Zuora (NYSE:ZUO) Sees Strong Trading Volume - What's Next?

Shares of Zuora, Inc. (NYSE:ZUO - Get Free Report) saw strong trading volume on Friday . 2,277,776 shares were traded during mid-day 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.

Wall Street Analysts Forecast Growth

Several research firms have commented on ZUO. Lake Street Capital reissued a "hold" rating and set a $10.00 target price on shares of Zuora in a research report on Friday. Canaccord Genuity Group reissued a "buy" rating and issued a $13.00 price target on shares of Zuora in a report on Thursday, August 22nd. Needham & Company LLC reissued a "buy" rating and issued a $15.00 price target on shares of Zuora in a report on Thursday, August 22nd. Finally, Craig Hallum downgraded shares of Zuora from a "buy" rating to a "hold" rating and cut their price target for the company from $12.00 to $10.00 in a report on Monday, July 8th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, Zuora presently has a consensus rating of "Hold" and an average price target of $11.43.

Zuora Trading Down 0.4 %

The stock's fifty day simple moving average is $8.74 and its two-hundred day simple moving average is $9.21. The firm has a market cap of $1.45 billion, a PE ratio of -23.19 and a beta of 1.72. The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 1.90.

Zuora (NYSE:ZUO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.09. The company had revenue of $115.40 million during the quarter, compared to the consensus estimate of $112.63 million. Zuora had a negative return on equity of 12.54% and a negative net margin of 10.60%. The firm's revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.12) EPS. On average, sell-side analysts forecast that Zuora, Inc. will post -0.06 EPS for the current fiscal year.

Insider Activity

In other Zuora news, CFO Todd Mcelhatton sold 51,879 shares of the firm'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 $432,670.86. Following the completion of the sale, the chief financial officer now owns 356,875 shares of the company's stock, valued at approximately $2,976,337.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Andrew M. Cohen sold 20,773 shares of the business's stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $8.34, for a total value of $173,246.82. Following the sale, the insider now owns 172,033 shares in the company, valued at approximately $1,434,755.22. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Todd Mcelhatton sold 51,879 shares of the company'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 $432,670.86. Following the sale, the chief financial officer now owns 356,875 shares in the company, valued at approximately $2,976,337.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 221,081 shares of company stock worth $1,857,391. Company insiders own 8.62% of the company's stock.

Institutional Trading of Zuora

Large investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Zuora during the 2nd quarter worth approximately $44,000. CWM LLC lifted its holdings in shares of Zuora by 25.0% in the 2nd quarter. CWM LLC now owns 7,945 shares of the company's stock valued at $79,000 after buying an additional 1,590 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Zuora in the 2nd quarter valued at approximately $85,000. Quent Capital LLC acquired a new stake in shares of Zuora in the 1st quarter valued at approximately $83,000. Finally, Williams Financial LLC purchased a new position in Zuora in the 2nd quarter valued at approximately $119,000. 83.02% of the stock is owned by institutional investors and hedge funds.

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.