Zuora (NYSE:ZUO) Releases FY 2023 Earnings Guidance

Zuora (NYSE:ZUOGet Rating) issued an update on its FY 2023 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of -$0.18–$0.14 for the period, compared to the consensus estimate of -$0.16. The company issued revenue guidance of $394.00 million-$400.00 million, compared to the consensus revenue estimate of $402.82 million. Zuora also updated its Q3 2023 guidance to -$0.06–$0.05 EPS.

Zuora Trading Down 1.6 %

ZUO traded down $0.12 during mid-day trading on Friday, hitting $7.35. 36,086 shares of the stock were exchanged, compared to its average volume of 1,339,418. The firm’s fifty day moving average is $8.65 and its two-hundred day moving average is $10.56. Zuora has a 1-year low of $7.36 and a 1-year high of $23.25. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 1.07. The company has a market cap of $969.47 million, a PE ratio of -8.43 and a beta of 1.95.

Zuora (NYSE:ZUOGet Rating) last posted its earnings results on Wednesday, August 24th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.02. Zuora had a negative return on equity of 56.71% and a negative net margin of 29.89%. The firm had revenue of $98.80 million for the quarter, compared to analyst estimates of $97.54 million. During the same quarter in the prior year, the company earned ($0.19) EPS. Zuora’s revenue was up 14.2% on a year-over-year basis. Equities analysts forecast that Zuora will post -0.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

ZUO has been the topic of several recent research reports. Canaccord Genuity Group cut their price target on Zuora from $23.00 to $20.00 and set a buy rating on the stock in a report on Thursday, August 25th. Craig Hallum cut their price target on Zuora from $22.00 to $16.00 in a report on Thursday, August 25th. Finally, Needham & Company LLC cut their price target on Zuora from $24.00 to $15.00 and set a buy rating on the stock in a report on Thursday, August 25th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $19.17.

Insider Buying and Selling

In related news, CFO Todd Mcelhatton sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $9.56, for a total transaction of $95,600.00. Following the transaction, the chief financial officer now owns 79,185 shares in the company, valued at approximately $757,008.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Todd Mcelhatton sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $9.56, for a total transaction of $95,600.00. Following the transaction, the chief financial officer now owns 79,185 shares in the company, valued at approximately $757,008.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Robert J. Traube sold 21,626 shares of the stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $8.93, for a total value of $193,120.18. Following the sale, the executive now directly owns 59,223 shares of the company’s stock, valued at $528,861.39. The disclosure for this sale can be found here. Insiders have sold 93,483 shares of company stock worth $840,478 in the last quarter. 9.08% of the stock is owned by insiders.

Institutional Trading of Zuora

A number of hedge funds have recently added to or reduced their stakes in ZUO. Legal & General Group Plc lifted its holdings in shares of Zuora by 15.9% in the 2nd quarter. Legal & General Group Plc now owns 89,247 shares of the company’s stock valued at $799,000 after buying an additional 12,226 shares during the period. Mirabella Financial Services LLP lifted its holdings in shares of Zuora by 71.7% in the 1st quarter. Mirabella Financial Services LLP now owns 46,739 shares of the company’s stock valued at $700,000 after buying an additional 19,519 shares during the period. Raymond James & Associates lifted its holdings in shares of Zuora by 207.5% in the 1st quarter. Raymond James & Associates now owns 37,212 shares of the company’s stock valued at $557,000 after buying an additional 25,110 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Zuora by 5.9% in the 1st quarter. Hsbc Holdings PLC now owns 26,146 shares of the company’s stock valued at $396,000 after buying an additional 1,447 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in shares of Zuora by 242.6% in the 1st quarter. Acadian Asset Management LLC now owns 22,435 shares of the company’s stock valued at $334,000 after buying an additional 15,887 shares during the period. 86.37% of the stock is owned by institutional investors and hedge funds.

Zuora Company Profile

(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.

Read More

Earnings History and Estimates for Zuora (NYSE:ZUO)

Receive News & Ratings for Zuora Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zuora and related companies with MarketBeat.com's FREE daily email newsletter.