Zuora (NYSE:ZUO) Shares Gap Down to $10.02

Zuora, Inc. (NYSE:ZUO)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $10.02, but opened at $9.50. Zuora shares last traded at $9.93, with a volume of 365,214 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ZUO. Canaccord Genuity Group dropped their price objective on shares of Zuora from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price target on shares of Zuora in a report on Tuesday. Robert W. Baird reduced their price objective on Zuora from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, February 29th. Finally, The Goldman Sachs Group upgraded Zuora from a “neutral” rating to a “buy” rating and upped their price objective for the company from $10.00 to $12.00 in a research report on Tuesday, January 23rd.

Zuora Stock Up 0.5 %

The company has a debt-to-equity ratio of 2.69, a quick ratio of 2.43 and a current ratio of 2.43. The firm’s 50 day simple moving average is $8.93 and its 200 day simple moving average is $8.64.

Zuora (NYSE:ZUO) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.10. Zuora had a negative net margin of 15.80% and a negative return on equity of 46.38%. The firm had revenue of $110.67 million during the quarter, compared to analysts’ expectations of $110.80 million. Analysts predict that Zuora, Inc. will post -0.15 EPS for the current fiscal year.

Insider Transactions at Zuora

In related news, insider Andrew M. Cohen sold 11,864 shares of the business’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $8.61, for a total transaction of $102,149.04. Following the completion of the transaction, the insider now owns 137,898 shares in the company, valued at approximately $1,187,301.78. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Zuora news, insider Andrew M. Cohen sold 3,794 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $8.29, for a total value of $31,452.26. Following the transaction, the insider now directly owns 134,104 shares in the company, valued at approximately $1,111,722.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Andrew M. Cohen sold 11,864 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $8.61, for a total value of $102,149.04. Following the completion of the transaction, the insider now directly owns 137,898 shares in the company, valued at approximately $1,187,301.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 481,854 shares of company stock worth $4,393,048. 9.25% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ZUO. Allspring Global Investments Holdings LLC acquired a new position in Zuora during the 3rd quarter valued at about $25,000. DekaBank Deutsche Girozentrale acquired a new stake in Zuora during the 3rd quarter worth about $25,000. Sherbrooke Park Advisers LLC purchased a new stake in Zuora during the 3rd quarter valued at about $88,000. MQS Management LLC acquired a new position in shares of Zuora in the third quarter valued at about $129,000. Finally, Cornerstone Investment Partners LLC purchased a new position in shares of Zuora in the fourth quarter worth about $166,000. 83.02% of the stock is currently owned by hedge funds and other institutional investors.

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.