Zuora (NYSE:ZUO) had its target price increased by research analysts at Needham & Company LLC to $38.00 in a report released on Wednesday, Marketbeat Ratings reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target would indicate a potential upside of 11.73% from the stock’s previous close. The analysts noted that the move was a valuation call.

A number of other equities research analysts have also recently issued reports on ZUO. Canaccord Genuity upped their price objective on shares of Zuora from $20.00 to $23.00 and gave the stock a “hold” rating in a report on Friday, June 1st. Zacks Investment Research upgraded shares of Zuora from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Sunday, July 8th. Jefferies Financial Group began coverage on shares of Zuora in a report on Monday, May 7th. They issued a “buy” rating and a $24.00 price objective for the company. Morgan Stanley began coverage on shares of Zuora in a report on Monday, May 7th. They set an “equal weight” rating and a $19.00 price target for the company. Finally, Goldman Sachs Group began coverage on shares of Zuora in a report on Monday, May 7th. They set a “neutral” rating and a $18.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $26.83.

Shares of NYSE:ZUO opened at $34.01 on Wednesday. Zuora has a 1 year low of $18.75 and a 1 year high of $37.78. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.06.

Zuora (NYSE:ZUO) last issued its quarterly earnings data on Thursday, August 30th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.03. sell-side analysts predict that Zuora will post -0.77 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC bought a new stake in Zuora during the second quarter valued at about $1,325,000. Tower Research Capital LLC TRC bought a new stake in Zuora during the second quarter valued at about $147,000. Arrowgrass Capital Partners US LP bought a new stake in Zuora during the second quarter valued at about $1,632,000. Cubist Systematic Strategies LLC bought a new stake in Zuora during the second quarter valued at about $308,000. Finally, Flagship Harbor Advisors LLC bought a new stake in Zuora during the second quarter valued at about $133,000. Institutional investors own 11.02% of the company’s stock.

Zuora Company Profile

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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Analyst Recommendations for Zuora (NYSE:ZUO)

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