Zuora (NYSE:ZUO) Sees Strong Trading Volume – Here’s Why

Zuora, Inc. (NYSE:ZUO) saw unusually-high trading volume on Tuesday . Approximately 2,190,249 shares were traded during mid-day trading, an increase of 25% from the previous session’s volume of 1,759,046 shares.The stock last traded at $9.90 and had previously closed at $9.90.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Canaccord Genuity Group reiterated a “buy” rating and set a $13.00 price target on shares of Zuora in a report on Thursday, August 22nd. Needham & Company LLC reissued a “hold” rating and issued a $15.00 price objective on shares of Zuora in a research note on Monday, October 21st. Finally, Lake Street Capital reiterated a “hold” rating and issued a $10.00 price objective on shares of Zuora in a report on Friday, October 18th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Zuora presently has an average rating of “Hold” and an average price target of $11.43.

Zuora Stock Down 0.1 %

The stock has a market capitalization of $1.50 billion, a P/E ratio of -30.91 and a beta of 1.70. The stock has a fifty day moving average price of $9.14 and a 200 day moving average price of $9.33. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.77 and a quick ratio of 2.77.

Zuora (NYSE:ZUO) last released its quarterly earnings data on Wednesday, August 21st. The company reported $0.19 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $115.40 million for the quarter, compared to the consensus estimate of $112.63 million. During the same quarter in the previous year, the business earned ($0.12) earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis.

Insider Transactions at Zuora

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

Hedge Funds Weigh In On Zuora

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Zuora during the second quarter worth $44,000. CWM LLC raised its position in Zuora by 25.0% during the second quarter. CWM LLC now owns 7,945 shares of the company’s stock valued at $79,000 after acquiring an additional 1,590 shares in the last quarter. Castleview Partners LLC acquired a new stake in Zuora in the third quarter valued at approximately $79,000. Canada Pension Plan Investment Board acquired a new stake in Zuora in the second quarter valued at approximately $85,000. Finally, Palumbo Wealth Management LLC boosted its stake in shares of Zuora by 11.7% in the third quarter. Palumbo Wealth Management LLC now owns 11,536 shares of the company’s stock worth $99,000 after acquiring an additional 1,210 shares during the last quarter. Institutional investors own 83.02% of the company’s stock.

About Zuora

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.