Zuora (NYSE:ZUO) Downgraded by Zacks Investment Research to Hold

Zuora (NYSE:ZUO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Zuora, Inc. provides cloud-based software on a subscription basis. The company’s product portfolio includes Zuora Billing, Zuora RevPro, Zuora CPQ, Zuora Insights and Zuora Collect. Its platform offers Zuora Central. Zuora, Inc. is headquartered in San Mateo, California. “

A number of other analysts have also recently weighed in on the company. Jefferies Financial Group increased their price target on Zuora from $13.00 to $17.00 in a research report on Wednesday, February 24th. Berenberg Bank started coverage on Zuora in a research report on Thursday, April 8th. They set a “buy” rating and a $20.00 price target on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Zuora in a research report on Tuesday, April 13th. Finally, Canaccord Genuity increased their price target on Zuora from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, April 13th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Zuora presently has an average rating of “Hold” and an average price target of $16.58.

Shares of NYSE ZUO opened at $15.11 on Friday. The company’s 50 day moving average price is $15.65. Zuora has a 52-week low of $9.15 and a 52-week high of $17.95. The firm has a market capitalization of $1.83 billion, a PE ratio of -24.37 and a beta of 2.16. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.56 and a quick ratio of 1.56.

Zuora (NYSE:ZUO) last announced its quarterly earnings data on Tuesday, May 25th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.02. Zuora had a negative return on equity of 41.49% and a negative net margin of 23.96%. The firm had revenue of $80.33 million for the quarter, compared to analysts’ expectations of $79.00 million. As a group, research analysts anticipate that Zuora will post -0.6 EPS for the current fiscal year.

In other Zuora news, CEO Tien Tzuo sold 10,000 shares of the stock in a transaction on Tuesday, March 16th. The stock was sold at an average price of $15.02, for a total transaction of $150,200.00. Following the completion of the transaction, the chief executive officer now directly owns 10,000 shares of the company’s stock, valued at approximately $150,200. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO Robert J. Traube sold 8,120 shares of the stock in a transaction on Monday, April 12th. The shares were sold at an average price of $16.23, for a total value of $131,787.60. Following the transaction, the executive now directly owns 17,514 shares of the company’s stock, valued at $284,252.22. The disclosure for this sale can be found here. Insiders sold a total of 81,168 shares of company stock valued at $1,294,807 over the last three months. Corporate insiders own 12.58% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Banque Cantonale Vaudoise boosted its stake in Zuora by 122.2% during the 4th quarter. Banque Cantonale Vaudoise now owns 2,000 shares of the company’s stock valued at $28,000 after purchasing an additional 1,100 shares in the last quarter. Acadian Asset Management LLC bought a new position in Zuora during the 1st quarter valued at $28,000. Marshall Wace North America L.P. bought a new position in Zuora during the 1st quarter valued at $62,000. First Mercantile Trust Co. bought a new position in Zuora during the 1st quarter valued at $85,000. Finally, DekaBank Deutsche Girozentrale bought a new position in Zuora during the 1st quarter valued at $141,000. 60.80% of the stock is owned by hedge funds and other institutional investors.

About Zuora

Zuora, Inc, together with its subsidiaries, 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 allows customers to order-to-revenue operations.

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