Brokerages Set Zuora Inc (ZUO) Target Price at $29.00

Zuora Inc (NYSE:ZUO) has received an average recommendation of “Hold” from the seven brokerages that are covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $29.00.

Several equities analysts have recently weighed in on the stock. Needham & Company LLC raised their price target on shares of Zuora from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, August 29th. They noted that the move was a valuation call. FBN Securities assumed coverage on shares of Zuora in a research note on Tuesday. They set an “outperform” rating for the company. Jefferies Financial Group raised their price target on shares of Zuora to $35.00 and gave the stock a “buy” rating in a research note on Friday, August 31st. Canaccord Genuity raised their target price on shares of Zuora from $26.00 to $28.00 and gave the company a “hold” rating in a research note on Friday, August 31st. Finally, Morgan Stanley raised their target price on shares of Zuora from $24.00 to $26.00 and gave the company an “equal weight” rating in a research note on Friday, August 31st.

In other Zuora news, Director Michelangelo Volpi sold 28,780 shares of the firm’s stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $26.30, for a total transaction of $756,914.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Jennifer Pileggi sold 10,000 shares of the firm’s stock in a transaction on Monday, October 8th. The shares were sold at an average price of $20.38, for a total value of $203,800.00. The disclosure for this sale can be found here. Insiders sold 579,238 shares of company stock valued at $14,222,367 over the last three months.

A number of institutional investors have recently made changes to their positions in ZUO. Cornerstone Wealth Management LLC acquired a new stake in Zuora during the 2nd quarter valued at $335,000. Gilder Gagnon Howe & Co. LLC acquired a new stake in Zuora during the 2nd quarter valued at $21,901,000. Emerald Mutual Fund Advisers Trust acquired a new stake in Zuora during the 2nd quarter valued at $2,265,000. First Trust Advisors LP acquired a new stake in Zuora during the 2nd quarter valued at $2,557,000. Finally, Frontier Capital Management Co. LLC acquired a new stake in Zuora during the 2nd quarter valued at $3,344,000. 10.99% of the stock is owned by institutional investors and hedge funds.

Shares of ZUO opened at $20.90 on Tuesday. Zuora has a twelve month low of $17.72 and a twelve month high of $37.78. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.03 and a current ratio of 2.03.

Zuora (NYSE:ZUO) last issued its quarterly earnings results on Thursday, August 30th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.03. The business had revenue of $57.75 million for the quarter, compared to the consensus estimate of $54.00 million. As a group, equities analysts forecast that Zuora will post -0.78 EPS for the current fiscal year.

About Zuora

Zuora, Inc provides cloud-based software on a subscription basis that enables companies in various industries to launch, manage, and transform into a subscription business. The company offers Zuora Central platform that acts as an intelligent subscription management hub that automates the subscription order-to-cash process, including quoting, billing, collections, analytics, and revenue recognition.

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Analyst Recommendations for Zuora (NYSE:ZUO)

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