Needham & Company LLC Reaffirms "Buy" Rating for Zuora (NYSE:ZUO)

Zuora (NYSE:ZUO - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at Needham & Company LLC in a research note issued to investors on Thursday, Benzinga reports. They currently have a $15.00 price target on the stock. Needham & Company LLC's price objective would indicate a potential upside of 47.06% from the stock's current price.

Other equities research analysts have also recently issued reports about the stock. Robert W. Baird reduced their target price on shares of Zuora from $10.00 to $8.00 and set a "neutral" rating for the company in a report on Thursday, February 29th. Canaccord Genuity Group decreased their price target on shares of Zuora from $16.00 to $13.00 and set a "buy" rating on the stock in a research note on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Zuora has an average rating of "Moderate Buy" and an average target price of $11.83.

Zuora Trading Up 3.4 %

Shares of ZUO stock traded up $0.34 on Thursday, reaching $10.20. 2,214,974 shares of the company's stock were exchanged, compared to its average volume of 1,488,794. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 2.69. The company's fifty day simple moving average is $9.45 and its 200 day simple moving average is $8.92. The stock has a market capitalization of $1.49 billion, a PE ratio of -21.25 and a beta of 1.84. Zuora has a 52 week low of $7.05 and a 52 week high of $12.12.

Zuora (NYSE:ZUO - Get Free Report) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.10. Zuora had a negative net margin of 15.80% and a negative return on equity of 46.38%. The company had revenue of $110.67 million for the quarter, compared to analyst estimates of $110.80 million. As a group, analysts forecast that Zuora will post -0.14 EPS for the current year.

Insider Transactions at Zuora

In related news, CFO Todd Mcelhatton sold 31,006 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $8.61, for a total value of $266,961.66. Following the sale, the chief financial officer now owns 277,803 shares in the company, valued at approximately $2,391,883.83. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Andrew M. Cohen sold 13,319 shares of the business's stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $10.00, for a total value of $133,190.00. Following the completion of the sale, the insider now directly owns 120,785 shares of the company's stock, valued at approximately $1,207,850. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Todd Mcelhatton sold 31,006 shares of the stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $8.61, for a total value of $266,961.66. Following the completion of the sale, the chief financial officer now directly owns 277,803 shares of the company's stock, valued at $2,391,883.83. The disclosure for this sale can be found here. Insiders have sold a total of 481,854 shares of company stock valued at $4,393,048 over the last 90 days. 8.62% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zuora

Several institutional investors have recently made changes to their positions in ZUO. Allspring Global Investments Holdings LLC bought a new stake in Zuora in the 3rd quarter worth $25,000. DekaBank Deutsche Girozentrale purchased a new position in Zuora in the third quarter worth about $25,000. Quent Capital LLC bought a new stake in Zuora during the first quarter valued at approximately $83,000. Sherbrooke Park Advisers LLC purchased a new stake in Zuora in the 3rd quarter worth approximately $88,000. Finally, MQS Management LLC bought a new stake in Zuora during the third quarter valued at about $129,000. Hedge funds and other institutional investors own 83.02% of the company's stock.

Zuora Company Profile

Zuora, Inc provides a monetization suite for modern businesses to help companies launch and scale new services and operate dynamic customer-centric business models. The company offers Zuora Billing that allows customers to deploy various pricing and packaging strategies to monetize their recurring revenue streams, bill customers, calculate prorations when subscriptions change, and automate billing and payment operations; Zuora Revenue, a revenue recognition and automation solution that accounting teams use to manage their complex revenue streams; Zuora Payments to provide payment orchestration services for companies looking to operate globally; and Zephr, a digital subscriber experience platform that helps companies orchestrate dynamic experiences that increase conversion, reduce churn, and nurture ongoing subscriber relationships.