Zuora (NYSE:ZUO – Get Rating) updated its third quarter 2023 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of -$0.06–$0.05 for the period, compared to the consensus estimate of -$0.04. The company issued revenue guidance of $99.50 million-$101.50 million, compared to the consensus revenue estimate of $103.73 million. Zuora also updated its FY 2023 guidance to -$0.18–$0.14 EPS.
Zuora Trading Down 1.6 %
Shares of NYSE:ZUO traded down $0.13 during trading on Thursday, reaching $8.08. The stock had a trading volume of 40,707 shares, compared to its average volume of 1,320,547. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 1.07. The stock has a market cap of $1.07 billion, a P/E ratio of -9.22 and a beta of 1.95. The business has a fifty day moving average price of $8.83 and a 200-day moving average price of $10.84. Zuora has a fifty-two week low of $7.41 and a fifty-two week high of $23.25.
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Zuora (NYSE:ZUO – Get Rating) last released its quarterly earnings results on Wednesday, August 24th. The company reported ($0.03) earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.02. The business had revenue of $98.80 million during the quarter, compared to the consensus estimate of $97.54 million. Zuora had a negative net margin of 29.89% and a negative return on equity of 56.71%. The business's quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.19) earnings per share. As a group, analysts anticipate that Zuora will post -0.96 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on ZUO. Needham & Company LLC dropped their target price on Zuora from $24.00 to $15.00 and set a buy rating on the stock in a research report on Thursday, August 25th. Craig Hallum cut their price target on shares of Zuora from $22.00 to $16.00 in a report on Thursday, August 25th. Finally, Canaccord Genuity Group decreased their price target on Zuora from $23.00 to $20.00 and set a buy rating for the company in a research note on Thursday, August 25th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $19.17.
Insider Buying and Selling
In related news, CFO Todd Mcelhatton sold 10,000 shares of the business's stock in a transaction on Monday, July 11th. The shares were sold at an average price of $9.56, for a total value of $95,600.00. Following the sale, the chief financial officer now directly owns 79,185 shares of the company's stock, valued at approximately $757,008.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Zuora news, CEO Tien Tzuo sold 12,500 shares of the firm's stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $8.88, for a total transaction of $111,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Todd Mcelhatton sold 10,000 shares of the firm's stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $9.56, for a total transaction of $95,600.00. Following the transaction, the chief financial officer now directly owns 79,185 shares in the company, valued at $757,008.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 93,483 shares of company stock valued at $840,478. 9.08% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its holdings in Zuora by 41.7% in the first quarter. JPMorgan Chase & Co. now owns 640,724 shares of the company's stock worth $9,598,000 after purchasing an additional 188,563 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Zuora by 207.5% in the 1st quarter. Raymond James & Associates now owns 37,212 shares of the company's stock worth $557,000 after buying an additional 25,110 shares during the last quarter. Acadian Asset Management LLC grew its stake in Zuora by 242.6% in the 1st quarter. Acadian Asset Management LLC now owns 22,435 shares of the company's stock valued at $334,000 after purchasing an additional 15,887 shares during the period. MetLife Investment Management LLC increased its holdings in Zuora by 56.8% during the first quarter. MetLife Investment Management LLC now owns 58,644 shares of the company's stock worth $878,000 after buying an additional 21,232 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Zuora by 1.5% in the 1st quarter. BlackRock Inc. now owns 8,274,224 shares of the company's stock worth $123,948,000 after purchasing an additional 125,301 shares during the period. 86.37% of the stock is currently owned by institutional investors and hedge funds.
Zuora Company Profile
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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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