Needham & Company LLC Reiterates “Buy” Rating for Zuora (NYSE:ZUO)

Zuora (NYSE:ZUO)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $15.00 price target on the stock. Needham & Company LLC’s target price points to a potential upside of 79.64% from the stock’s current price.

Separately, Canaccord Genuity Group reiterated a “buy” rating and issued a $16.00 price target on shares of Zuora in a research note on Thursday, August 24th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $12.86.

Zuora Trading Up 1.5 %

Shares of Zuora stock opened at $8.35 on Thursday. The company has a market capitalization of $1.17 billion, a P/E ratio of -10.18 and a beta of 1.84. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.75 and a current ratio of 1.75. The company has a fifty day moving average of $7.94 and a 200 day moving average of $9.42. Zuora has a fifty-two week low of $5.45 and a fifty-two week high of $12.12.

Zuora (NYSE:ZUO) last announced its quarterly earnings results on Wednesday, November 29th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.03 by $0.06. The business had revenue of $109.80 million for the quarter, compared to analysts’ expectations of $108.66 million. Zuora had a negative net margin of 26.67% and a negative return on equity of 71.64%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.24) EPS. On average, sell-side analysts anticipate that Zuora will post -0.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Tien Tzuo sold 129,166 shares of the stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $8.23, for a total value of $1,063,036.18. Following the sale, the chief executive officer now directly owns 6,352 shares of the company’s stock, valued at approximately $52,276.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Zuora news, insider Andrew M. Cohen sold 3,844 shares of the company’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $8.68, for a total value of $33,365.92. Following the transaction, the insider now directly owns 76,139 shares in the company, valued at approximately $660,886.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Tien Tzuo sold 129,166 shares of the company’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $8.23, for a total transaction of $1,063,036.18. Following the completion of the transaction, the chief executive officer now owns 6,352 shares in the company, valued at $52,276.96. The disclosure for this sale can be found here. Insiders have sold 460,850 shares of company stock valued at $3,775,153 in the last ninety days. 9.25% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zuora

Hedge funds have recently added to or reduced their stakes in the stock. Taylor Frigon Capital Management LLC increased its holdings in Zuora by 1.1% during the second quarter. Taylor Frigon Capital Management LLC now owns 292,691 shares of the company’s stock valued at $3,211,000 after buying an additional 3,060 shares during the period. Creative Planning lifted its position in Zuora by 11.6% during the second quarter. Creative Planning now owns 27,032 shares of the company’s stock valued at $297,000 after purchasing an additional 2,807 shares during the period. Bank of New York Mellon Corp lifted its position in Zuora by 3.8% during the second quarter. Bank of New York Mellon Corp now owns 7,302,592 shares of the company’s stock valued at $80,109,000 after purchasing an additional 267,641 shares during the period. Potrero Capital Research LLC lifted its position in Zuora by 3.4% during the first quarter. Potrero Capital Research LLC now owns 1,171,475 shares of the company’s stock valued at $11,574,000 after purchasing an additional 38,433 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new position in Zuora during the second quarter valued at $539,000. 72.42% of the stock is currently owned by institutional investors.

Zuora Company Profile

Zuora, Inc, together with its subsidiaries, provides cloud-based subscription management platform that enables companies in various industries to launch, manage, and transform into a subscription business. The company offers Zuora platform that acts as an orchestration engine that allows customers quote-to-cash and revenue operations; and Zuora Billing that helps customers to set payment terms, manage hierarchical billing relationships, consolidate invoicing across multiple subscriptions, and tax transactions.