Zuora (NYSE:ZUO) Sees Large Volume Increase – What’s Next?

Zuora, Inc. (NYSE:ZUO) saw unusually-strong 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.

Analysts Set New Price Targets

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

Zuora Trading Down 0.1 %

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 company has a 50-day simple moving average of $9.14 and a 200-day simple moving average of $9.33. The stock has a market cap of $1.50 billion, a P/E ratio of -30.94 and a beta of 1.70.

Zuora (NYSE:ZUO) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $0.19 earnings per share for the quarter, topping 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 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 business’s revenue was up 6.8% compared to the same quarter last year.

Insider Activity at Zuora

In related news, CEO Tien Tzuo sold 63,873 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $8.34, for a total value of $532,700.82. Following the completion of the sale, the chief executive officer now directly owns 63,312 shares of the company’s stock, valued at $528,022.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Zuora news, insider Peter Hirsch sold 18,855 shares of the company’s 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 sale, the insider now directly owns 19,279 shares in the company, valued at $174,667.74. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Tien Tzuo sold 63,873 shares of the stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $8.34, for a total transaction of $532,700.82. Following the sale, the chief executive officer now owns 63,312 shares of the company’s stock, valued at approximately $528,022.08. This represents a 0.00 % decrease in their ownership of the stock. 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 90 days. 8.62% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zuora

Several institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Zuora during the 2nd quarter valued at $44,000. CWM LLC raised its stake in shares of Zuora by 25.0% during the 2nd quarter. CWM LLC now owns 7,945 shares of the company’s stock worth $79,000 after acquiring an additional 1,590 shares in the last quarter. Castleview Partners LLC acquired a new position in Zuora during the 3rd quarter valued at approximately $79,000. Canada Pension Plan Investment Board purchased a new stake in Zuora during the second quarter worth $85,000. Finally, Palumbo Wealth Management LLC lifted its holdings in Zuora by 11.7% during the third quarter. Palumbo Wealth Management LLC now owns 11,536 shares of the company’s stock valued at $99,000 after purchasing an additional 1,210 shares in 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.