Zuora (NYSE:ZUO – Get Rating) issued an update on its third quarter 2023 earnings guidance on Tuesday morning. The company provided EPS guidance of -$0.06–$0.05 for the period, compared to the consensus EPS 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 Stock Performance

ZUO stock traded down $0.12 on Friday, reaching $7.35. The company's stock had a trading volume of 36,086 shares, compared to its average volume of 1,339,418. The company has a market capitalization of $969.47 million, a P/E ratio of -8.43 and a beta of 1.95. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.57 and a quick ratio of 2.57. Zuora has a 52 week low of $7.36 and a 52 week high of $23.25. The firm has a fifty day moving average of $8.65 and a two-hundred day moving average of $10.56.

Zuora (NYSE:ZUO – Get Rating) last released its 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 firm had revenue of $98.80 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.19) earnings per share. As a group, analysts predict that Zuora will post -0.96 EPS for the current fiscal year.

Analysts Set New Price Targets

Insider Buying and Selling at Zuora

In other Zuora news, CFO Todd Mcelhatton sold 18,136 shares of the business's stock in a transaction on Friday, July 1st. The shares were sold at an average price of $8.93, for a total transaction of $161,954.48. Following the sale, the chief financial officer now directly owns 89,185 shares of the company's stock, valued at approximately $796,422.05. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Zuora news, CFO Todd Mcelhatton sold 18,136 shares of the business's stock in a transaction on Friday, July 1st. The shares were sold at an average price of $8.93, for a total transaction of $161,954.48. Following the sale, the chief financial officer now directly owns 89,185 shares of the company's stock, valued at approximately $796,422.05. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Tien Tzuo sold 12,500 shares of the business's stock in a transaction on Thursday, June 30th. The shares were sold at an average price of $8.88, for a total transaction of $111,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 93,483 shares of company stock valued at $840,478 in the last three months. 9.08% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ZUO. BlackRock Inc. boosted its stake in shares of Zuora by 1.5% during the 1st quarter. BlackRock Inc. now owns 8,274,224 shares of the company's stock worth $123,948,000 after acquiring an additional 125,301 shares in the last quarter. State Street Corp lifted its holdings in Zuora by 1.6% during the 2nd quarter. State Street Corp now owns 2,433,911 shares of the company's stock valued at $21,784,000 after purchasing an additional 37,913 shares during the last quarter. Millennium Management LLC lifted its holdings in Zuora by 63.4% during the 2nd quarter. Millennium Management LLC now owns 2,342,112 shares of the company's stock valued at $20,962,000 after purchasing an additional 908,890 shares during the last quarter. First Trust Advisors LP lifted its holdings in Zuora by 1,567.1% during the 1st quarter. First Trust Advisors LP now owns 2,204,905 shares of the company's stock valued at $33,029,000 after purchasing an additional 2,072,643 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Zuora by 81.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,866,739 shares of the company's stock valued at $27,964,000 after purchasing an additional 838,243 shares during the last quarter. 86.37% of the stock is 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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