Zuora (NYSE: ZUO – Get Rating) updated its second quarter 2023 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of – $ 0.06 – $ 0.05 for the period, compared to the consensus estimate of – $ 0.02. The company issued revenue guidance of $ 96.50 million- $ 98.50 million, compared to the consensus revenue estimate of $ 97.97 million. Zuora also updated its FY 2023 guidance to – $ 0.19 – $ 0.15 EPS.
A number of brokerages have commented on ZUO. Craig Hallum cut their price target on shares of Zuora to $ 22.00 in a research note on Thursday, May 26th. Canaccord Genuity Group dropped their price target on shares of Zuora from $ 27.00 to $ 23.00 and set a buy rating for the company in a research report on Thursday, March 3rd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $ 22.17.
Shares of NYSE ZUO opened at $ 9.01 on Wednesday. The firm’s 50-day moving average price is $ 10.83 and its 200-day moving average price is $ 14.29. Zuora has a 1-year low of $ 8.25 and a 1-year high of $ 23.25. The firm has a market capitalization of $ 1.16 billion, a P / E ratio of -10.86 and a beta of 2.14. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 1.08.
Zuora (NYSE: ZUO – Get Rating) last posted its earnings results on Wednesday, May 25th. The company reported ($ 0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($ 0.14) by ($ 0.07). Zuora had a negative return on equity of 52.39% and a negative net margin of 29.18%. The business had revenue of $ 93.20 million during the quarter, compared to analyst estimates of $ 92.24 million. During the same quarter in the prior year, the company earned ($ 0.13) EPS. The company’s revenue was up 16.0% on a year-over-year basis. Equities research analysts forecast that Zuora will post -0.84 EPS for the current year.
In related news, CRO Robert J. Traube sold 12,109 shares of the stock in a transaction on Tuesday, April 12th. The shares were sold at an average price of $ 13.97, for a total transaction of $ 169,162.73. Following the transaction, the executive now owns 27,078 shares of the company’s stock, valued at approximately $ 378,279.66. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Tien Tzuo sold 5,000 shares of the firm’s stock in a transaction on Friday, April 1st. The stock was sold at an average price of $ 15.09, for a total transaction of $ 75,450.00. The disclosure for this sale can be found here. Insiders have sold a total of 47,206 shares of the company’s stock valued at $ 680,044 over the last three months. Insiders own 9.08% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp. DE lifted its position in Zuora by 1.0% during the 1st quarter. Bank of America Corp. DE now owns 206,384 shares of the company’s stock valued at $ 3,092,000 after acquiring an additional 1,977 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Zuora by 81.5% in the first quarter. The Manufacturers Life Insurance Company now owns 1,866,739 shares of the company’s stock worth $ 27,964,000 after buying an additional 838,243 shares during the last quarter. Worth Venture Partners LLC raised its holdings in Zuora by 15.1% in the first quarter. Worth Venture Partners LLC now owns 54,457 shares of the company’s stock worth $ 816,000 after buying an additional 7,144 shares during the last quarter. Mirabella Financial Services LLP grew its stake in shares of Zuora by 71.7% in the first quarter. Mirabella Financial Services LLP now owns 46,739 shares of the company’s stock worth $ 700,000 after acquiring an additional 19,519 shares during the period. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Zuora in the first quarter worth approximately $ 308,000. 83.85% of the stock is currently owned by hedge funds and other institutional investors.
Zuora Company Profile (Get Rating)
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 orchestration engine that allows customers quote-to-revenue operations.
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