Zuora (NYSE:ZUO) Sees Strong Trading Volume – Should You Buy?

Shares of Zuora, Inc. (NYSE:ZUO) saw an uptick in trading volume on Friday . 2,277,776 shares traded hands during trading, an increase of 44% from the previous session’s volume of 1,576,674 shares.The stock last traded at $9.95 and had previously closed at $9.96.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ZUO. Canaccord Genuity Group reiterated a “buy” rating and set a $13.00 price target on shares of Zuora in a research report on Thursday, August 22nd. Craig Hallum downgraded Zuora from a “buy” rating to a “hold” rating and lowered their price objective for the company from $12.00 to $10.00 in a research report on Monday, July 8th. Needham & Company LLC restated a “buy” rating and set a $15.00 target price on shares of Zuora in a report on Thursday, August 22nd. Finally, Lake Street Capital restated a “hold” rating and set a $10.00 target price on shares of Zuora in a report on Friday. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Zuora presently has an average rating of “Hold” and an average target price of $11.43.

Zuora Trading Down 0.3 %

The stock has a market cap of $1.45 billion, a PE ratio of -23.19 and a beta of 1.72. The company has a debt-to-equity ratio of 1.90, a quick ratio of 2.77 and a current ratio of 2.77. The stock has a fifty day moving average price of $8.74 and a 200 day moving average price of $9.21.

Zuora (NYSE:ZUO) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.09. Zuora had a negative return on equity of 12.54% and a negative net margin of 10.60%. The company had revenue of $115.40 million during the quarter, compared to analysts’ expectations of $112.63 million. During the same quarter in the previous year, the business earned ($0.12) EPS. Zuora’s revenue was up 6.8% compared to the same quarter last year. Equities analysts expect that Zuora, Inc. will post -0.06 EPS for the current year.

Insider Transactions at Zuora

In other news, insider Peter Hirsch sold 18,855 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $9.06, for a total value of $170,826.30. Following the transaction, the insider now directly owns 19,279 shares of the company’s stock, valued at approximately $174,667.74. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Zuora news, insider Andrew M. Cohen sold 20,773 shares of the stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $8.34, for a total transaction of $173,246.82. Following the transaction, the insider now owns 172,033 shares in the company, valued at approximately $1,434,755.22. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Peter Hirsch sold 18,855 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $9.06, for a total value of $170,826.30. Following the transaction, the insider now directly owns 19,279 shares of the company’s stock, valued at $174,667.74. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 221,081 shares of company stock valued at $1,857,391. Corporate insiders own 8.62% of the company’s stock.

Institutional Investors Weigh In On Zuora

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Zuora by 5.6% in the first quarter. Vanguard Group Inc. now owns 17,262,494 shares of the company’s stock valued at $157,434,000 after purchasing an additional 917,565 shares during the period. Scalar Gauge Management LLC increased its position in shares of Zuora by 35.4% during the second quarter. Scalar Gauge Management LLC now owns 5,091,272 shares of the company’s stock worth $50,556,000 after purchasing an additional 1,332,343 shares in the last quarter. Solel Partners LP increased its position in Zuora by 13.5% in the 2nd quarter. Solel Partners LP now owns 4,058,308 shares of the company’s stock valued at $40,299,000 after acquiring an additional 483,445 shares during the period. Bares Capital Management Inc. increased its position in Zuora by 41.4% in the 1st quarter. Bares Capital Management Inc. now owns 1,746,292 shares of the company’s stock valued at $15,926,000 after acquiring an additional 511,292 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in Zuora by 27.4% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 985,632 shares of the company’s stock valued at $9,787,000 after acquiring an additional 212,200 shares during the period. Institutional investors and hedge funds 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.