Zuora (NYSE:ZUO) Stock Price Up 4.5%

Zuora, Inc. (NYSE:ZUO) shares traded up 4.5% during trading on Thursday . The stock traded as high as $9.25 and last traded at $9.25. 84,408 shares were traded during mid-day trading, a decline of 93% from the average session volume of 1,271,704 shares. The stock had previously closed at $8.85.

Analysts Set New Price Targets

Several analysts recently commented on the company. Canaccord Genuity Group lowered their target price on Zuora from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. The Goldman Sachs Group upgraded Zuora from a “neutral” rating to a “buy” rating and raised their target price for the company from $10.00 to $12.00 in a research report on Tuesday, January 23rd. Needham & Company LLC restated a “buy” rating and issued a $15.00 target price on shares of Zuora in a research report on Thursday, February 29th. Finally, Robert W. Baird lowered their target price on Zuora from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, February 29th.

Zuora Trading Up 2.1 %

The firm has a market capitalization of $1.29 billion, a P/E ratio of -19.08 and a beta of 1.89. The company has a debt-to-equity ratio of 2.84, a quick ratio of 2.71 and a current ratio of 2.71. The firm has a 50 day moving average price of $8.75 and a two-hundred day moving average price of $8.49.

Zuora (NYSE:ZUO) last issued its earnings results on Wednesday, February 28th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.10. The business had revenue of $110.67 million during the quarter, compared to analysts’ expectations of $110.80 million. Zuora had a negative return on equity of 48.38% and a negative net margin of 15.80%. On average, equities research analysts expect that Zuora, Inc. will post -0.15 EPS for the current fiscal year.

Insider Transactions at Zuora

In related news, CEO Tien Tzuo sold 84,676 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $8.84, for a total transaction of $748,535.84. Following the completion of the sale, the chief executive officer now directly owns 6,352 shares in the company, valued at $56,151.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CRO Robert J. Traube sold 57,005 shares of the stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $8.36, for a total transaction of $476,561.80. Following the completion of the sale, the executive now directly owns 49,106 shares in the company, valued at $410,526.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Tien Tzuo sold 84,676 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $8.84, for a total value of $748,535.84. Following the sale, the chief executive officer now owns 6,352 shares of the company’s stock, valued at $56,151.68. The disclosure for this sale can be found here. Insiders sold a total of 265,899 shares of company stock valued at $2,278,816 over the last quarter. Company insiders own 9.25% of the company’s stock.

Hedge Funds Weigh In On Zuora

Several institutional investors have recently bought and sold shares of ZUO. First Trust Advisors LP raised its holdings in Zuora by 1,567.1% during the first quarter. First Trust Advisors LP now owns 2,204,905 shares of the company’s stock valued at $33,029,000 after buying an additional 2,072,643 shares in the last quarter. Scalar Gauge Management LLC bought a new position in Zuora during the fourth quarter valued at about $12,620,000. Nuveen Asset Management LLC raised its holdings in Zuora by 70.4% during the second quarter. Nuveen Asset Management LLC now owns 2,324,567 shares of the company’s stock valued at $25,500,000 after buying an additional 960,540 shares in the last quarter. Millennium Management LLC raised its holdings in Zuora by 63.4% during the second quarter. Millennium Management LLC now owns 2,342,112 shares of the company’s stock valued at $20,962,000 after buying an additional 908,890 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Zuora by 81.5% during the first quarter. The Manufacturers Life Insurance Company now owns 1,866,739 shares of the company’s stock valued at $27,964,000 after buying an additional 838,243 shares in the last quarter. 83.02% of the stock is currently owned by institutional investors.

About Zuora

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.