Zuora (NYSE:ZUO) Sees Large Volume Increase – Here’s What Happened

Zuora, Inc. (NYSE:ZUO) saw strong trading volume on Friday . 2,277,776 shares were traded during trading, an increase of 44% from the previous session’s volume of 1,576,674 shares.The stock last traded at $9.95 and had previously closed at $9.96.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ZUO. Craig Hallum downgraded shares of Zuora from a “buy” rating to a “hold” rating and decreased their target price for the company from $12.00 to $10.00 in a research report on Monday, July 8th. Lake Street Capital reissued a “hold” rating and issued a $10.00 price objective on shares of Zuora in a report on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 target price on shares of Zuora in a report on Thursday, August 22nd. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $13.00 price target on shares of Zuora in a research report on Thursday, August 22nd. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Zuora currently has an average rating of “Hold” and a consensus target price of $11.43.

Zuora Stock Performance

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 firm has a market capitalization of $1.45 billion, a PE ratio of -23.05 and a beta of 1.72. The firm’s 50 day moving average price is $8.77 and its 200-day moving average price is $9.22.

Zuora (NYSE:ZUO) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.19 EPS for the quarter, beating 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 business had revenue of $115.40 million during the quarter, compared to analysts’ expectations of $112.63 million. During the same period 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. On average, research analysts expect that Zuora, Inc. will post -0.06 EPS for the current year.

Insider Activity

In other Zuora news, insider Peter Hirsch sold 18,855 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $9.06, for a total value of $170,826.30. Following the transaction, the insider now owns 19,279 shares in the company, valued at approximately $174,667.74. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related 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 owns 19,279 shares of the company’s stock, valued at approximately $174,667.74. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew M. Cohen sold 20,773 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $8.34, for a total transaction of $173,246.82. Following the completion of the transaction, the insider now directly owns 172,033 shares in the company, valued at $1,434,755.22. This trade 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 worth $1,857,391 over the last quarter. 8.62% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zuora

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BDF Gestion purchased a new position in shares of Zuora during the 2nd quarter worth $3,426,000. Divisar Capital Management LLC purchased a new position in Zuora during the second quarter worth about $4,575,000. Capstone Investment Advisors LLC purchased a new position in Zuora during the first quarter worth about $736,000. Quent Capital LLC acquired a new position in Zuora in the 1st quarter valued at about $83,000. Finally, Scalar Gauge Management LLC grew its stake in shares of Zuora by 35.4% in the 2nd quarter. Scalar Gauge Management LLC now owns 5,091,272 shares of the company’s stock valued at $50,556,000 after buying an additional 1,332,343 shares during the period. Institutional investors and hedge funds own 83.02% of the company’s stock.

Zuora Company Profile

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.