Zuora (NYSE:ZUO) Sees Unusually-High Trading Volume

Zuora, Inc. (NYSE:ZUO - Get Free Report) shares saw strong trading volume on Wednesday . 7,402,661 shares traded hands during trading, an increase of 420% from the previous session's volume of 1,422,834 shares.The stock last traded at $9.71 and had previously closed at $8.47.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Canaccord Genuity Group decreased their target price on shares of Zuora from $16.00 to $13.00 and set a "buy" rating on the stock in a report on Thursday, February 29th. The Goldman Sachs Group upgraded shares of Zuora from a "neutral" rating to a "buy" rating and boosted their target price for the company from $10.00 to $12.00 in a report on Tuesday, January 23rd. Needham & Company LLC reiterated a "buy" rating and issued a $15.00 target price on shares of Zuora in a report on Thursday, February 29th. Finally, Robert W. Baird decreased their target price on shares of Zuora from $10.00 to $8.00 and set a "neutral" rating on the stock in a report on Thursday, February 29th.

Zuora Stock Performance

The firm's fifty day moving average price is $8.65 and its 200 day moving average price is $8.50. 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 stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of -19.71 and a beta of 1.90.

Zuora (NYSE:ZUO - Get Free Report) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.04) EPS for the quarter, topping 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 firm had revenue of $110.67 million for the quarter, compared to analyst estimates of $110.80 million. Analysts forecast that Zuora, Inc. will post -0.15 EPS for the current fiscal year.

Insider Transactions at Zuora

In related news, CEO Tien Tzuo sold 81,635 shares of the company's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $8.87, for a total transaction of $724,102.45. Following the sale, the chief executive officer now directly owns 6,352 shares of the company's stock, valued at approximately $56,342.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Zuora news, insider Andrew M. Cohen sold 11,864 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $8.61, for a total transaction of $102,149.04. Following the sale, the insider now directly owns 137,898 shares in the company, valued at approximately $1,187,301.78. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Tien Tzuo sold 81,635 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $8.87, for a total transaction of $724,102.45. Following the sale, the chief executive officer now owns 6,352 shares in the company, valued at $56,342.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 224,952 shares of company stock worth $1,951,070. 9.25% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zuora

Hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Zuora by 4.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,966 shares of the company's stock valued at $263,000 after purchasing an additional 1,239 shares in the last quarter. American International Group Inc. raised its holdings in shares of Zuora by 2.1% in the 4th quarter. American International Group Inc. now owns 66,153 shares of the company's stock valued at $622,000 after purchasing an additional 1,373 shares in the last quarter. Hsbc Holdings PLC raised 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 purchasing an additional 1,447 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Zuora by 6.2% in the 3rd quarter. Federated Hermes Inc. now owns 29,762 shares of the company's stock valued at $245,000 after purchasing an additional 1,729 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Zuora by 13.3% in the 4th quarter. Principal Financial Group Inc. now owns 15,367 shares of the company's stock valued at $144,000 after purchasing an additional 1,800 shares in the last quarter. 83.02% of the stock is currently owned by institutional investors and hedge funds.

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.