Zuora (NYSE:ZUO) Sets New 52-Week High After Analyst Upgrade

Zuora, Inc. (NYSE:ZUO – Get Rating) shares hit a new 52-week high during mid-day trading on Friday after Lake Street Capital raised their price target on the stock from $11.00 to $12.00. The stock traded as high as $10.79 and last traded at $10.50, with a volume of 593532 shares changing hands. The stock had previously closed at $10.20.

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

Insider Buying and Selling at Zuora

In other Zuora news, CEO Tien Tzuo sold 12,500 shares of the company’s stock in a transaction dated Friday, March 31st. The shares were sold at an average price of $9.64, for a total value of $120,500.00. Following the transaction, the chief executive officer now directly owns 6,352 shares in the company, valued at approximately $61,233.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CRO Robert J. Traube sold 19,335 shares of the stock in a transaction dated Monday, April 10th. The shares were sold at an average price of $9.00, for a total transaction of $174,015.00. Following the transaction, the executive now directly owns 36,892 shares in the company, valued at approximately $332,028. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Tien Tzuo sold 12,500 shares of the stock in a transaction dated Friday, March 31st. The stock was sold at an average price of $9.64, for a total transaction of $120,500.00. Following the transaction, the chief executive officer now owns 6,352 shares in the company, valued at $61,233.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 86,606 shares of company stock worth $803,526. Corporate insiders own 9.25% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ZUO. JPMorgan Chase & Co. raised its holdings in Zuora by 41.7% in the first quarter. JPMorgan Chase & Co. now owns 640,724 shares of the company’s stock valued at $9,598,000 after buying an additional 188,563 shares during the period. Raymond James & Associates raised its holdings in Zuora by 207.5% in the first 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. Acadian Asset Management LLC raised its holdings in Zuora by 242.6% in the first 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. MetLife Investment Management LLC raised its holdings in Zuora by 56.8% in the first quarter. MetLife Investment Management LLC now owns 58,644 shares of the company’s stock valued at $878,000 after buying an additional 21,232 shares during the period. Finally, BlackRock Inc. raised its holdings in Zuora by 1.5% in the first quarter. BlackRock Inc. now owns 8,274,224 shares of the company’s stock valued at $123,948,000 after buying an additional 125,301 shares during the period. Hedge funds and other institutional investors own 69.11% of the company’s stock.

Zuora Price Performance

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 company’s 50-day simple moving average is $8.63 and its 200-day simple moving average is $7.96. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -12.07 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, beating the consensus estimate of ($0.27) by $0.11. Zuora had a negative net margin of 29.09% and a negative return on equity of 66.53%. The company had revenue of $103.04 million during the quarter, compared to the consensus estimate of $99.70 million. On average, equities research analysts anticipate that Zuora, Inc. will post -0.64 EPS for the current year.

About Zuora

(Get Rating)

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.