Zuora (NYSE:ZUO – Get Rating) issued an update on its FY 2023 earnings guidance on Tuesday morning. The company provided EPS guidance of -$0.18–$0.14 for the period, compared to the consensus EPS estimate of -$0.16. The company issued revenue guidance of $394.00 million-$400.00 million, compared to the consensus revenue estimate of $402.82 million. Zuora also updated its Q3 2023 guidance to -$0.06–$0.05 EPS.
Zuora Trading Down 3.7 %
Shares of ZUO traded down $0.28 during mid-day trading on Thursday, hitting $7.38. 28,052 shares of the company's stock traded hands, compared to its average volume of 1,393,514. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 1.07. Zuora has a 1 year low of $7.40 and a 1 year high of $23.25. The firm has a market capitalization of $973.42 million, a P/E ratio of -8.84 and a beta of 1.95. The business's 50-day moving average price is $8.67 and its 200-day moving average price is $10.60.
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Zuora (NYSE:ZUO – Get Rating) last issued its quarterly earnings results on Wednesday, August 24th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. The company had revenue of $98.80 million for the quarter, compared to analysts' expectations of $97.54 million. Zuora had a negative return on equity of 56.71% and a negative net margin of 29.89%. The firm's revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.19) earnings per share. As a group, sell-side analysts forecast that Zuora will post -0.96 EPS for the current fiscal year.
Wall Street Analyst Weigh In
ZUO has been the topic of several analyst reports. Canaccord Genuity Group dropped their target price on Zuora from $23.00 to $20.00 and set a buy rating on the stock in a report on Thursday, August 25th. Craig Hallum dropped their target price on Zuora from $22.00 to $16.00 in a report on Thursday, August 25th. Finally, 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 report on Thursday, August 25th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $19.17.
Insider Transactions at Zuora
In related news, CRO Robert J. Traube sold 21,626 shares of the stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $8.93, for a total transaction of $193,120.18. Following the transaction, the executive now owns 59,223 shares in the company, valued at $528,861.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Zuora news, CRO Robert J. Traube sold 21,626 shares of Zuora stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $8.93, for a total value of $193,120.18. Following the completion of the sale, the executive now owns 59,223 shares of the company's stock, valued at approximately $528,861.39. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Todd Mcelhatton sold 10,000 shares of Zuora stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $9.56, for a total transaction of $95,600.00. Following the completion of the sale, the chief financial officer now directly owns 79,185 shares of the company's stock, valued at approximately $757,008.60. The disclosure for this sale can be found here. Insiders sold 93,483 shares of company stock worth $840,478 over the last three months. 9.08% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Zuora
A number of large investors have recently added to or reduced their stakes in ZUO. Ensign Peak Advisors Inc grew its position in shares of Zuora by 61.6% during the 1st quarter. Ensign Peak Advisors Inc now owns 10,940 shares of the company's stock valued at $164,000 after acquiring an additional 4,170 shares during the period. XTX Topco Ltd bought a new stake in shares of Zuora during the 1st quarter valued at $242,000. Verition Fund Management LLC bought a new stake in shares of Zuora during the 2nd quarter valued at $146,000. Prudential Financial Inc. bought a new stake in shares of Zuora during the 2nd quarter valued at $158,000. Finally, Mackenzie Financial Corp bought a new stake in shares of Zuora during the 1st quarter valued at $274,000. Institutional investors own 86.37% of the company's stock.
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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