00. The stock had previously closed at $8.51, but opened at $10.00. Zuora shares last traded at $10.14, with a volume of 1,133,375 shares.

A number of other equities analysts have also weighed in on ZUO. Canaccord Genuity Group upped their target price on shares of Zuora from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, March 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 target price on shares of Zuora in a research note on Thursday, March 2nd. Finally, Jefferies Financial Group upped their target price on shares of Zuora to $10.00 in a research note on Wednesday, March 15th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $13.38.

Insider Transactions at Zuora

In other news, insider Sri Srinivasan sold 15,952 shares of the stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $9.34, for a total transaction of $148,991.68. Following the completion of the transaction, the insider now directly owns 132,606 shares in the company, valued at approximately $1,238,540.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Todd Mcelhatton sold 7,500 shares of the firm’s stock in a transaction dated Monday, April 10th. The shares were sold at an average price of $9.00, for a total value of $67,500.00. Following the completion of the sale, the chief financial officer now directly owns 135,775 shares in the company, valued at approximately $1,221,975. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sri Srinivasan sold 15,952 shares of the firm’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $9.34, for a total transaction of $148,991.68. Following the completion of the sale, the insider now owns 132,606 shares of the company’s stock, valued at $1,238,540.04. The disclosure for this sale can be found here. Insiders sold a total of 86,606 shares of company stock worth $803,526 in the last three months. Insiders own 9.25% of the company’s stock.

Institutional Investors Weigh In On Zuora

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Zuora by 4.7% in the 3rd quarter. Vanguard Group Inc. now owns 12,181,022 shares of the company’s stock valued at $89,895,000 after purchasing an additional 546,378 shares during the last quarter. BlackRock Inc. raised its holdings in Zuora by 1.5% in the 1st quarter. BlackRock Inc. now owns 10,687,463 shares of the company’s stock valued at $105,592,000 after acquiring an additional 156,550 shares during the period. Bank of New York Mellon Corp lifted its position in Zuora by 21.1% during the first quarter. Bank of New York Mellon Corp now owns 7,034,951 shares of the company’s stock worth $69,505,000 after acquiring an additional 1,225,569 shares during the last quarter. Baillie Gifford & Co. lifted its position in Zuora by 4.8% during the fourth quarter. Baillie Gifford & Co. now owns 5,118,254 shares of the company’s stock worth $32,552,000 after acquiring an additional 233,022 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Zuora by 14.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,641,736 shares of the company’s stock worth $23,161,000 after acquiring an additional 467,201 shares during the last quarter. 69.11% of the stock is currently owned by institutional investors and hedge funds.

Zuora Price Performance

The company’s 50-day simple moving average is $8.63 and its 200-day simple moving average is $7.96. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.66 and a quick ratio of 1.66. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of -10.97 and a beta of 1.83.

Zuora (NYSE:ZUO – Get Rating) last issued its quarterly earnings data on Wednesday, March 1st. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.11. The firm had revenue of $103.04 million during the quarter, compared to the consensus estimate of $99.70 million. Zuora had a negative net margin of 30.79% and a negative return on equity of 68.59%. Research analysts forecast that Zuora, Inc. will post -0.64 earnings per share for the current fiscal year.

Zuora Company Profile

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Zuora, Inc engages in the provision of cloud-based subscription management platform. Its products include Zuora Billing, Zuora Revenue, Zuora CPQ, Zuora Collect AI, and Zuora Analytics. It offers solutions to software, healthcare, education, B2C, and communications industries. The company was founded in 2007 by K.V.