Zuora (NYSE:ZUO) Updates Q2 Earnings Guidance

Zuora (NYSE:ZUOGet Rating) updated its second quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $(0.06)-$(0.05) for the period, compared to the consensus earnings per share estimate of ($0.02). The company issued revenue guidance of $96.5-98.5 million, compared to the consensus revenue estimate of $99.45 million.Zuora also updated its FY 2023 guidance to -$0.19–$0.15 EPS.

Several research analysts have recently commented on the company. Craig Hallum reduced their target price on Zuora to $22.00 in a report on Thursday. Canaccord Genuity Group reduced their target price on Zuora from $27.00 to $23.00 and set a buy rating on the stock in a report on Thursday, March 3rd. Finally, Zacks Investment Research downgraded Zuora from a hold rating to a sell rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $22.43.

Shares of NYSE ZUO traded up $0.31 during midday trading on Thursday, hitting $9.85. The stock had a trading volume of 139,133 shares, compared to its average volume of 1,219,562. The company’s 50-day simple moving average is $12.80 and its 200 day simple moving average is $15.87. The firm has a market cap of $1.26 billion, a P/E ratio of -12.38 and a beta of 2.12. Zuora has a fifty-two week low of $8.92 and a fifty-two week high of $23.25.

Zuora (NYSE:ZUOGet Rating) last released its earnings results on Wednesday, May 25th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.02). The firm had revenue of $93.20 million during the quarter, compared to analyst estimates of $92.24 million. Zuora had a negative net margin of 28.67% and a negative return on equity of 47.82%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period last year, the business posted ($0.13) earnings per share. On average, sell-side analysts forecast that Zuora will post -0.77 earnings per share for the current fiscal year.

In other news, CFO Todd Mcelhatton sold 4,700 shares of the business’s stock in a transaction dated Monday, April 11th. The stock was sold at an average price of $13.59, for a total transaction of $63,873.00. Following the completion of the transaction, the chief financial officer now directly owns 58,363 shares in the company, valued at approximately $793,153.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Tien Tzuo sold 5,000 shares of the stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $15.09, for a total transaction of $75,450.00. The disclosure for this sale can be found here. Insiders have sold a total of 57,206 shares of company stock valued at $830,044 in the last ninety days. Company insiders own 9.08% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Neo Ivy Capital Management bought a new position in Zuora during the fourth quarter worth about $84,000. Ensign Peak Advisors Inc lifted its holdings in Zuora by 61.6% during the first quarter. Ensign Peak Advisors Inc now owns 10,940 shares of the company’s stock worth $164,000 after acquiring an additional 4,170 shares in the last quarter. Janus Henderson Group PLC acquired a new position in shares of Zuora in the third quarter valued at approximately $181,000. Royal Bank of Canada boosted its holdings in shares of Zuora by 24.3% in the third quarter. Royal Bank of Canada now owns 12,287 shares of the company’s stock valued at $204,000 after buying an additional 2,402 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of Zuora in the first quarter valued at approximately $242,000. Institutional investors and hedge funds own 83.85% of the company’s stock.

Zuora Company Profile (Get Rating)

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.

See Also

Earnings History and Estimates for Zuora (NYSE:ZUO)

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