Zuora (NYSE:ZUO) updated its FY 2022 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $-0.130-$-0.110 for the period, compared to the Thomson Reuters consensus estimate of $-0.090. The company issued revenue guidance of $340 million-$342 million, compared to the consensus revenue estimate of $338.20 million.Zuora also updated its Q3 2022 guidance to $-0.030-$-0.020 EPS.
Separately, Zacks Investment Research lowered Zuora from a hold rating to a sell rating in a research report on Wednesday, September 1st.
Shares of ZUO stock opened at $16.95 on Wednesday. The company has a market cap of $2.11 billion, a price-to-earnings ratio of -26.48 and a beta of 2.16. The stock has a 50 day simple moving average of $16.76 and a 200-day simple moving average of $16.12. Zuora has a 1-year low of $9.27 and a 1-year high of $18.65.
Zuora (NYSE:ZUO) last announced its earnings results on Tuesday, August 24th. The company reported ($0.04) earnings per share for the quarter, hitting the Thomson Reuters' consensus estimate of ($0.04). The business had revenue of $86.50 million during the quarter, compared to the consensus estimate of $83.41 million. Zuora had a negative return on equity of 41.89% and a negative net margin of 23.79%. Zuora's revenue was up 15.3% on a year-over-year basis. On average, research analysts forecast that Zuora will post -0.57 EPS for the current year.
In other Zuora news, SVP Jennifer Pileggi sold 7,607 shares of the firm's stock in a transaction on Thursday, July 1st. The stock was sold at an average price of $17.13, for a total value of $130,307.91. Following the completion of the sale, the senior vice president now directly owns 8,845 shares of the company's stock, valued at approximately $151,514.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Tien Tzuo sold 5,000 shares of the firm's stock in a transaction on Monday, August 30th. The stock was sold at an average price of $16.89, for a total value of $84,450.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 239,852 shares of company stock valued at $4,048,999. 12.58% of the stock is owned by corporate insiders.
A hedge fund recently raised its stake in Zuora stock. Wells Fargo & Company MN lifted its holdings in shares of Zuora, Inc. (NYSE:ZUO) by 100.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 90,487 shares of the company's stock after purchasing an additional 45,402 shares during the quarter. Wells Fargo & Company MN owned about 0.07% of Zuora worth $1,561,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 64.30% of the company's stock.
About Zuora
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.
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